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    Question

    The Reserve Bank of India Governor Shaktikanta Das-headed Monetary Policy Committee and  has decided not to raise the repo rate, keeping it at 6.5%.In addition to this, a slew of decisions have also been made-

    I.CPI inflation is projected at 4.8 per cent for 2023-24.

    II.Real GDP growth for 2023-24 is projected at 6.5 per cent

    III.The Standing Deposit Facility Rate has been increased to 6.35 percent.

    Which of the following statements is/are true about the decisions made at the MPC Meet?

    A Only I Correct Answer Incorrect Answer
    B Only I & II Correct Answer Incorrect Answer
    C Only II Correct Answer Incorrect Answer
    D Only II & III Correct Answer Incorrect Answer
    E All of these Correct Answer Incorrect Answer

    Solution

    Reserve Bank of India Governor Shaktikanta Das-headed Monetary Policy Committee has decided not to raise the repo rate, keeping it at 6.5%.   The RBI MPC maintained the withdrawal of accommodation stance. CPI inflation is projected at 5.2 per cent for 2023-24,with Q1 at 5.1 per cent, Q2 at 5.4 per cent, Q3 at 5.4 per cent and Q4 at 5.2 per cent,and risks evenly balanced.      Real GDP growth for 2023-24 is projected at 6.5 per cent with Q1:2023-24 at 7.8 per cent; Q2 at 6.2 per cent; Q3 at 6.1 per cent; and Q4 at 5.9 percent.   The rates are as follows – 

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