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The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) announced a 50 basis points (bps) hike in the repo rate to 5.90 per cent on Friday in order to bring elevated inflation back to its target.
CPI inflation for the current financial year is seen at 6.7 per cent, with the price gauge seen at 7.1 per cent in July-September, 6.5 per cent in October-December and 5.8 per cent in January-March. CPI inflation is seen at 5 per cent in the first quarter of the next financial year.
GDP growth in July-September is seen at 6.4 per cent, and that for October-December is seen at 4.6 per cent. The growth in January-March is seen at 4.6 per cent and that for the first quarter of the next financial year is seen at 7.2 per cent.
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