Monetary Policy Committee revises forecast of real GDP growth to 7.4 percent
The government has welcomed the monetary policy statement. In his statement welcoming the policy statement, issued today, Secretary, DEA, Sh Subhash Chandra Garg said “The Monetary Policy Committee (MPC) today revised upwards its forecast of real GDP growth from 7.2 percent in its February 2018 Statement to 7.4 percent, broadly in line with the forecast in the Economic Survey. In its first bi-monthly statement of 2018-19, issued here today, the MPC has updated its real GDP growth and inflation projections for 2017-18 and 2018-19”.
He further added “Inflation in Q4 2017-18 has been revised downwards from 5.1 percent to 4.5 percent. Further, the inflation forecast for H1 2018-19 has been revised downwards from 5.1 -5.6 percent to 4.4-4.7 percent, and from 4.5-4.6 percent to 4.4 percent in H2 2018-19. The MPC has maintained all policy rates unchanged. Government welcomes the policy statement.”
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DSM/AM/KA
