RBI retains repo rate at 6.5%, GDP growth at 7%, inflation at 5.4%

RBI Retains Repo Rate At 6.5%, GDP Growth At 7%, Inflation At 5.4%

by Utkalika Mohanty

NEWS HIGHLIGHTS

The Monetary Policy Committee of the Reserve Bank of India (RBI) in its December review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining status quo for the fifth straight time.

Chennai, Dec 8: The Monetary Policy Committee of the Reserve Bank of India (RBI) in its December review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining status quo for the fifth straight time.

Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta Das said on Friday that the committee unanimously decided to keep the repo rate at 6.5 per cent.

He also said that five out of six MPC members voted for the continued stance of withdrawal of accommodation.

Das said taking into account the economic factors, the MPC has predicted GDP growth at 7 per cent in FY24.

As regards the inflation rate, the MPC forecast was 5.4 per cent for 2023-24 taking into account the various domestic issues, including potential agricultural produce.

Das also said uncertainty exists due to the geopolitical situation.

The MPC is alert and prepared to take necessary actions that are needed, he said.

The MPC met on December 6-8.

(IANS)

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PM Modi To Chair 9th Governing Council Meeting Of NITI Aayog In New Delhi Today

by Hemanta Pande

New Delhi, July 27: Prime Minister Narendra Modi will chair the 9th Governing Council Meeting of the National Institution for Transforming India (NITI Aayog) at Rashtrapati Bhavan Cultural Centre, New Delhi today.

The theme of this year’s meeting is “Viksit Bharat@2047,” with a central focus on making India a developed nation. The meeting will discuss the approach paper for the Vision Document on Viksit Bharat.

According to a statement by the Centre, the meeting aims to foster participative governance and collaboration between the Centre and state governments, enhancing the quality of life for both rural and urban populations by strengthening the delivery mechanisms of government interventions.

The Prime Minister is the Chairperson of NITI Aayog. Other attendees will include Chief Ministers and Lieutenant Governors of States and Union Territories, Union Ministers as Ex-officio Members and Special Invitees, and the Vice Chairman and Members of NITI Aayog.

Chief Ministers from the Bharatiya Janata Party-ruled states are set to attend the meeting. Bihar CM Nitish Kumar, an NDA ally, has not confirmed his attendance yet.

Several Chief Ministers belonging to the opposition parties have boycotted the meeting. However, West Bengal CM Mamata Banerjee will attend the meeting, sources said.

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Kamala Harris Officially Declares Her Candidature For US Presidential Elections

by Hemanta Pande

Washington, DC, July 27: US Vice President Kamala Harris signed the forms, officially declaring her candidature for the US presidential elections, assuring that her people's-powered campaign will win in November.

Today, I signed the forms officially declaring my candidacy for President of the United States.

I will work hard to earn every vote.

And in November, our people-powered campaign will win. pic.twitter.com/nIZLnt9oN7 — Kamala Harris (@KamalaHarris) July 27, 2024

Harris took to social media X, and emphasised that in November, her people-powered campaign will win.

She further reiterated that she would work hard to earn every vote.

"Today, I signed the forms officially declaring my candidacy for President of the United States. I will work hard to earn every vote. And in November, our people-powered campaign will win," Kamala Harris said in her post.

The upcoming US presidential election on November 5 will see Vice President Kamala Harris as the Democratic nominee, following Biden's endorsement.

Earlier on Friday, former US President Barack Obama publicly endorsed Vice President Kamala Harris for the US presidential post after Joe Biden exited the race recently.

Obama said he and former US First Lady Michelle Obama will do everything they can to make sure Harris wins the presidential election in November.

In a post on X, Barack Obama said, "Earlier this week, Michelle and I called our friend @KamalaHarris. We told her we think she'll make a fantastic President of the United States, and that she has our full support. At this critical moment for our country, we're going to do everything we can to make sure she wins in November. We hope you'll join us."

Earlier on Wednesday, Actor and prominent Democratic fundraiser George Clooney publicly endorsed Harris for the US Presidential post.

While addressing the nation from the Oval Office earlier this week, US President Joe Biden thanked Kamala Harris, calling her a "great vice president."

"She's experienced. She's tough, and she's capable. She's been an incredible partner to me and a leader for our country. Now the choice is up to you, the American people," Biden said.

Moreover, White House Press Secretary, Karine Jean Pierre emphasised that no one is more qualified to step in as the Democratic Party's presidential nominee than US Vice President Kamala Harris. (ANI)

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Horoscope, July 27: Virgo To Have A Good Deal In Business, Scorpio Likely To Buy Land

by Hemanta Pande

Aries

Good conjugal life on the cards. You may buy essential things for home. You may get advice from someone for success in work. You may get an opportunity to become powerful. You may make others happy with your work.

Favourable colour- Red
Favourable number- 9
Remedy - Recite Hanuman Chalisa

Taurus
One may achieve success in business and build a solid career. You may get a desired position in politics. You may be happy on receiving any good news or valuable things. You may make others happy with your work.

Favourable colour- White
Favourable number- 6
Remedy- Donate rice to any Goddess temple

Gemini

Intimacy may increase in your married life. You may progress in construction work and your hope may continue to grow. You may get respect and cooperation in the political field. You are advised to pay attention to the expenses.

Favourable colour- Green
Favourable number- 5
Remedy – Recite Mantra of Maa Tripura Sundari

Cancer

You may join at a new workplace. You may get a position in politics as per the merit. Students may achieve academic success. You may get a good promotion and salary hike based on your performance in the field of work. You may suffer from stomach problems.

Favourable colour- White
Favourable number- 2
Remedy- Start your day by pouring milk on banyan tree

Leo

You may obtain success in the workplace with the help of higher officials. Students may succeed in the competitive examinations. You may consider doing online business. Students may be self-reliant. Government agencies may help in the work.

Favourable colour- Orange
Favourable number- 1
Remedy- Hold Maa Matangi's Yantra Mahakabach

Virgo

You may have a good deal regarding business. There may be an atmosphere of laughter in your family. You may complete the work within the stipulated time. Your own people may be jealous and change the situation. Your tasks may be solved at a slow pace.

Favourable colour- Green
Favourable number- 5
Remedy - Recite Goddess Tripura Sundari mantra

Libra

Your love life may be sweet today. You may consider new proposals in business. You may improve your position in the job by working diligently. You may have to spend too much on essentials. Your popularity and respect may grow.

Favourable colour- White
Favourable number- 6
Remedy- Worship Lord Shiva

Scorpio

You may improve in physical and mental level. You may get desired freedom at the workplace. You may buy a new house or plot of land. You may be interested in expanding your knowledge.

Favourable colour- Red
Favourable number- 9
Remedy – Recite Maa Mangala mantra

Sagittarius

Parents' blessings may help you reach your destination. You may travel to distant places for your job. Financial problems may ease to some extent. You are advised not to trust strangers.

Favourable colour- Yellow
Favourable number- 3
Remedy- Hold Yantrika Mahakabach of Maa Tara

Capricorn

You may get support in the field of work and you may have a happy family life. Good day for employees in the media sector. You may get success in politics. You may buy electronic goods.

Favourable colour- Blue
Favourable number- 8
Remedy – Worship Goddess Dakshinkali

Aquarius

You are advised to soften your temper a little. Your financial condition may be better than before. Students may be mentally happy. Your long-term wishes may be fulfilled. You may spend time being busy.

Favourable colour- Blue
Favourable number- 8
Remedy – Help Needy

Pisces

You may experience physical ailments temporarily. You may be beneficial in the field of transport and industry. You may be successful in movies and music. Exam results in education may be favorable.

Favourable colour- Yellow
Favourable number- 3
Remedy- Worship Lord Brihaspati

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RBI retains repo rate at 6.5%, GDP growth at 7%, inflation at 5.4%

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