Edited excerpts: RBI Governor Shaktikanta Das' initial remarks highlight 9 points 1. Domestic economic activity continues to be strong. We expect real gross domestic product (GDP) growth of7 percent in 2024-25.
2. Consumer Price Index (CPI) inflation is moderating with intermittent interruptions and spikes. We have to remain vigilant about the incoming data and the outlook. Our endeavour to achieve 4 percent inflation on a durable basis has to continue.
3. Global markets are front-running central banks in anticipation of policy pivots. But central banks remain apprehensive and await a more durable alignment of inflation with the targets.
4. Liquidity will be actively managed by the RBI.
5. Our multi-pronged, proactive, calibrated policies have worked well to maintain and strengthen financial stability.
6. Systemic, sectoral, and institution-specific signs of stress are being proactively monitored and acted upon wherever necessary.
7. Good governance, robust risk management, sound compliance culture, and protection of customers' interests are the hallmarks of RBI's approach to the safety and stability of the financial system and individual financial institutions. Regulated entities must accord the highest priorities to these aspects.
8. The external sector of the economy remains resilient. The current account deficit is expected to be eminently manageable.
This story is from the February 09, 2024 edition of Business Standard.
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This story is from the February 09, 2024 edition of Business Standard.
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