Contraction in economic growth behind us, silver linings are visible: RBI

TIMESOFINDIA.COM | Updated: Oct 9, 2020, 10:40 IST

NEW DELHI: Monetary Policy Committee (MPC) voted unanimously to keep policy repo rate unchanged at 4%. MPC also decided to continue with the accommodative stance of monetary policy as long as necessary at least through the current financial year and next year, announced Reserve Bank of India governor Shaktikanta Das on Friday.
READ MORE:Repo rate unchanged at 4%; GDP to contract by 9.5% in current FY: RBI governor
Here is a look at the some of the key points from Das' speech —

Contraction in economic growth of Q1 behind us; silver linings are visible.
Inflation likely to ease to projected target by Q4 of FY'21.
Focus must shift from containment to reviving economy.
Indian economy is entering into decisive phase in fight against coronavirus.
RBI to maintain accommodative monetary policy stance to support growth.

Inflation may ease to projected target by Q4 (fourth quarter) of FY21; while GDP (gross domestic product) growth may break out of contraction and enter positive zone by Q4 of current fiscal, Das further mentioned.
Das also stated that real GDP expected to contract by 9.5 per cent in the current fiscal.