RBI hiked repo rates by 50 bps to 5.9%.
1)GDP growth is expected to be 7% in this fiscal.
2)Inflation is expected to be 6.7% for this fiscal.
3)FX reserves declined due to valuation aspects and judicious intervention.
Current account deficit is 2.8% of GDP in Q1. Trade deficit stands at 8.1% of GDP in Q1. Service exports grew by 35% in Q1 and remittances grew by 22%. These invisible surplus helped in reining CAD to 2.8% in Q1.
4)FDI climbed to USD 18.4 bn in Q1 as against USD 13.5 bn in Q1 of last fiscal.
RBI Governor said that policy will evolve with data and Global developments. He added that it is difficult to give forward guidance on terminal interest rate. India is relatively better placed on all external fronts compared to EM peers. India’s external debt to GDP is very favorable compared to EM peers.
Indian Equities is climbing after policy decision. Rupee is steady at 81.60. 10 Year yield is at 7.38%.
Click to open an Account : https://ekyc.gwcindia.in/client/
For all your investment needs feel free to reach us.
Give us Missed Call us on 90037 90027 . For Support : 044-40329999