Monetary Policy Committee comprises of 6 members has decided to cut in favour of 4 :2
Who are the 6 members of RBI MPC
Governor – Shaktikanta Das, Ravindra Dholakia, Michael Debabrata Patra & Pami Dua voted in favour of the decision to reduce the policy repo rate by 25 basis points while Viral Acharya & Chetan Ghate voted to keep the policy rate unchanged
Current Repo Rate is 6 %
RBI now estimates Consumer price Inflation (CPI)
For 1st half i. e April to September 2019 to be 2.9 to 3 %
September to March 2020 to be 3.5 to 3.8 %
The current consumer Inflation rate is 2.57%
Wholesale inflation is 2.93 %
Core Inflation is 5.3%
RBI expects GDP to be 7.2 % for financial year April 2019 to March 2020
RBI expects second half GDP would pick up then first half of financial year
Rating Agency FITCH expects India’s GDP at 6.8 % for 2020
7.1 % for 2021
The RBI rate cut is consistent with RBI’s policy stance, I think it will be good for growth: Chief Economic Advisor, Krishnamurthy Subramanian
Sagar U.S
Stocktale
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Krishna murthy subramanian
6.8℅
2.57%