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Highlights from Raghuram Rajan’s Speech on Monetary Policy Review

Highlights from Raghuram
Rajan’s Speech on Monetary
Policy Review


  • Keeps repo rate unchanged at 6-75 per cent.
  • Keeps CRR unchanged at 4 per cent.
  • Expects inflation to be around 5 per cent by March 2017.
  • Expects GDP growth of 7-6 per cent for FY17, 7-4 per cent with downward bias for FY16.
  • Indian economy lost momentum in
  • Have not factored in 7th pay panel recommendation in inflation target.
  • Continue to remain accommoda­tive even if rates remain unchange.
  • Working with banks and govern­ment to ensure identification of stressed assets.
  • Bearish commodity price dynamics are also likely to impact investor sentiment.
  • Marginal standing facility rate and Bank Rate at 7-75 per cent.
  • RBI to create a special ecosystem for startup funding.
  • Prospects for the rabi harvest are improving slowly.
  • First bi-monthly monetary policy for 2016-17 on April 5, 2016.
  • India has ranked 89th globally in Global Talent Competitiveness Index (GTCI) 2015-16 in list of 106 assessed countries in terms of talent competitiveness of its human capital.
  • This GTCI list was compiled by INSEAD business school in partnership with Adecco and Human Capital Leadership Institute of Singapore (HCLI). This index measures a nation’s




’ competitiveness based on the quality of talent it can produce, attract and retain.

Report Highlights

  • In this edition of list top 20 . scoring countries are all high-

income countries. The top rank­ings were dominated by Euro­pean countries.

  • Top 10 in GTCI list: Switzerland (1st), Singapore (2nd), Luxem­bourg (3rd), United States (4th), Denmark (5th), Sweden (6th), United Kingdom (7th), Norway (8th), Canada (9th) and Finland (10th).
  • Bottom 5 countries: Mali (105th), Tanzania (106th), Ethiopia (107th), Burkina Faso (108th) and Madagascar (109th).

India Slips to 89th Rank on

Global Talent Competitiveness

  • Reflecting an acute shortage of skilled labour force and difficult business conditions, India has slipped 11 places to rank 89th on a global index of talent com­petitiveness as compared to 78th position in 2014-15.
  • India’s ranking is worst among the five BRICS countries, with China leading the pack with a global rank of 48.

International Monetary Fund


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