Senior leadership at Essar share their views on RBI’s Bi-monthly Monetary Policy Statement

“The MPC’s actions are in line with the current global inflation scenario and has leaned in favour of anchoring inflationary expectations to work out solutions to decipher the growth potential of the economy. The tone of the policy continues to be aggressive. The hike in repo rate by 50 basis points to 5.4% to pre-pandemic levels does not come as a surprise. RBI’s actions and efforts are to largely surmount the global headwinds that are driving inflation and to ensure inflation remains within target going forward.”

Sanjay Palve
Senior Managing Director, Essar Capital

“RBI’s decision to raise the repo rate by 50 bps to 5.40 percent clearly signals the intent to keep the country within the targeted inflation rate. Hence the GDP growth forecast was also retained at 7.2% which is still one of the best globally. The country’s economy is heading In the right direction with Urban demand increasing and domestic economic activity showing signs of broadening even though rural demand shows a mix trend.  The RBI and MPC have taken bold steps to overcome the global headwinds that are driving inflation and keep the Indian economy on the path of growth.”

Rajiv Agarwal
Operating Partner (Infrastructure), Essar
Managing Director, Essar Ports