The Reserve Bank of India's Monetary Policy Committee sees Gross Domestic Product (GDP) growth rate for FY2021-22 is projected at 10.5 percent, Governor Shaktikanta Das said today.
Further, growth is projected in the range of 26.2 percent to 8.3 percent in H1FY22 and 6 percent in Q3FY22.
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The Economic Survey 2021, announced by Chief Economic Advisor (CEA) Krishnamurthy Subramanian before the Budget 2021, had projected GDP growth at 11 percent.
The Union Budget, Finance Minister Nirmala Sitharaman said projected that India’s nominal GDP would grow by 14.4 percent for FY22.
Governor Das today said the MPC voted unanimously to keep the policy rates unchanged. The “accommodative” policy stance remains unchanged, he added.
This means the repo rate is maintained at 4 percent and reverse repo rate at 3.35 percent.
RBI Governor Shaktikanta Das said "Inflation has eased below the tolerance level of 6 percent. Outlook on growth has improved significantly. MPC has judged that need for the hour is to continue supporting growth. Signs of recovery have strengthened further and list of normalising sectors is expanding."