The central bank has raised the key policy rate by a cumulative 1.9 percentage points in four successive reviews beginning May to 5.9%, above pre-pandemic levels. Last month, the RBI retained its inflation projection for FY23 at 6.7% while lowering the growth forecast to 7% from 7.2% estimated earlier. On March 31, 2021, the Centre retained the inflation target and the tolerance band for the next 5-year period - April 1, 2021, to March 31, 2026. | Subscribe To Our Free Newsletter |
