“The decision to keep the repo rate unchanged at 6.5% indicates RBI’s focus on maintaining stability and carefully withdrawing accommodative measures. The projected real GDP growth of 6.5% for FY23/24, with varying quarterly rates, brings encouraging prospects for the Indian economy. The supportive conditions of domestic demand and the promising revival of rural demand are vital drivers of sustained growth. We appreciate RBI’s commitment to maintain a delicate balance between growth and inflation containment. While headline inflation remains above the target of 4%, we believe that RBI’s vigilant stance will contribute to necessary corrective measures, promoting price stability in the coming months.”
Mr. Sanjay Palve, Senior Managing Director, Essar Capital
Today’s announcement of the RBI Monetary Policy is a result of the overall positive outlook of the Indian economy and that the inflation is under control. This reflects that India has decoupled from the rest of the world in terms of inflation and growth rates. We should expect a downward reduction in the rates in coming times.
Mr. Rajiv Agarwal, MD & CEO, Essar Ports