Rbi mpc meet: The Reserve Bank of India (RBI) announced its major repo rate cut on Friday (7 February) for the first time since May 2020 to support the sluggish economy.
The Reserve Bank of India (RBI) has estimated to be 6.7 percent of the GDP growth rate (GDP growth rate) for the next financial year 2025-26 in its fifth biological meeting for FY24-25. The RBI said that the GDP growth rate is expected to be 6.4 per cent in FY 2024-25. The financial year, which lasted after a strong growth of 8.2 percent in the last financial year, may have a soft expansion in the economy. According to the central bank, there is a possibility of further improvement in economic activities in the coming year.
Inflation estimated to be at 4.8%
The RBI said that in the financial year 2024-25, retail inflation is expected to be at 4.8 percent. Whereas in the next financial year 2025-26 it can be at 4.2 percent.
The Reserve Bank of India (RBI) on Friday reduced the major policy rate repo from 0.25 percent to 6.25 percent in order to speed up economic growth. The central bank has cut the repo rate after about five years. Earlier in May, 2020, the repo rate was reduced by 0.40 percent to four percent at the time of Kovid-19 epidemic.