RBI retains growth forecast at 7.2 per cent for current fiscal

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Image Source : ANI. RBI Governor Shaktikanta Das addressing the media.

Highlights

  • RBI retained its growth projection at 7.2% for current fiscal today
  • RBI Governor Shaktikanta Das unveiled the fourth monetary policy for the current fiscal
  • RBI expects growth in the first quarter of the current fiscal at 16.2 per cent

RBI monetary policy: The Reserve Bank of India (RBI) on Friday (August 5) retained its growth projection at 7.2 per cent for the current fiscal as it sees improvement in urban demand and gradual recovery in rural India aided by normal monsoon.

Unveiling the fourth monetary policy for the current fiscal, RBI Governor Shaktikanta Das said the central bank remains committed to price stability to put the country on the sustained path of growth.

The RBI expects growth in the first quarter of the current fiscal at 16.2 per cent, which will taper to 4 per cent by the fourth quarter.

Das, however, cautioned that there are risks from the ongoing Russia-Ukraine war.

The central bank in April slashed the GDP growth projection for 2022-23 to 7.2 per cent from its earlier forecast of 7.8 per cent.

(With agencies inputs) 

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