The projection of real GDP growth for 2021-2022 is retained at 10.5 per cent, says RBI Governor Shaktikanta Das during the bi-monetary policy.
"It consists of 26.2 per cent in Q1, 8.3 per cent in Q2 and 5.4 per cent in Q3 and 6.2 per cent in Q4 of 2021-2011, " said Das.
Global growth is gradually recovering from slowdown but remains uncertain. "Vaccine distribution and its efficacy is key to global economic recovery," he added.
CPI inflation is at 5 per cent in Q4 FY 21 as against 5.2 per cent forecast earlier. The MPC forecasts CPI inflation of 5.2 per cent in Q1 and Q2 of FY22, 4.4 percent in Q3 and 5.1 percent in Q4.
Das stated the central bank will ensure ample liquidity in system so that productive sector gets adequate credit. He stated that the regulator is indirectly expanding liquidity. The central and state government borrowing of Rs 22 lakh crore at record low rate has been completed.
RBI has decided to extended TLTRO scheme by 6 months, up to September 30, 2021. Former economic secretary said the RBI will support the market with adequate liquidity through its various tool kits.
Das also announced a liquidity support of Rs 50,000 crore to NABARD, NHB and SIDBI.
