The Reserve Bank of India Governor Shaktikanta Das, said today that Indian economy remains resilient, it has withstood several global shocks, while addressing the Monetary Policy Committee.
"Inflation has shown signs of moderation, & the worst is behind us. But there are concerns over core inflation. We are now witnessing conducive conditions of macro-economic stability", he added.
He also stated, "Indian rupee has remained one of the least volatile currencies among its Asian peers in 2022. It appears to be so this year also."
Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) by a majority decided to raise the policy repo rate by 25 basis points and keep a 'strong vigil' on inflation outlook.
The governor announced that RBI has increased the repo rate by 25 basis points to 6.5%.
The RBI has raised interest rates for the sixth time in nine months and the highest since August 2018.
RBI also projected a growth rate of 6.4 per cent for the next fiscal. In the latest Economic Survey of the Finance Ministry, growth projection was 6-6.8 per cent for 2023-24.
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