You are here: Home » PTI Stories » National » News
Business Standard

FinMin says RBI's assessment of economy in line with govt's reading

Press Trust of India  |  New Delhi 

The Wednesday said the assessment of growth and made by the RBI's Committee (MPC) is line with government's reading.

has kept the key lending rate unchanged. The panel retained its GDP growth projection of the current fiscal at 7.4 per cent and expects to remain well below the mid-term target of 4 per cent.

"The assessment of the for growth and outlook is consistent with the government's assessment of inflation and growth," said Subhash Chandra Garg, Secretary, Economic Affairs, in a statement.

The government, he said, welcomes the assessment made by the

The RBI has also decided to reduce Statutory Liquidity Ratio or portion of funds banks have to mandatorily park in government securities from existing 19.5 per cent to 18 per cent in six quarterly instalments beginning January 2019.

"This will have some implications for the government securities. However, the momentum created by the reduction in and reversal of foreign flows has resulted in further moderation of yields post policy announcement," Garg said.

Next meeting of the six-member MPC will take place for three days from February 5, 2019.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 05 2018. 21:15 IST