RBI estimates seven% growth in GDP for 2024-25

Mumbai: India’s GDP growth for 2024-25 is estimated at 7 per cent, RBI Governor Shaktikanta Das said on Friday. Inflation for the same period is estimated at 4.5 percent. Releasing the first monetary policy review for the current financial year, Das said, “India is presenting a different picture due to fiscal consolidation and strong GDP growth. Domestic economic activity continues to expand rapidly. For the third consecutive year, GDP The growth is estimated to be seven percent or more.” The RBI Governor said, “Inflation came down to 5.1 percent during January and February this year as compared to 5.7 percent in December last year. The target is to bring it down to four percent.” The central bank aims to limit the inflation rate to 4.9 percent, 3.8 percent, 4.6 percent and 4.5 percent respectively in the first, second, third and fourth quarters of the current financial year. Assuming normal monsoon, the monetary authority has estimated inflation at 5 percent, 4 percent, 4.6 percent and 4.7 percent respectively. Das said that two years ago, in April 2022, inflation had reached 7.8. But now change is happening.