RBI's Patel Says Rates Increased to Curb Inflation: Statement

The transcript discusses the global and domestic economic conditions, highlighting sustained but uneven global growth, risks from oil prices, trade tensions, and financial conditions. It notes rising inflation in major economies and unsettled financial markets. Domestically, the Monetary Policy Committee (MPC) observes rising retail inflation and projects future inflation rates. Risks include crude oil volatility, financial turbulence, and fiscal slippage. Economic activity shows signs of recovery, with industrial growth and investment activity remaining firm. The MPC decides to increase the policy rate while maintaining a neutral stance, aiming for a 4% inflation target.

What observations did the Monetary Policy Committee make regarding global growth since its last meeting in June?

How has inflation changed in major advanced and emerging economies according to the text?

What are the projected inflation rates for the second half of the fiscal year?

What risks to the inflation outlook did the Monetary Policy Committee identify?

What factors could boost rural demand according to the committee's assessment?

What is the projected GDP growth for the fiscal year as mentioned in the text?

What commitment did the committee reiterate regarding inflation?