Read more about Economic growth will only move upwards in FY21-22, says Shaktikanta Das on Business Standard. The projection is in line with the estimates in the Union Budget 2021-22 presented in Parliament earlier this week
Read more about RBI projects GDP growth rate at 10.5% over recovery in economic activities on Business Standard. RBI Governor Shaktikanta Das said vegetable prices are expected to remain soft in the near term as the central bank projected retail inflation rate to come down to 5.2 per cent in the current quarter
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Mumbai, February 5
The Reserve Bank of India (RBI) on Friday kept interest rates on hold for the fourth time in a row but vowed to support growth as long it is needed even as it began withdrawing some pandemic-era policies.
While the Union Budget 2021 earlier this week laid out an expansive fiscal strategy over the medium term to strengthen the growth engine in the economy, the RBI affirmed its support to such a plan through appropriate monetary tools.
The six-member Monetary Policy Committee (MPC) kept the repurchase or repo rate unchanged at 4 per cent, said Governor Shaktikanta Das.
Consequently, the reverse repo rate will continue to earn 3.35 per cent for banks for their deposits kept with the RBI.
The Reserve Bank s Monetary Policy Committee (MPC) voted unanimously to leave the repo rate unchanged at 4 per cent, Governor Shaktikanta Das said while announcing the decisions taken by the panel.
: Friday, February 5, 2021, 7:09 AM IST
Government sticks to USD 5 trillion economy target; emphasis on infra aimed at achieving goal: Economic Affairs Secretary Tarun Bajaj
Economic Affairs Secretary Tarun Bajaj The government is sticking to the target of becoming a USD 5 trillion economy by 2024-25 and emphasis on infrastructure sector and other initiatives taken in Budget 2021-22 are aimed at achieving the goal, Economic Affairs Secretary Tarun Bajaj has said.
The Budget presented by Finance Minister Nirmala Sitharaman on Monday has given a big push to infrastructure spending, monetisation of assets, ramping up of capacities in healthcare sector and agriculture sector, among others. These initiatives are aimed at reviving the economy ravaged by the COVID-19 pandemic.