The banking crisis of America and Europe, the Russia-Ukraine war and the jobs of the people going continuously… these are some of the things which are increasing the fear of 'recession' all over the world. Despite this, India's economic growth is expected to remain healthy. The meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) ended on Thursday. According to this, India's GDP growth rate has been estimated to be 6.5 percent in the current financial year.
The latest estimate of the Reserve Bank of India is marginally higher than before. After the MPC meeting held in February, the RBI had projected the country's economic growth rate to be 6.4 percent in the financial year 2023-24.
The growth rate will be 7.8 percent in the first quarter
RBI has projected the real GDP growth rate to be 6.5 percent. At the same time, it is expected to remain at 7.8 percent in the April-June quarter, 6.2 percent in the July-September quarter, 6.1 percent in October-December and 5.9 percent in January-March.
RBI Governor Shaktikanta Das said that the country's real GDP growth at stable prices is estimated to remain at 7 percent in the last financial year (2022-23). This shows the strength of the country's economic conditions.
more than expected by the World Bank
Recently, the World Bank had also expressed its estimate regarding the economic growth of India. The World Bank in its latest report had reduced it for the current financial year. The World Bank had estimated the GDP growth rate at 6.3 percent, while earlier it was predicted to be 6.6 percent.
RBI did not change interest rates
The Reserve Bank of India has not made any change in the policy interest rates this time while releasing the monetary policy. The repo rate has been maintained at the level of 6.5 percent as before. Although the repo rate has increased by 2.5 percent in the last one year.
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