RBI Policy Highlights: GDP Growth Estimate For 2018-19 Retained At 7.4%
MUMBAI: The following are the highlights of the fifth bi-monthly monetary statement for 2018-19:
* Reverse repo rate stands at 6.25 per cent, bank rate at 6.75 per cent, cash reserve ratio at 4 per cent
* Projects retail inflation to be between 2.7-3.2 per cent in October-March
* Retains GDP growth estimate at 7.4 per cent for current fiscal*
*Projects April-September growth for 2019-20 at 7.5 per cent with downside risks
* Says time apposite to strengthen domestic macroeconomic fundamentals
* Fiscal discipline critical to create space and crowd-in private investment
* Lower rabi sowing may adversely affect agriculture, rural demand
* Financial market volatility, slowing global demand and rising trade tensions pose negative risk to exports
* Decline in crude oil prices is expected to boost growth prospects
* Credit offtake strengthened even as global financial conditions tightened
* Next meeting of the MPC on February 5-7.