FIBAC2024: 'Global agencies' estimates on growth rate are matching our perception', said RBI Governor
FIBAC2024: For the current financial year, the Reserve Bank has projected a growth rate of 7.2%. The IMF has also projected India's growth potential. They have actually revised their growth forecast for India and now put it at 7%.
The headline growth rate was hampered in the first quarter by lower government spending by the central and state governments owing to general elections. Shaktikanta Das, Governor of the Reserve Bank of India, said this on Thursday at the IBA's annual banking conference, FIBAC2024. He stated that the figures show that the fundamentals of growth are gaining strength, and India's economic story remains intact.
RBI Governor Shaktikanta Das said, "For the current financial year, the Reserve Bank has projected a growth rate of 7.2%. The IMF has also projected India's growth potential. They have actually revised their growth forecast for India and now put it at 7%."
The RBI governor said, "Two days ago, the World Bank also raised India's growth forecast for FY 2024-25 to 7%. I think our assumptions and estimates are matching each other when it comes to the estimates made by all national and international agencies and the Reserve Bank."
