Home Business RBI cuts GDP growth projection for FY23 to 6.8%

RBI cuts GDP growth projection for FY23 to 6.8%

RBI reduced the country’s GDP growth forecast for the current financial year to 6.8 per cent.

Mumbai:

The Reserve Bank today cut the country’s gross domestic product (GDP) growth forecast for the current fiscal to 6.8 per cent from its earlier estimate of 7 per cent.

However, despite the downgrade in the economic growth projection, India will remain one of the world’s fastest growing major economies, Reserve Bank of India Governor Shaktikanta Das said while announcing the latest bi-monthly monetary policy.

He said the Indian economy remains resilient and is a bright spot in a gloomy world.

It should be noted that the RBI had exceeded its growth forecast in September as well.

The World Bank on Tuesday revised its GDP growth forecast for India to 6.9 per cent for 2022-23 from the earlier estimate of 6.5 per cent, saying the economy is highly vulnerable to global shocks. Showing flexibility.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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