The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) projected inflation for FY24 to 5.2 percent, governor Shaktikanta Das announced on Thursday.

The RBI MPC has projected inflation for the first quarter of this fiscal at 5.1 percent, 5.4 percent for the second and third quarters and 5.2 percent for the fourth quarter, Das said.

#rbimonetarypolicy #reporate #cnbctv18 #RBIMPCmeet #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday

About CNBC-TV18: India’s leading business news channel, CNBC-TV18 offers the most comprehensive coverage of businesses, the economy and the financial markets. Catch all your favourite shows, exclusive videos, big-ticket interviews and more here.

You can also connect with CNBC-TV18 News Online
Catch the latest news:

Follow CNBC-TV18 round the clock:

Stay updated with all the market action in real time:

You can also stay updated with all the latest news on-the-go with CNBC-TV18 Minis:

n18oc_business…(read more)

LEARN ABOUT: Investing During Inflation

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

On Friday, April 7th, 2023, the Reserve Bank of India (RBI) announced its monetary policy for the fiscal year ahead. It was revealed that the central bank had projected faster growth and softer inflation for the year in question.

The RBI Governor, Shaktikanta Das, stated that the prevailing economic conditions warranted changes in policy stance. The bank predicted that the Indian economy would grow by 7.5 percent during the 2023 fiscal year. Additionally, inflation was forecast to ease to 4.0 percent.

The Governor argued that the country’s growth trajectory was expected to pick up due to multiple factors. Firstly, Das cited significant improvements in corporate and consumer confidence levels. Second, the RBI indicated that vaccination rates were on the rise, and this was a positive sign that the country would be able to resume normalcy sooner rather than later.

Moreover, the Governor reported that the RBI had been implementing measures that were expected to drive growth in a transparent and optimal manner. He noted that the bank had supported critical sectors such as agriculture, infrastructure, and real estate through interest rate cuts and corresponding liquidity measures.

Meanwhile, on the inflation front, the RBI said in a statement that it would continue to monitor trends closely. The bank was committed to keeping inflation under control and noted that the projected 4.0 percent figure was in line with its target.

The Governor added that the RBI would remain vigilant on the inflation front while taking steps to stimulate growth. He said the bank would maintain an accommodative policy stance until disruption to economic activity eased.

In summary, the RBI’s monetary policy outlook for the 2023 fiscal year was bullish in terms of economic growth potential. The bank aims to strike a balance between boosting growth and keeping inflation under control. Investors, consumers, and industry stakeholders will be watching closely to see how the RBI’s projections come to fruition.