Indranil Pan On GDP Growth & RBI's Next Move | Will Monetary Policy Shift?

Indranil Pan, Chief Economist at YES Bank, shares his perspective on the latest GDP numbers and their implications for India’s monetary policy. Pan argues that GDP numbers may not significantly influence the RBI’s immediate policy stance. He highlights the existing global uncertainties, fiscal constraints, and subdued urban consumption as key factors tempering growth momentum. With limited scope for increased public sector investment and signs of private consumption fatigue post-COVID, attention now shifts to rural demand and agricultural performance. Pan underscores the importance of falling food inflation and favourable monsoon forecasts as potential catalysts for rural revival. Watch this video for a nuanced analysis of how India’s economic trajectory could shape the Monetary Policy Committee’s next move