The Reserve Bank of India in its Bi-monthly Monetary Policy Statement, kept policy repo-rate and CRR unchanged with target of 6% CPI inflation by January 2016 as expected. Lower fuel prices as well as stable currency have aided in bringing the inflation to 7.8% in August 2014. It is expected that inflation will continue to fall in the coming months due to benign global commodity prices on one hand and the government’s focus on bringing down food and wage inflation by avoiding inflationary impulses from sharp MSP price hikes, etc. on the other.
The RBI said the country's GDP growth, which it estimates to be 5.5% in the current fiscal, will improve to 6.3% in 2015-16.
"For 2014-15, real GDP growth is projected to lie between 5 and 6%, with a central estimate of 5.5% for 2015-16, real GDP growth is projected to rise to 6.3%," the central bank said in its monetary policy report released today.
The RBI said the country's GDP growth, which it estimates to be 5.5% in the current fiscal, will improve to 6.3% in 2015-16.
"For 2014-15, real GDP growth is projected to lie between 5 and 6%, with a central estimate of 5.5% for 2015-16, real GDP growth is projected to rise to 6.3%," the central bank said in its monetary policy report released today.
