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
Related Articles More
Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action
Four-day market rally makes investors richer by Rs 8.48 lakh crore
Kotak Bank barred from onboarding customers online, issuing fresh credit cards
Reverse migration has begun, says FM Nirmala Sitharaman
Markets sustain winning streak — Sensex jumps over 560 points, Nifty tops 22,300-level
MUST WATCH
Latest Additions
NIA arrests key accused in 2023 attack on Indian High Commission in London
Three persons run over by train in Bengaluru
Indian nationals aboard ‘MSC Aries’ in good health, return delayed due to technicalities: MEA
Husband has no control over wife’s ‘stridhan’: SC
IT sleuths threatening raided leaders to claim money belongs to me, Cong: DK Shivakumar