New Delhi. Following are the highlights of the Monetary Policy Review 2021-22 of the Reserve Bank of India (RBI) –
Address by Shri Shaktikanta Das, Governor, Reserve Bank of India
https://t.co/TRMiREjWn4— ReserveBankOfIndia (@RBI) February 10, 2022
- * Key policy rate repo unchanged at 4 per cent for the 10th time in a row, reverse repo rate at 3.35 per cent.
- * Gross domestic product growth projected at 7.8 per cent for the next financial year as against 9.2 per cent in the current fiscal.
- * India is undergoing a revival differently than the rest of the world, the country will be the fastest growing economy.
- * RBI will continue accommodative stance for growth revival, as the pandemic continues to hit the global economy.
- * Retail inflation estimated at 5.3 percent in the current fiscal, 4.5 percent in the fiscal year 2022-23.
- * Inflation will remain at a high level of satisfactory range in the current quarter, moderate from the second half of the next financial year.
- * Risk of rising inflation due to rise in crude oil prices in the global market.
- * The Indian rupee showed strength.
- * Current account deficit will be less than two percent of GDP in the current financial year.
- * An ever-accessible cash facility of Rs 50,000 crore for healthcare, connectivity based sectors.
- * Limit of e Rupay digital voucher increased from Rs 10,000 to Rs 1 lakh and allowed for use in various sectors.
- * The next meeting of the Monetary Policy Committee (MPC) will be held on April 6-8.