Mumbai, Dec 5 The following are the highlights of the fifth bi-monthly monetary statement for 2018-19:
* RBI keeps key lending rate (repo) unchanged at 6.5 pc * Reverse repo rate stands at 6.25 pc, bank rate at 6.75 pc, CRR at 4 pc * Projects retail inflation to be between 2.7-3.2 pc in October-March * Retains GDP growth estimate at 7.4 pc for current fiscal * Projects April-September growth for 2019-20 at 7.5 pc with downside risks * Says time apposite to strengthen domestic macroeconomic fundamentals * Fiscal discipline critical to create space and crowd-in private investment * Lower rabi sowing may adversely affect agriculture, rural demand * Financial market volatility, slowing global demand and rising trade tensions pose negative risk to exports * Decline in crude oil prices is expected to boost growth prospects * Credit offtake strengthened even as global financial conditions tightened * Next meeting of the MPC on February 5-7. (Agencies)
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