Economic analysts also said that the RBI's move to not touch the existing policy rates will have a negative impact on the growth rate in coming times. “ Growth is going to come down. RBI has itself said that it expects the growth rate at 6.5% (during FY2012-13). Earlier the RBI has predicted 7.3% growth rate. Monsoon is delayed and inadequate. This will impact production and prices,” said Panandiker.
“This year the growth rate would be sub-6%. The current RBI step will add to the woes related with economic growth,” said Thunuguntla.
Today the RBI after its first quarter monetary policy review announced that the repo rate will not be changed and it will remain at 8%. The RBI did not touch the reverse repo rate as well and kept it at 7% The rate of Cash Reserve Ration also remains same at 4.75%.
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