RBI MPC: The Reserve Bank gave a shock by reducing this year's GDP growth estimate, giving this reason


Posted on 6th Dec 2024 12:01 pm by rohit kumar

The Reserve Bank has reduced the GDP estimate for the financial year 2024-25 and this is a surprising step. This change regarding the economic growth rate of the country can also become a cause of concern for the government. The Governor of the Reserve Bank said that apart from the central bank, the challenges being seen in geo-politics remain a big issue for all countries. Apart from this, the latest inflation figures and the low GDP rate in the second quarter are also a cause for concern.

 

RBI reduced GDP estimate for the financial year 2024-25

 

Among the big decisions announced by the RBI, the announcement of reducing the estimate of the country's economic growth rate (GDP) is important. The RBI has reduced the GDP estimate for the financial year 2024-25 to 6.6 percent, which was earlier at 7.2 percent. Keep in mind that in the October credit policy, the Reserve Bank has estimated the gross domestic product or GDP of the current financial year at 7.2 percent.

 

How will the GDP be in the remaining quarters of FY 2024-25

If we look at the GDP figures in the remaining quarters of this year, then GDP growth is estimated to be 6.8 percent in the third quarter (October-December) of FY 2024-25. After this, the GDP rate is estimated to be 7.2 percent in the fourth quarter (January-March) of the current financial year.

 

Growth estimate for the first-second quarter of FY 2025-26

 

RBI's growth estimate in the first quarter of FY 2025-26 has come at 6.9 percent and along with this, RBI has given an estimate of GDP growth rate to be 7.3 percent in the second quarter of the next financial year in this credit policy.

 

Reserve Bank kept the repo rate intact at 6.5 percent.

 

RBI Governor Shaktikanta Das gave information about the decisions taken in the three-day meeting of the Monetary Policy Committee (MPC) which started on Wednesday. The MPC has decided to keep the repo rate at the same level i.e. 6.5 percent. Four out of six members of the MPC voted to keep the policy rate stable while two were in favor of changing it.

1 Like 0 Dislike
Previous news Next news
Other news

Saif Ali Khan: Saif reached the hospital one and a half hours after the attack, not son Ibrahim but this person helped him get there

A new and shocking update has emerged in the case of the knife attack on actor Saif Ali Khan. Aft

PM Modi: Rishi Sunak met PM Modi with his family, India-UK relations were discussed

Prime Minister Narendra Modi on Tuesday met former British Prime Minister Rishi Sunak and praised

Rahul Gandhi: 'Congress ignored Dalits and backward classes in the 90s', Rahul said- the party lost their trust

Congress leader Rahul Gandhi said that in the 1990s, the Congress ignored the interests of Dalits

Saif Ali Khan Attack: New twist in Saif Ali Khan attack case, accused in 14 days judicial custody

A court here on Wednesday refused to send Bangladeshi national Mohammad Shariful Islam, arrested

Raja Raghuvanshi: Who attacked Raja first as soon as Sonam signaled? Many revelations were made in the crime scene recreation.

Meghalaya Police recreated the crime scene of Raja Raghuvanshi's murder in Sohra. Police took Vis

'The perfectionist has failed...', Aamir Khan recreates the viral meme of chess player Magnus Carlsen.

At this time, a video of Norway-based chess player and five-time champion Magnus Carlsen is going

Delhi High Court Bomb Threat: An email with a bomb threat was received in Delhi High Court, causing panic; the premises were evacuated.

The Delhi High Court received a bomb threat via email on Friday. As soon as the email was receive

IND vs SA: Captain Shubman ruled out of second Test, will travel to Mumbai for treatment, Pant will take charge in Guwahati

A major update has emerged from the two-match Test series between India and South Africa. Captain

Pollution in Delhi-NCR is out of control, with AQI exceeding 500 in many areas; GRAP-3 restrictions ineffective.

The air in Delhi-NCR has once again become a burden on people's breathing. Due to the drop in tem

Noida-Delhi commuters troubled by farmers' protest, many routes closed, know what are the demands?

Traffic remained sluggish on Tuesday i.e. today also due to the farmers' protest on the Delhi-Noi

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash