This
is the third successive year of 7% or higher growth,” Das said. The governor stressed that the growth and inflation
dynamics have played out favourably since the last policy. He said robust growth prospects provide
policy space to remain focused on inflation.
The Governor however highlighted that while inflation
is moving closer to target, the last
mile of inflation is turning out to be challenging. The RBI MPC has
retained its CPI (consumer price index) inflation forecast for FY25 at 4.5%
The RBI also left its repo rate unchanged at
6.5%, in line with market watchers and economists’ expectations.
This
was the seventh straight instance of the policy rates being left unchanged by
India’s central bank