Image Source : PTI RBI governor Shaktikanta Das
The financial coverage committe led by Shaktikanta Das has stored the repo charges unchanged at 6.50 per cent for the sixth straight time.
The charge improve cycle was paused in April final yr after six consecutive charge hikes totalling to 250 foundation factors since May 2022. RBI Governor Shaktikanta Das, whereas asserting the bi-monthly financial coverage, mentioned that the Monetary Policy Committee (MPC) will stay watchful of meals inflation in order that the advantages gained are usually not frittered away. This is the primary bi-monthly coverage following the presentation of the Interim Budget 2024-25 final week.
In December, Consumer Price Index (CPI) inflation, or retail inflation, elevated, reaching a four-month excessive of 5.69 per cent. The improve was primarily attributed to the elevated costs of varied meals gadgets, together with pulses, spices, fruits, and greens. Comparatively, in November 2023, CPI inflation stood at 5.55 %.
Despite this latest rise, headline inflation has managed to fall throughout the 2-6 % vary stipulated by the federal government for the Reserve Bank of India (RBI). However, it nonetheless exceeds the central financial institution’s goal of 4 per cent.
The RBI has projected CPI inflation for the fiscal yr 2023-24 (FY24) at 5.40 per cent and 5.60 per cent for 2024-25.
Source: www.indiatvnews.com
