The Secretary,Department of Economic Affairs,Shri Subhash Chandra Garg said that the Monetary Policy Committee (MPC) in its 6th bi-monthly Statement, issued on 07.02.2018, updated its inflation and real GDP growth projections for this year and for 2018-19.  The Secretary,DEA,Shri Garg said that MPC expects growth to accelerate in 2018-19, while inflation to converge back towards its target level in the second half of next fiscal year.  The Government welcomes the MPC’s assessment and notes its decision to maintain the Policy Rate, Shri Garg added. 

Policy rate decision: MPC maintains policy rate as government notes growth acceleration and inflation convergence. MPC updated inflation and real GDP growth projections, projecting growth acceleration in 2018-19 and inflation converging to target in the second half of the next fiscal year; the Government welcomed this assessment and noted the MPC's decision to maintain the Policy Rate.