New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das says that the country’s growth rate is expected to be six percent in the next financial year. At the same time, he said that the rate of reduction in the policy rate (repo rate) will improve further in the coming days. Along with this, the activities of raising loans in the economy have also improved.
The central bank did not change the policy rate in its first monetary review policy of 2020 earlier this month due to rising inflationary pressures and global market conditions.
In a meeting with reporters here after the meeting of the board of directors of the Reserve Bank, Das said that the downward impact of the reduction in policy rate has been steadily improving. It is expected to improve further.
Finance Minister Nirmala Sitharaman also addressed the meeting of the Central Board of Directors. Banks are being monitored for the flow of credit in the agricultural sector. RBI Governor Das said that the country’s growth rate is expected to be six percent in the next financial year.
Shaktikanta Das said that the Monitoring Policy Framework (MPF) has been working for the last three years. The central bank is internally analyzing how effective the MPC framework has been. He said that the Reserve Bank of India will also negotiate with the government if the need arises.