Even after a slowdown in GDP growth in the quarter ended June, the Reserve Bank of India remains optimistic about India’s growth prospects, Governor Shaktikanta Das said on Wednesday.
“Not withstanding the moderation in growth…the data shows that Indian economy’s fundamental growth drivers are gaining momentum,” Das said at the FIBAC 2024 event.
For the first quarter this fical, India’s GDP growth came in at 6.7% against the RBI’s projection of 7.1%.
For the current financial year, the RBI had projected India’s GDP growth at 7.2%, Das said that the International Monetary Fund and World Bank have also upgraded their forecasts for India’s growth upwards at 7.00%.
“I think the projections made by all the international agencies and as well as the reserve bank are converging,” Das said.
Das said that recent data has given confidence to say that Indian growth story remains intact. He clarified this in regards to the discussions about whether the RBI’s 7.2% projection for growth would actually materialise or not.
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