Projection of real GDP growth for FY2021-22 retained at 10.5%: RBI

New Delhi: The Reserve Bank of India (RBI) during its Monetary Policy Committee announcements today retained the GDP growth forecast at 10.5 per for the current fiscal. MPC saw inflation edging up to 5.2 per cent in the first half of the new fiscal from 5 per cent in the January-March period and moderate to 4.4 per cent in Q3 of FY22.

RBI Governor Shaktikanta Das said, "The projection for real GDP growth for FY2021-22 is retained at 10.5 per cent, consisting of 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4 of FY21-22."

RBI has expectedly left interest rates unchanged and maintained an accommodative stance as the economy faces a renewed threat to growth due to the resurgence of coronavirus cases.

The central bank kept the benchmark repurchase rate unchanged at 4 per cent and maintained accommodative policy stance to support growth.