RBI Keeps FY25 GDP Growth Forecast Unchanged at 7.2%

8 Aug 2024 , 10:50 AM

The Reserve Bank of India today kept the GDP growth forecast for 2024-25 (Apr-Mar) unchanged at 7.2%. India’s GDP grew 8.2% last year.

Announcing the outcome of the Monetary Policy Committee meeting, RBI Governor Shaktikanta Das said the risks to its growth forecasts are evenly balanced.

With GDP growth holding up well, the committee decided to stay focussed on inflation, Das said.

The RBI has projected the quarterly GDP growth at 7.1% in Apr-Jun, 7.2% in Jul-Sep, 7.3% in Oct-Dec and 7.2% in Jan-Mar.

Barring the GDP growth forecast for Apr-Jun, the projections are unchanged from June. The GDP growth forecast for Apr-Jun is lower than 7.3% projected earlier.

The lower GDP growth forecast for Apr-Jun is because of lower-than-expected high frequency data on corporate profitability, government spending and in growth in core industries, Das said.

The RBI has forecast GDP growth in the first quarter of 2025-26 at 7.2%.