Staying the course

Mr Das has set the record straight

The 50th Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI), which ended on Thursday, was widely expected to be a non-event. In line with market expectations, the committee decided to leave the policy rate and stance unchanged. Consequently, the policy repo rate remains at 6.5 per cent. The MPC also decided to retain the growth and inflation projections. It expects the Indian economy to expand 7.2 per cent this financial year. The growth rate in the first quarter of next financial year is expected to be the same — 7.2 per cent. On