RBI Chief forecasts 7% growth, easing inflation in India 2024-25

22 Jan 2024 CW Team

RBI Governor Shaktikanta Das stated that the Indian economy is expected to achieve a growth rate of 7 percent in the next fiscal, and he anticipates a further easing of inflation. He acknowledged the government's role in implementing structural reforms in recent years, emphasising their positive impact on the medium and long-term growth prospects of the Indian economy.

Addressing a CII session on 'High growth, low risk: The India story' at the World Economic Forum Annual Meeting, Das remarked that despite a challenging global macroeconomic environment, India reflects a scenario of growth and stability. He highlighted that recent global economic indicators have been reassuring, with a decline in inflation, although growth rates remain subdued.

Das mentioned, "Chances of a soft landing have improved, and markets have responded positively. However, he expressed concerns about geopolitical and climate risks that still persist."

The RBI Governor also projected a real GDP growth of 7.2 percent for India this year.

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