"Restoring the inflation-growth balance is the most important task ahead for the RBI. I am sure that Team RBI, under the leadership of the new governor, will take it forward," Das said during his last press conference as RBI governor.
While announcing the monetary policy review last week, Das had said the committee remains committed to restoring the inflation-growth balance in the overall interest of the economy. This is in contrast to his earlier remark made in October that the "balance between inflation and growth is well-poised". In October, retail inflation shot up 6.2 per cent, while gross domestic product (GDP) growth for the July-September quarter dropped to 5.4 per cent.
On growth slowdown and higher interest rates, Das said while everyone is entitled to their views, outgoing RBI Governor Shaktikanta Das believes growth is influenced by multiple factors, not just the repo rate. He emphasised that the Indian economy is resilient and robust, with the capacity to effectively manage global spillovers.
This story is from the December 11, 2024 edition of Business Standard.
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This story is from the December 11, 2024 edition of Business Standard.
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