Speed Post News Network
New Delhi : The Ministry of Finance, Government of India, has welcomed the first bi-monthly statement of the Monetary Policy Committee (MPC) in the Financial Year 2018-19.
The Monetary Policy Committee (MPC), in its first bi-monthly Statement of 2018-19, issued on April 5, 2018, updated its real GDP growth and inflation projections for 2017-18 and 2018-19. The MPC revised upwards its forecast of real GDP growth from 7.2 % in its February 2018 statement to 7.4 %, broadly in line with the forecast in the Economic Survey. Inflation in Q4 2017-18 has been revised downwards from 5.1 % to 4.5 %, according to a PIB release.
Further, the inflation forecast for H1 ( half first ) 2018-19 has been revised downwards from 5.1 -5.6 percent to 4.4-4.7 percent, and from 4.5-4.6 percent to 4.4 percent in H2 ( half second ) 2018-19. The MPC has maintained all policy rates unchanged.