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Which statements are correct about RBI's 1st bi-monthly monetary policy 2022-23? 1. GDP growth projection = 7.4% for FY23 2. CPI inflation forecast raised to 5.7% for FY23 3. Projection assumes crude oil at $100/barrel and Russia-Ukraine supply chain disruptions

1. Only 1 & 2 are correct
2. only 2 is correct
3. Only 2 & 3 are correct
4. Only 1 & 3 is correct

Correct answer: Only 2 & 3 are correct

Solution

In RBI's April 2022 (1st bi-monthly 2022-23) monetary policy: GDP growth projected at 7.2% (not 7.4%) → Statement 1 incorrect. CPI inflation forecast raised from 4.5% to 5.7% → Statement 2 correct. Crude oil at $100/barrel assumed, Russia-Ukraine disruptions mentioned → Statement 3 correct.

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