Perspective - RBI Monetary Policy: Hawkish Stance | 30 September, 2022

Sansad TV
In this episode of the Perspective Prog. Based on ‘RBI Monetary Policy: Hawkish Stance’. On expected lines the Reserve Bank of India on Friday raised the repo rate by 50 basis points to 5.9 per cent in a bid to contain inflation which has been above its comfort level for the past many months. RBI had slashed the repo rate in March, 2020 with an aim to cushion the impact of covid-induced lockdown, and maintained status-quo in the benchmark interest rate for almost two years before increasing it on May 4, 2022. Since then RBI has raised rates by a total 190 basis points. RBI Governor Shaktikanta Das pointed out that while real GDP growth in the June quarter turned out to be lower than the central bank’s expectations, a late recovery in kharif sowing, comfortable reservoir levels, improvement in capacity utilisation, buoyant bank credit expansion and the government’s continued thrust on capex are expected to support aggregate demand and output in the six months ending March 2023. RBI has lowered the real GDP growth forecast for FY23 to 7% from 7.2% and maintained CPI inflation forecast at 6.7%.

1. A.K. Bhattacharya, Editorial Director, Business Standard
2. Anand Singh Bhal, Former Principal Economic Advisor, Govt. of India
3. Rajeev Mantri, Founder & MD, Navam Capital

Anchor: Vishal Dahiya
Producer: Sagheer Ahmad
Guest Coordinator: Anshuman, Vishwa Pratap Singh

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