shot-button
Subscription Subscription
Home > News > India News > Article > RBI projects economic growth at 64 per cent for next fiscal

RBI projects economic growth at 6.4 per cent for next fiscal

Updated on: 08 February,2023 10:59 AM IST  |  Mumbai
PTI |

Announcing the bi-monthly monetary policy, Reserve Bank of India Governor Shaktikanta Das said the RBI's internal survey says manufacturing, services and infrastructure sector firms are optimistic of the business outlook

RBI projects economic growth at 6.4 per cent for next fiscal

Representative Image. Pic/iStock

The RBI on Tuesday projected India's economic growth to slow down to 6.4 per cent in FY24 from 7 per cent in the current fiscal, citing risks from geo-political tension and tightening global financial condition.


Announcing the bi-monthly monetary policy, Reserve Bank of India Governor Shaktikanta Das said the RBI's internal survey says manufacturing, services and infrastructure sector firms are optimistic of the business outlook.


However, protracted geo-political tension, tightening global financial conditions and external demands continue as downside risks to the domestic outlook, he noted.


Also Read: RBI hikes repo rate by 25 basis points to 6.5 per cent

"The real GDP growth for 2023-24 is projected at 6.4 per cent," Das said.

In 2023-24, the growth in the June and September quarter is projected at 7.8 per cent and 6.2 per cent, respectively. In the December and March quarter, the GDP growth is estimated at 6 per cent and 5.8 per cent, respectively.

"Monetary policy will continue to be agile and alert to effectively address challenges to the economy," Das said.

Several economists and rating agencies have projected India's real GDP growth to slow to between 6-6.5 per cent in the next fiscal.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK