Question – On October 8, 2021, the Monetary Policy Committee under the chairmanship of Reserve Bank of India Governor Shaktikanta Das released the Monetary Policy Statement. According to this, the economy is expected to grow at what percentage in the year 2021-22?
(a) 9.5 percent
(b) 8.5 percent
(c) 6.5 percent
(d) 7.5 percent
Answer—(a)
Related facts—
- On 8 October 2021, the Monetary Policy Committee, chaired by the Reserve Bank of India Governor Shaktikanta Das, released the Monetary Policy Statement, 2021-22.
- In this monetary policy, there was no change in the repo rate and reverse repo rate under the liquidity adjustment facility and it has been kept unchanged at 4 percent and 3.35 percent respectively.
- While the marginal standing facility rate and the bank rate have been kept unchanged at 4.25 per cent.
- The statutory liquidity ratio of scheduled commercial banks remains unchanged at 18 per cent.
- The cash reserve ratio, net demand and time liabilities of scheduled commercial banks have been kept unchanged at 4 per cent.
- The Reserve Bank has retained the real GDP growth forecast for the current financial year 2021-22 at 9.5 per cent.
By — Pankaj Pandey.
Link:
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=52366