RBI has many other tools to revive growth, not just interest rates: Das


PTI, Feb 6, 2020, 12:41 PM IST

Mumbai: After leaving benchmark interest rates unchanged in the second consecutive policy review, RBI governor Shaktikanta Das on Thursday said the central bank has many other instruments to address the sluggishness the economy, not just interest rates.

The Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy pegged GDP growth for FY21 at 6 per cent, but guided towards an uncertain inflation outlook.

In a January 31 release, the National Statistical Office (NSO) had revised down real GDP growth for FY19 to 6.1 per cent from 6.8 per cent provided in the provisional estimates of May 2019. Given this, the central bank noted that the economy is still plagued by deep output gaps.

“The RBI has several instruments to address the sluggishness in the growth momentum,” Das told reporters at the customary post-policy conference.

The monetary policy committee (MPC) kept the policy repo rate unchanged at 5.15 per cent, continuing with the accommodative stance to revive growth.

The governor said the continuity in policy from last pause should not be read as a pointer to future actions. “While the decision is as per expectations, it is important not to discount RBI,” he said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Udupi: GPS-Panic Button in taxis, drivers protest

Delhi-bound IndiGo aircraft diverted to Muscat due to technical issue

Economic Survey identifies areas for further growth as we move towards building ‘Viksit Bharat’: PM Modi

Government taking steps to reduce pending litigations under companies law: Finance Minister

ICC forms three-member committee to review conduct of T20 World Cup

Used to go to veg hotel run by Muslim in Kerala as he maintained standards: Supreme Court Judge

All airport operators to conduct third party audit of structural stability of buildings

Related Articles More

Pre-budget Survey highlights urgent need for agricultural reforms

Economic Survey calls for paradigm shift to counter rising mental health issues among Indians

Jindal Group begins probe against senior executive facing molestation charges

Job-for-locals bill: Skilling, not legislation, key to meet evolving industry demands, say experts

Nobody expects RBI to be cheerleader, coordination with government helped fast revival in economy: Governor Das

MUST WATCH

Brahma Kumaris

Tapta Mudra Dharana

Banana Farming

Aghnashini River

Dr. Rajkumar


Latest Additions

Udupi: GPS-Panic Button in taxis, drivers protest

Delhi-bound IndiGo aircraft diverted to Muscat due to technical issue

Economic Survey identifies areas for further growth as we move towards building ‘Viksit Bharat’: PM Modi

Government taking steps to reduce pending litigations under companies law: Finance Minister

ICC forms three-member committee to review conduct of T20 World Cup

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.