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As I make this statement, I look back at the traumatising experience with two waves of an existence-defining pandemic. Virtually every aspect of human life has been drastically altered. Yet, what has been achieved on this troubled journey has been no less extraordinary. We are now better prepared to deal with the invisible enemy, COVID-19, which keeps threatening the entire world from time to time and even more recently. 2. The Indian economy has literally hauled itself out of one of the deep
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FAQ :
The MPC voted unanimously to maintain the status quo on the policy repo rate, keeping it unchanged at 4 per cent.
The MPC decided by a majority of 5 to 1 to retain the accommodative policy stance.
Price stability remains the cardinal principle for monetary policy, as it fosters growth and stability.
The MPC noted that economic activity is improving, but headwinds from global developments and the Omicron variant pose risks. Continued policy support is deemed necessary for a durable and broad-based recovery, especially as private consumption is still below pre-pandemic levels.
CPI inflation is projected at 5.3 per cent for 2021-22, with risks broadly balanced.
The RBI will continue to rebalance liquidity by shifting absorption from the fixed rate overnight reverse repo window to variable rate reverse repo (VRRR) auctions of longer maturity, enhancing VRRR auction amounts progressively.
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