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RBI restates 7% GDP growth forecast for FY25, third successive year of 7%
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has kept its growth projection for India’s Gross Domestic Product (GDP) unchanged at 7% for the 2024-25 fiscal year, Governor Shaktikanta Das announced on Friday, April 5
Dr.G.R.Balakrishnan Apr 08 2024 Exim News

RBI restates 7% GDP growth forecast for FY25, third successive year of 7%

This is the third successive year of 7% or higher growth,” Das said. The governor stressed that the growth and inflation dynamics have played out favourably since the last policy. He said robust growth prospects provide policy space to remain focused on inflation.

The Governor however highlighted that while inflation is moving closer to target, the last mile of inflation is turning out to be challenging. The RBI MPC has retained its CPI (consumer price index) inflation forecast for FY25 at 4.5%

The RBI also left its repo rate unchanged at 6.5%, in line with market watchers and economists’ expectations.

This was the seventh straight instance of the policy rates being left unchanged by India’s central bank