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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Monetary Policy Statement, 2024-25

05-Apr-2024 | 2024-2025/42

RBI has issued a Press release on Monetary Policy Statement, 2024-25 in line with the Monetary Policy committee meet from April 3 to 5, 2024.


Key highlights of the statement are:-


(i) Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.

(ii) Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.

(iii) The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.

(iv) As per the second advance estimates (SAE), real gross domestic product (GDP) expanded at 7.6 percent in 2023-24 on the back of buoyant domestic demand. Real GDP increased by 8.4 percent in Q3, with strong investment activity and a lower drag from net external demand. On the supply side, gross value added recorded a growth of 6.9 percent in 2023-24, driven by manufacturing and construction activity.

(v) Real GDP growth for 2024-25 is projected at 7.0 per cent with Q1 at 7.1 per cent, Q2 at 6.9 percent, Q3 at 7.0 per cent, and Q4 at 7.0 percent.

(vi) CPI inflation for 2024-25 is projected at 4.5 per cent with Q1 at 4.9 per cent, Q2 at 3.8 per cent, Q3 at 4.6 per cent ,and Q4 at 4.5 percent.

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