RBI's neutral policy stance a recognition of under-control inflation, says Finance Ministry
RBI's Monetary Policy Committee recognised inflation remains firmly under control, retaining its inflation projection
New Delhi: Reacting cautiously, the government on Wednesday said it has taken note of the RBI maintaining status quo on key lending rates and said a neutral policy stance reflected recognition of the fact that inflation remained "firmly under control".
"The Monetary Policy Committee (MPC) recognized that inflation remains firmly under control, retaining its inflation projection for the second half of FY 2018 and assessing that the risks to this projection are evenly balanced. For that reason, it has maintained a neutral policy stance," a Ministry statement said.
"The MPC has also retained its annual GVA forecast for FY18 of 6.7 per cent recognising several significant developments and emphasizing the government's reform efforts such as GST, Bank Recapitalization Package and improving Ease of Doing Business Ranking," it added.
Petrol Diesel price today: In Delhi, petrol prices were up 35 paise on Thursday to reach Rs 101.54 a litre while the rate of diesel was at Rs 89.87. Prices remained unchanged on Friday
Fuel price hike: Petrol becomes dearer by 24 paise in Mumbai at Rs 107.54 per litre, diesel up 15 paise at Rs 94.39
Petrol and diesel price hiked today: In Delhi, petrol costs Rs 101.54 a litre while the rate of diesel was at Rs 89.87. Check latest rates in your city Latest Petrol and diesel prices at Firstpost.com
Scheduled commercial banks (SCBs) were carrying NPAs worth Rs 8.96 lakh crore on their balance sheet at the end of March 2020