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The Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy pegged GDP growth for FY21 at 6 per cent, but guided towards an uncertain inflation outlook.
In a January 31 release, the National Statistical Office (NSO) had revised down real GDP growth for FY19 to 6.1 per cent from 6.8 per cent provided in the provisional estimates of May 2019. Given this, the central bank noted that the economy is still plagued by deep output gaps.
“The RBI has several instruments to address the sluggishness in the growth momentum,” Das told reporters at the customary post-policy conference.
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The governor said the continuity in policy from last pause should not be read as a pointer to future actions. “While the decision is as per expectations, it is important not to discount RBI,” he said.