‘Growth momentum needs to be strengthened’
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Policy support required: MPC minutes
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Policy support required: MPC minutes
The growth momentum needs to be strengthened for a sustained revival of the economy and a quick return to the pre-COVID trajectory, RBI Governor Shaktikanta Das said, pitching for a status quo on rates, at the last meeting of the Monetary Policy Committee (MPC).
All the six members of the MPC had voted for keeping the policy repo rate unchanged at 4% at the three-day meeting which began on February 3, citing similar reasons.
Mr. Das, according to the minutes of the meeting released by the central bank on Monday, had said: “Growth, although uneven, is recovering and gathering momentum, and the outlook has improved significantly with the roll-out of the vaccine programme in the country.”
MPC minutes: Growth momentum needs to strengthen further, says RBI guv
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The growth momentum, however, needs to strengthen further for a sustained revival of the economy, he added
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Mumbai: The country’s economic growth momentum needs to strengthen further for sustained recovery, said Reserve Bank of India Governor Shaktikanta Das during the monetary policy committee meeting, according to the minutes released on Monday.
“Growth, although uneven, is recovering and gathering momentum, and the outlook has improved significantly with the rollout of the vaccine programme in the country. The growth momentum, however, needs to strengthen further for a sustained revival of the economy and for a quick return of the level of output to the pre-COVID trajectory, he said.