Mumbai: The Reserve Bank of India (RBI) marginally raised the economic growth projection of the country for the current fiscal. RBI revised the growth projection to 6.5%. Earlier it was projected at 6.4%. RBI Governor Shaktikanta Das updated this after the first bi-monthly monetary policy of 2023-24 fiscal.
RBI Governor also informed that the Gross Domestic Product (GDP) growth in the first quarter of 2023-24 is expected at 7.8%. The growth for second, third and fourth quarter of the current fiscal has been projected at 6.2%, 6.1% and 5.9%, respectively.
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Earlier the World Bank has slashed the GDP growth forecast to 6.3% in 2023-24. World Bank in its ‘India Development Update’ has revealed this. Earlier it was projected 6.6%. Asian Development Bank (ADB) also expects India’s economic growth to moderate to 6.4% this fiscal.
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