The Reserve Bank of India (RBI) has increased the interest rate by 50 basis points
the repo rate has now increased by 0.50 percent. After this decision of RBI
the repo rate has increased from 5.4 percent to 5.9 percent.
RBI Governor Shaktikanta Das said that the Indian economy remains resilient despite global constraints
For the financial year 2023, the Reserve Bank has kept the GDP growth forecast at 7 per cent, earlier the estimate was 7.2 per cent.
In this financial year, the growth rate between July-September is estimated to be 6.3%
in October-December i.e. third quarter it is 4.6% and in fourth quarter i.e. January-March it is estimated at 4.6%.