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Image Source : PTI (FILE) GDP
The Reserve Bank of India (RBI) announced on Thursday a projection of 7 per cent GDP growth for the financial year 2024-25, slightly lower than the estimated 7.30 per cent expansion for the current fiscal year.
In the bi-monthly monetary policy announcement, RBI Governor Shaktikanta Das highlighted that rural demand is gaining momentum, urban consumption remains robust, and the investment cycle is picking up pace due to increased capital expenditure. He also noted signs of a revival in private investments.
The real GDP growth for the fiscal year 2024-25 is forecast at 7 percent, with growth rates of 7.20 percent and 6.8 percent expected in the June and September quarters, respectively. Growth in the December and March quarters is projected at 7 percent and 6.90 percent, respectively.
Governor Das remarked that domestic economic activity remains robust, and the growth rate for the current fiscal year, as estimated by the National Statistical Office (NSO), stands at 7.30 percent. He expressed confidence that the momentum witnessed in the fiscal year 2023-24 is expected to continue into the next fiscal year, 2024-25.
“The momentum of 2023-24 is expected to continue in 2024-25 fiscal,” Das said.
(With PTI inputs)
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