RBI forecasts GDP growth of 7.2% for FY25
THE JHARKHAND STORY DESK Mumbai, Oct 9: Following the Monetary Policy Committee (MPC) meeting on Wednesday, the Reserve Bank of India…
File Photo (Image: News on AIR)
THE JHARKHAND STORY DESK
Mumbai, Oct 9: Following the Monetary Policy Committee (MPC) meeting on Wednesday, the Reserve Bank of India (RBI) forecasted India’s real GDP growth for FY25 at 7.2 per cent, while anticipating CPI inflation to ease to 4.5 per cent for the fiscal year.
However, it revised the GDP estimate for the second quarter down to 7 per cent from the previous 7.2 per cent. Additionally, real GDP growth for Q1 of 2024-25 was slower than expected, coming in at 6.7 per cent compared to the earlier projection of 7.1 per cent.
“Real GDP growth for 2024-25 is projected at 7.2 per cent. With Q2 at 7 per cent, Q3 at 7.4 per cent and Q4 7.4 per cent. Real GDP growth for Q1 of next financial year that is 2025-26 is projected at 7.3 per cent and the risks are evenly balanced,” RBI Governor Shaktikanta Das said.
Also Read- The impact of BJP’s Haryana victory on Jharkhand’s 2024 Assembly elections
In the bi-monthly monetary policy announcement, RBI Governor Shaktikanta Das noted that India’s growth story is secure, as the essential drivers—consumption and investment demand—are picking up momentum.
“Prospects of private consumption, the mainstay of aggregate demand, look bright on the back of improved agricultural outlook and rural demand. Sustained buoyancy in services would also support urban demand. Government expenditure of the Centre and states is expected to pick up pace in line with the Budget Estimates,” he stated.
Inflation in the third quarter is projected to rise slightly to 4.8 per cent, with expectations of further moderation in the fourth quarter following the kharif harvest. However, the RBI warns that agricultural output is vulnerable to weather-related shocks, which could affect inflation trends.
