RBI Monetary Policy 2024: Repo Rate at 6.5%, Projected Real GDP Growth For FY25 at 7%

RBI’s Monetary Policy Committee Meeting 2024 was completed on February 8, 2024, and Governor Shaktikanta Das revealed the committee decision in a press release. Many important decisions were taken and one of those is regarding the repo rate which kept unchanged at 6.5% for the sixth time in the row.

The rate increase cycle was paused in April last year, after six consecutive rate hikes aggregating to 250 basis points since May 2022. He said MPC will remain watchful for the food inflation so that previous benefits gains must stay.

GDP Growth Projections

RBI projected a GDP Growth rate for FY25 at 7%, which is lower than the 7.3% expansion estimated for the current fiscal. The Governor said, Rural demand continues to gather pace, urban consumption remains strong and the investment cycle is good and coming back to track due to increased capital expenditure.
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