MPC Preview - Expect A Status Quo From RBI’s June Policy; Eyes On GDP Growth Forecast: CARE Ratings

The Reserve Bank of India (RBI) logo is displayed outside the central bank in Mumbai, India. (Photographer: Kanishka Sonthali/Bloomberg).

MPC Preview - Expect A Status Quo From RBI’s June Policy; Eyes On GDP Growth Forecast: CARE Ratings

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CARE Ratings Research Report

The Monetary Policy committee is scheduled to meet during June 02 to 04 for the second time this fiscal.

This is at the juncture where the country is witnessing a drop in daily Covid-19 caseloads but had seen a peak of close to four lakh daily cases only a couple of weeks ago.

However, the daily mortality continues to remain elevated while the slow pace of vaccination across the country further adds uncertainty to the prospects of economic recovery.

The near-term outlook for the Indian economy remains clouded with extreme uncertainty and downside risks.

Since the previous monetary policy review in April 2021, most of the states in the country announced stringent lockdowns, reflected by a jump in Oxford’s Stringency Index for India from 58 at the start of April to 74 during the month of May.

Click on the attachment to read the full report:

CARE Ratings Expectation from RBI Policy June 2021.pdf

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