RBI की मौद्रिक नीति समिति ने वैश्विक उथल-पुथल के बीच रेपो दर को 5.25% पर बनाए रखा – मुद्रास्फीति और वृद्धि पर प्रभाव

Key Insight

RBI holds repo rate at 5.25% as inflation rises and growth outlook softens

Key Facts

1. The RBI Monetary Policy Committee met on 5 June 2026 and kept the repo rate unchanged at 5.25%.
2. The Standing Deposit Facility (SDF) remained at 5.00% and the Marginal Standing Facility (MSF) and Bank Rate stayed at 5.50%.
3. CPI inflation for FY 2026‑27 was revised upward to 5.1% (core inflation 4.7%).
4. Real GDP growth forecast for FY 2026‑27 was trimmed to 6.6% from 6.9%.
5. International crude oil (Indian basket) averaged US$110 per barrel in Apr‑May 2026, keeping energy‑price pressure high.
6. Key risks highlighted were global supply‑chain disruptions, high energy prices, a sub‑normal south‑west monsoon and El Niño.
7. Quarter‑wise outlook: Q1‑Q4 CPI 4.2%, 5.1%, 5.9%, 5.4%; GDP growth 6.6%, 6.3%, 6.5%, 6.8%.

Background

The RBI’s MPC decides the policy repo rate, which influences borrowing costs, inflation and growth. Keeping the rate unchanged signals a neutral stance while the higher inflation outlook shows price pressures from global oil and climate‑related supply shocks, a core topic in GS‑3 (Monetary Policy, Inflation, Growth).

UPSC Syllabus

• GS3 — Indian Economy - Planning, mobilization of resources, growth, development and employment
• GS2 — Government policies and interventions for development
• Essay — Environment and Sustainability
• GS3 — Effects of liberalization on economy, industrial policy and growth
• Essay — Economy, Development and Inequality

Mains Angle

In GS‑3, candidates can discuss how a neutral repo‑rate stance amid rising inflation and lower growth forecasts tests the RBI’s dual mandate and impacts fiscal and structural reforms.