RBI Policy

RBI raised repo rates by 25 bps to 6.5%.
GDP growth is expected to be 7% in this fiscal and 6.4% in FY 24.
Inflation is expected to be above comfort zone of 4%, but could moderate down to an average of 5.3% in FY 24.
Non food credit growth is 16.7%.
Good Rabi harvest is expected to keep Food inflation down.
Current account deficit stood at 3.3% of GDP in H1 of FY 23 and is likely to come down. 
Current account deficit is manageable and FX reserves is comfortable.
FDI inflows stood at USD 22.3 bn in Apr- Dec period. FPI flows was in surplus at USD 8.5 bn in July till date.
Remittances climbed 26% in Q1 of 22-23 fiscal.
USDINR is 82.68, Nifty is at 17832, up 0.65%. 10 Year yield is at 7.34%.

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