RBI Governor met Finance Minister Nirmala Sitharaman. Loktej Business News
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New Delhi, March 20 (HS). Reserve Bank of India (RBI) Governor Shaktikanta Das paid a courtesy call on Union Finance and Corporate Affairs Minister Nirmala Sitharaman in New Delhi on Wednesday. This meeting of Shaktikanta Das with Finance Minister Sitharaman took place about a fortnight before the review meeting of the Monetary Policy Committee (MPC).
Finance Minister’s office said in a statement issued on ‘X’ post that RBI Governor Shaktikanta Das paid a courtesy call on Finance Minister Nirmala Sitharaman. The meeting of the Monetary Policy Committee (MPC) headed by Shaktikanta Das will be held between April 3 and 5. This will be the first MPC meeting of the upcoming financial year 2024-25.
Economic experts believe that in the MPC meeting starting from April 1, 2024, estimates on inflation and economic growth scenario for the next financial year 2024-25 will be presented. In its last policy meeting in February, RBI had estimated the economic growth rate to be seven percent and the inflation rate to be 4.5 percent for the next financial year 2024-25.
It is noteworthy that RBI said in a bulletin issued on Tuesday that the pressure of food prices remains an obstacle in rapidly bringing inflation down to the Reserve Bank’s target of four percent. However, retail inflation based on Consumer Price Index (CPI) has come down since December, which stood at 5.09 percent in February.
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