The pivot of monetary policy has shifted squarely to growth

It is only next year when RBI expects growth to increase to 6.8 per cent that repo rate will be raised

In the midst of a rapidly changing COVID-19 backdrop in India, the monetary policy committee (MPC) kept policy rates unchanged and maintained an accommodative stance. MPC members reiterated their resolve to continue with an accommodative stance as long as necessary, to sustain growth on a durable basis and mitigate the impact of COVID-19 on the economy. With this, MPC members removed time based guidance given in the earlier policies.

The pivot of monetary policy has shifted squarely to growth. But economic recovery is contingent on vaccination, spread of infection and normalisation of economic activity. Clarity on these will emerge over