Mumbai, December 4: The real GDP growth for 2021 is projected at minus 7.5 percent. The recovery in rural demand is expected to strengthen further while urban demand is also gaining momentum, said RBI Governor Shaktikanta Das.
The policy repo rate, the benchmark at which RBI lends to the banks, will stay at 4 percent, RBI Governor Shaktikanta Das said in a televised address. The reverse repo rate will continue to be 3.35 percent. This is the third time in a row the apex bank has kept the key rates unchanged. Repo Rate Remains Unchanged at 4%, RBI Maintains Status-Quo for Third Time in a Row.
Talking about inflation, the Monetary Policy Committee (MPC) was of the view that inflation is likely to remain elevated with some relief in the winter months from prices of perishables and bumper Kharif arrivals.
GDP Growth For 2021 Projected at Minus 7.5%
We are projecting GDP growth for Q3 at +0.1% and +0.7% for Q4: RBI Governor Shaktikanta Das https://t.co/EDznDqagXq
— ANI (@ANI) December 4, 2020
RBI governor further projected the GDP growth for Q3 at +0.1 percent and +0.7 percent for Q4.
Das’s comment on economic growth came after the central bank’s Monetary Policy Committee (MPC) today decided to keep key policy rates unchanged while continuing to maintain an accommodative stance through March as well as into the next financial year.
(The above story first appeared on LatestLY on Dec 04, 2020 10:57 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).