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LATEST NEWS UPDATES | Conflicting economic, strategic interests loom over RBI’s Monetary Policy Committee meeting -Mitali Mukherjee

Conflicting economic, strategic interests loom over RBI’s Monetary Policy Committee meeting -Mitali Mukherjee

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published Published on Apr 5, 2022   modified Modified on Apr 8, 2022

-Scroll.in

Warming up to Russia may help as growth forecasts have been cut and fuel prices are rising but could sabotage the tightrope New Delhi is walking with the West.

The Reserve Bank of India’s Monetary Policy Committee meeting will kick off on April 6. Much has happened on the politico-economic landscape since the central bank last met and spoke. For starters, growth targets are seeing some salami-slicing of their own. On the other hand, in an almost see-saw move, inflation targets are being hiked.

American brokerage firm Morgan Stanley has cut its real gross domestic product, or GDP, growth estimate for the financial year 2022-’23 in India by 50 basis points to 7.9%. A basis point is one-hundredth of a percent. Morgan Stanley has also raised its inflation forecast to 6% – the upper end of the tolerance band for the Reserve Bank of India – and flagged stagflation risks.

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Scroll.in, 5 April, 2022, https://scroll.in/article/1021012/?fbclid=IwAR23AUjQajTBAYqyVVcEKt4wiC5KoF5BuUeSxs8qwd6FVvf9qKUN2Xbnt8E


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