Government of India welcomes the First bi-monthly Statement of FY 2018-19 of the Monetary Policy Committee (MPC)

The Ministry of Finance, Government of India welcomes the First bi-monthly Statement of the Monetary Policy Committee (MPC) in the Financial Year 2018-19.

Earlier, the Monetary Policy Committee (MPC) in its first bi-monthly Statement of 2018-19, issued yesterday, updated its real GDP growth and inflation projections for 2017-18 and 2018-19.  The MPC revised upwards its forecast of real GDP growth from 7.2 % in its February 2018 Statement to 7.4 %, broadly in line with the forecast in the Economic Survey. Inflation in Q4 2017-18 has been revised downwards from 5.1 % to 4.5 %. Further, the inflation forecast for H1 2018-19 has been revised downwards from 5.1 -5.6 percent to 4.4-4.7 percent, and from 4.5-4.6 percent to 4.4 percent in H2 2018-19.  MPC has maintained all policy rates unchanged. The Government of India has welcome the Policy Statement.