Mumbai. The decision of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) was announced on Wednesday. The repo rate has been kept constant at 6.5 percent by the central bank. RBI Governor Shaktikanta Das said that five out of six MPC members were in favor of maintaining the repo rate at 6.5 percent. Along with keeping the interest rates stable, the monetary policy stance of the MPC has been changed from Withdrawing Accommodation to Neutral. This will help the central bank to decide the interest rates according to the direction of inflation. The Governor further said that the GDP growth rate may remain at 7.2 percent in the financial year 2024-25. However, the estimate of GDP growth rate for the second quarter of the financial year 2024-25 was reduced to 7 percent, which was earlier 7.2 percent. Apart from this, the growth rate estimate for the third quarter of the financial year 2024-25 has been increased to 7.4 percent, which was earlier 7.3 percent. At the same time, the growth rate estimate for the fourth quarter of the financial year 2024-25 has been increased to 7.4 percent, which was earlier 7.2 percent.
The growth rate estimate for the first quarter of financial year 2025-26 has been increased to 7.3 percent, which was earlier 7.2 percent. According to the Central Bank, the inflation rate may remain at 4.5 percent in the financial year 2024-25. Apart from this, the estimate of inflation rate in the second quarter of the financial year 2024-25 has been reduced from 4.4 percent to 4.1 percent, the estimate of inflation rate in the third quarter has been increased from 4.7 percent to 4.8 percent and the estimate of inflation rate in the fourth quarter has been reduced from 4.3 percent. Made it 4.2 percent. At the same time, the inflation rate estimate for the first quarter of the financial year 2025-26 has been reduced from 4.4 percent to 4.3 percent. Governor Das said that inflation is expected to increase in the September figures. This is due to food product prices, unfavorable base and recent rise in metal prices.