RBI increased Repo Rate by 50 bps in India and now the new repo rate of RBI was 4.9%. RBI is central bank of India.
Prior to 1.5 months, the RBI increased repo rate by 40 bps.
Mainly RBI increasing interest rate to control inflation.
As per RBI Governor Shaktikanta Das, the raise in inflation is mainly due to supply chain shocks that are mainly linked to war.
RBI is expecting the inflation will be above upper tolerance level i.e 6% for quarters ending Jun-2022, Sep-2022, Dec-2022.
NSO estimated GDP growth for FY2021-22 was 8.7%
The estimated GDP growth for FY2022-23 is 7.2%.
Estimated quarterly GDP growth numbers of India by RBI
Estimated real GDP growth for quarter ending June-2022 was 16.2%.
Estimated real GDP growth for quarter ending Sep-2022 was 6.2%.
Estimated real GDP growth for quarter ending Dec-2022 was 4.1%.
Estimated real GDP growth for quarter ending Mar-2023 was 4%.
Estimated quarterly inflation numbers of India by RBI
Estimated inflation for quarter ending June-2022 was 7.5%.
Estimated inflation for quarter ending Sep-2022 was 7.4%.
Estimated inflation for quarter ending Dec-2022 was 6.2%.
Estimated inflation for quarter ending Mar-2023 was 5.8%.