RBI Governor says FY24 GDP growth could be ‘very close’ to 8%


Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday that India’s growth in the ongoing financial year ending March could be ‘very close’ to 8 per cent.

“I would not hesitate to say that India’s GDP growth in FY24 will exceed 7.6 per cent, it might be closer to 8 per cent,” he said in an interview with the news channel ET Now.

He said India may grow at 7 per cent in FY25, as indicated by the RBI’s Monetary Policy Committee (MPC).

“I am quite optimistic about next year’s GDP growth,” Das added.

The Indian economy grew at its fastest pace in 1.5 years in the third quarter of FY24, led by strong manufacturing and construction activity.

It may be noted that India’s economy grew 8.4 per cent in the October-December quarter, surpassing expectations shared by economists.

Growth in the third quarter was predicted at below 7 per cent.

In addition, the RBI has revised its growth forecast for India in FY24 from 7.3 per cent to 7.6 per cent.

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