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RBI Monetary Policy: Retail Inflation Will Remain! If it decreases in FY24, then GDP will get speed

Highlights

Overall retail inflation is expected to remain at 6.7 percent in FY23.
In the second quarter of this financial year, this inflation rate will be 7.1 percent.
In the third quarter, it is expected to reduce slightly to 6.5 percent.

New Delhi. The Consumer Price Index (CPI), which is used to measure inflation, is likely to remain elevated in the coming days. However, retail inflation is expected to come down to 5 per cent in FY24. Before that, this rate can remain above the figure of 5. This estimate has been expressed after the meeting of the monetary committee policy of the Reserve Bank of India today.

On Friday, RBI Governor Shaktikanta Das held a press conference. In this conference, he said that overall retail inflation is expected to remain at 6.7 percent in FY23. In the second quarter of this financial year, it will be 7.1 percent and in the third quarter it is expected to come down to 6.5 percent. In the last quarter of FY23, this rate can go down to 5.8 percent by going down to 6.

Also read – Loan interest rates will increase due to increase in repo rate, will inflation be curbed?

Things will improve in FY 24!
Let us inform that today the Reserve Bank of India has issued a new monetary policy for the next quarter. RBI estimates that India’s GDP may grow at 7 per cent for FY23. RBI said in its GPD growth estimate that the second quarter of FY23 has seen a growth rate of 6.3 per cent. In the third quarter, it can grow by 4.6 per cent and in the fourth quarter also at 4.6 per cent. Governor Shaktikanta Das also said that the growth of the economy can pick up from the first quarter of FY24. It is expected to grow at a pace of 7.2 per cent in that quarter.

Also read – Repo rate hiked once again, 0.50% increase

Repo rate raised to 5.90 percent
The Reserve Bank of India has increased the repo rate by 50 basis points or 0.50 per cent on 30 September 2022. With this, the repo rate has now increased to 5.90 percent. This is the fourth consecutive increase in interest rates by the central bank this year. Earlier in August, the repo rate was increased by 50 basis points and the interest rates were increased from 4.90 per cent to 5.40 per cent.

Tags: cpi, Former Reserve Bank of India (RBI) Governor, GDP, GDP growth, inflation, RBI, RBI Governor, Rbi policy

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