RBI Monetary Policy : Good news for the equity markets even in the context of unabated selling by FIIs Says Dr. VK Vijayakumar, Geojit Financial Services
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Below are View On RBI announcement By Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The highlight of the monetary policy announcement which came on expected lines is the better than expected increase in GDP growth rate for FY24 to 6.4% with sharp upward revision in FY Q1 and G2 growth rates to 7.8%and 6.2% respectively. This is a reflection of the central bank’s confidence in the economy maintaining the present growth momentum. The Governor stressed the fact that the credit growth in the economy is 16.7% YoY in January. Optimism regarding FY 24 GDP growth and containing the CPI inflation at 5.3 % is good news for the equity markets even in the context of unabated selling by FIIs.
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