There is a need to re-accelerate the economic growth... Indian economy is likely to contract to 7.5 per cent in 2020-21. But it will grow in double-digit in the next fiscal year, he said

In February last year, RBI had announced a revised Liquidity Management Framework (LMF) that was simplified and \"clearly communicated\" the objectives and toolkit for liquidity management

The RBI paper, authored by Harendra Kumar Behera and Michael Debabrata Patra, finds that there is a steady decline in trend inflation to 4.1- 4.3 per cent since 2014

A combination of cost-push factors including supply side disruptions, sharp increase in international commodity prices, high retail margins and elevated taxes on petroleum products have kept inflation above the upper tolerance band, says Shaktikanta Das

Experts believe retail inflation is likely to average around 6.3 per cent this fiscal and mostly will remain sticky going forward owing to pick-up in demand across sectors

The CPI inflation continues to remain above 6 per cent throughout this year -- except in March -- higher than the Reserve Bank of India's comfort zone of 4-6 per cent

Sensex rose 212 points to 45,291 against previous close of 45,079. Nifty gained 64 points to 13,322 against previous close of 13,258

Earlier in the day, RBI Governor Shaktikanta Das said the inflation trajectory has not panned as per the central bank's expectations and upped its target for the price rise situation in the next one year

The RBI continues to be in wait and watch mode as there is very limited scope on what monetary policy can achieve given GDP in contraction mode and inflation risk on upside, says economists at State Bank of India 

During the session, Sensex touched a lifetime high of 45,148 and Nifty hit an all-time high of 13,280. During the week, Sensex and Nifty have risen 929 points or 2.1% and 289 points or 2.23%, respectively.

The domestic unit opened at 73.81 per US dollar at the interbank forex market and gained 16 paise to 73.77 against the greenback over its previous close

Das says COVID-19 broke out even as the world was gripped by a synchronised slowdown in activity, which made the agony even more excruciating; adds RBI's role as debt manager and banker to government was tested to the hilt in 2020

The RBI's projection of 5.4-4.5 per cent CPI for the second half (Oct to March) of 2020-21 announced in October policy is also not holding up

Speaking at the Monetary Policy Committee (MPC) announcement, Das said that the CPI inflation is likely to be 6.8% for Q3 adding that it is pegged to come down to 5.8% for Q4

RBI Governor Shaktikanta Das says MPC voted unanimously to keep policy repo rate unchanged at 4 per cent; changes its FY21 real GDP target to 7.5 per cent as compared to 9.5% contraction projected earlier

India Stock Market Highlights Today: During the session, Sensex touched a lifetime high of 45,148 and Nifty hit an all-time high of 13,280

Stocks to watch today on December 4: NCC, Union Bank, Granules India, GHCL, HDFC Life, NMDC among others are the top stocks to watch out for in Friday's trading session

Looking ahead, services firms were confident of a rise in business activity in the coming 12 months. The overall degree of optimism improved to a nine-month high

India Stock Market Highlights Today: HDFC twins, Reliance Industries were among the top losers and Tata Steel, Titan and Asian Paints were among the top gainers

Apex bank could take steps to fasten India's economic recovery after the coronavirus, but high inflation will most likely force it to keep the rates unchanged