Solution

  The RBI Monetary Policy Committee ( MPC ) has hiked the repo rate by 25 basis points . The Standing Deposit Facility and Marginal Standing Facility have also been increased by 25 bps . The MPC has raised the repo rate by a total of 250 basis points since May 2022. . RBI will remain focused on the withdrawal of accommodation after this revision too . The rates after revision are as follows - Inflation in the next fiscal year is expected to be 5.3 per cent for 2023-2024, with Q1 at 5 per cent, Q2 at 5.4 percent, Q3 at 5.4 per cent and Q4 at 5.6 per cent. RBI has pegged real GDP growth for FY24 at 6.4 per cent while growth for FY23 has been pegged at 7 per cent. The MPC has forecast Q1FY24 growth at 7.8 per cent, Q2 at 6.2 percent, Q3 at 6 per cent and Q4 at 5.8 per cent.