Home / News / India /  RBI projects retail inflation at 5.3% for next fiscal

The Reserve Bank of India (RBI) has projected retail inflation at 6.5% for FY2022-23, and 5.3% for the next fiscal, Governor Shaktikanta Das announced during the announced the Monetary Policy statement on Wednesday, February 8, 2023. 

It has also increased the repo rate by 25 bps. In its December monetary policy review, the central bank raised the key benchmark interest rate by 35 basis points (bps). 

"FY23 gross domestic product (GDP) growth estimate increased to 7% from 6.8%. RBI projects GDP growth at 6.4% for 2023-24," the Governor said. 

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