Fiscal stimulus moving beyond being supportive of consumption and liquidity to supporting growth-generating investment.
Following are the highlights of RBI Governor Shaktikanta Das’ statement and resolution of the Monetary Policy Committee (MPC):
* Benchmark rate kept unchanged for third time in a row at 4 pc
* Indian economy expected to contract 7.5 pc this fiscal, lower than 9.5 pc contraction projected in Oct
* Economy to clock growth of 0.1 pc in Q3; Q4 to see 0.7 pc growth
* Retail inflation projected at 6.8 pc in Q3, 5.8 pc in Q4
* Inflation to remain elevated, barring transient relief in the winter months * Fiscal stimulus moving beyond being supportive of consumption and liquidity to supporting growth-generating investment.
* Private investment still slack and capacity utilisation has not fully recovered
Source: Financial Express
