Question: Recently Reserve Bank of India released Sixth Bi-monthly Monetary Policy Statement, 2016-17 Resolution of the Monetary Policy Committee (MPC), accordingly GVA growth for 2017-18 is projected at-
(a) 6.9%
(b) 7.4%
(c) 7.1%
(d) 7.0%
Ans. (b)
Related facts:
- On 8 February 2017 Reserve Bank of India released its Sixth Bi-monthly Monetary Policy Statement, 2016-17 Resolution of the Monetary Policy Committee (MPC).
- RBI kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 per cent.
- Also, the reverse repo rate under the LAF remains unchanged at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.
- Statutory Liquidity Ratio (SLR) remained unchanged at 20.75 per cent.
- Reserve Ratios Cash Reserve Ratio (CRR) of scheduled banks also remained unchanged at 4.0 per cent of net demand and time liability (NDTL).
- GVA growth for 2016-17 is projected at 6.9 per cent and GVA growth for 2017-18 is projected at 7.4 per cent.
- Inflation is projected in the range of 4.0 to 4.5 per cent in the first half of the financial year and in the range of 4.5 to 5.0 per cent in the second half of 2017-18.
- The next meeting of the MPC is scheduled on April 5 and 6, 2017.
Reference:
http://downloadpolicy2.rbi.org.in/PR21164542C3DF7FC944278648E394CAF8D68E.PDF
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=39505