INSUBCONTINENT EXCLUSIVE:
The RBI retained the GDP growth for the current fiscal at 9.5 per centReserve Bank of India (RBI) Governor Shaktikanta Das-led Monetary
Policy Committee retained the real gross domestic product (GDP) forecast of the current financial year 2021-22 at 9.5 per cent, projecting a
the current fiscal largely due to a low base effect as the economy contracted by a record 24.4 per cent in the year-ago period when the
the rebound in economic activity gained momentum in August-September, driven by low rate of new COVID-19 cases, easing of restrictions and a
sharp pick-up in the pace of vaccination.Even though the outlook for aggregate demand is progressively improving, but the economic output is
still below pre-COVID level and the recovery is uneven, being critically dependent upon policy support, added Mr Das
Compared to pre-pandemic levels, the contact intensive services, which contribute around two-fifth of economic activity in the country, are
still lagging."The RBI kept key policy rates unchanged, policy stance accommodative was on expected lines
The central bank has stuck to its stated promise of keeping system liquidity excessive to help growthThe excess liquidity will help address
the anemic growth in credit offtake
Nish Bhatt, Founder - CEO, Millwood Kane International.
