New Delhi, June 3 -- Now that the National Statistical Office (NSO) has given its verdict on the state of India's economy in 2024-25 and its last quarter, all eyes are turned to the Reserve Bank of India (RBI).

member rate-setting panel, the Monetary Policy Committee (MPC), which begins its three-day meet on Wednesday.

With the key determinant for rate action, retail inflation, having declined for the sixth consecutive month-it was below 3.2% in April by the Consumer Price Index-and GDP growth at 6.5% last fiscal year, the MPC has a fine line to tread.

Under RBI's inflation targeting framework, it must keep retail inflation within a band of 2% to 6%, with an eye kept on growth.

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