Monetary policy to focus on lowering inflation: RBI Guv Das

The country is moving towards a path where 8% real GDP growth can be sustained on a yearly basis, RBI Governor Shaktikanta Das said

Reserve Bank Governor Shaktikanta Das on Tuesday asserted that the high interest rates are not impeding growth, and made it clear that the monetary policy will “unambiguously” focus on getting down inflation going forward.

The country is at the threshold of a “major structural shift” in its growth trajectory and is moving towards a path where 8 per cent real GDP growth can be sustained on a yearly basis, Das said addressing an event by Bombay Chamber of Commerce and Industry here.

“Normally if growth is well sustained, if you’ve good growth, then it is a clear sign that your monetary policy and your interest rates are not acting as an impediment to growth,” Das said. Addressing the debate on the sacrifices to growth because of the elevated interest rates, Das said all such concerns are misplaced and the growth momentum is continuing month on month.