“Today’s RBI monetary policy decision to maintain policy rates and stance, aligns with our expectations in this dynamic economic environment. The MPC’s focus on managing inflation while nurturing growth underscores the delicate balance needed for sustainable economic progress. The focus on ‘withdrawal of accommodation’ stance is expected to continue with volatile inflationary pressure due to the anticipation of a sub-normal to normal monsoon. Even though inflation remains a challenge, RBI remains focused to achieve an inflation target of 4 per cent, and they will not look at any drastic change, since India continues to outperform other countries in terms of consumption, especially as we stand at the beginning of the festive season”
Sanjay Palve, Senior Managing Director, Essar Capital Ltd.
“In the ever-evolving global arena, our nation’s economic strength shines, making a significant 15% contribution to worldwide growth. The MPC’s dedication works to harmonise inflation with a 4% objective. Demonstrating prudence, the RBI retains the repo rate at 6.5%, upholding stability while envisioning a steady 6.5% growth for FY’24 despite inherent uncertainties. We hope to see reduction in rates in months to come.”
Rajiv Agarwal, MD & CEO, Essar Ports
“The recent RBI Monetary Policy announcement echoes our unwavering commitment to steer India’s growth momentum. With the key policy repo rate maintained at 6.5%, we acknowledge the strides taken to stabilise our economic landscape. While inflationary pressures still exists, challenges linger owing to global uncertainties, volatile commodity prices, and geopolitical complexities. The RBI Monetary Policy Committee’s steadfast choice to uphold the repo rate underscores a vigilant approach. As we project a 6.5% GDP expansion in FY24 and anticipate around 5.4% inflation, India remains a stalwart of stability and resilience on the world stage.”
Pankaj Kalra, CEO, EOGEPL