RBI retains FY24 GDP forecast at 6.5 pc, raises inflation projection

Mumbai, August 10, 2023.

The RBI on Thursday retained the GDP growth projection for current fiscal year at 6.5 per cent and raised the inflation projection marginally to 5.4 per cent due to spike in vegetable prices, including tomatoes.

Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said domestic economic activity is maintaining resilience.

He also said the recovery in kharif sowing and rural incomes, the buoyancy in services and consumer optimism should support household consumption.