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"Once the lockdowns are lifted slowly from June, probably in July or second half of June you can expect the government to come and announce more fiscal measures and RBI has already indicated that there should be more support from different sector apart from the monetary levers."
The central bank said it would also purchase bonds worth Rs 40,000 crore, including state development loans worth Rs 10,000 crore, under the ongoing GSAP 1.0 through an auction on June 17.
"Once the lockdowns are lifted slowly from June, probably in July or second half of June you can expect the government to come and announce more fiscal measures and RBI has already indicated that there should be more support from different sector apart from the monetary levers."
While the central bank did not change its repo rate, it did make certain changes to its forecasts, announced more relief measures for hard-hit citizens and businesses and provided hope for the future beyond the second wave.
The RBI monetary policy committee (MPC) has kept the policy rate unchanged at 4%. The MPC also decided to continue with an accommodative stance.