Indian economy likely to grow at 7% in FY 2024, inflation will be low: RBI Governor
New Delhi: reserve Bank of India ,reserve Bank of India) Governor Shaktikanta Das Appreciated the structural reforms undertaken by the Government in recent years and said that indian economy It is likely to register a growth of 7 percent in the next financial year.
The RBI Governor said that structural reforms have boosted the medium and long-term growth prospects of the Indian economy.
Shaktikanta Das stressed that amid the adverse global macroeconomic environment, India presents a picture of growth and stability, in his statement the Governor assured that inflation is likely to decline further.
Speaking at the CII session on ‘High Growth, Low Risk: The India Story’ in davos during World Economic Forum ,World Economic Forum) At the annual meeting, Das said recent information on the global economic front has been reassuring with a decline in inflation even as growth remains low.
“The prospects for a soft landing have improved and markets have responded positively. However, geopolitical risks and climate risks remain a matter of concern,” he said.
The RBI Governor said that real GDP growth in India is expected to be 7.2 percent this year.
Central bank Last month, the GDP growth estimate for FY 2024 was raised to 7% while keeping the repo rate unchanged.
Earlier, speaking at a session of the World Economic Forum (WEF) in Davos, Das had said there is considerable international confidence in India and the macroeconomic and financial sector stability provided by the country. “…I think we really need to look at the business opportunities in India.
Because this is the right time to build in the Indian ecosystem,” he said and emphasized that the country’s growth prospects are very good due to the structural reforms that have taken place in recent years. Despite various shocks and crises, he said that The Indian banking sector has witnessed remarkable improvements.
“The Indian banking sector is probably at one of its best in recent years…the financial sector is very stable…the external sector is also stable despite global growth slowing…India’s services sector is growing,” he Said.
(With PTI inputs)
The RBI Governor said that structural reforms have boosted the medium and long-term growth prospects of the Indian economy.
Shaktikanta Das stressed that amid the adverse global macroeconomic environment, India presents a picture of growth and stability, in his statement the Governor assured that inflation is likely to decline further.
Speaking at the CII session on ‘High Growth, Low Risk: The India Story’ in davos during World Economic Forum ,World Economic Forum) At the annual meeting, Das said recent information on the global economic front has been reassuring with a decline in inflation even as growth remains low.
“The prospects for a soft landing have improved and markets have responded positively. However, geopolitical risks and climate risks remain a matter of concern,” he said.
The RBI Governor said that real GDP growth in India is expected to be 7.2 percent this year.
Central bank Last month, the GDP growth estimate for FY 2024 was raised to 7% while keeping the repo rate unchanged.
Earlier, speaking at a session of the World Economic Forum (WEF) in Davos, Das had said there is considerable international confidence in India and the macroeconomic and financial sector stability provided by the country. “…I think we really need to look at the business opportunities in India.
Because this is the right time to build in the Indian ecosystem,” he said and emphasized that the country’s growth prospects are very good due to the structural reforms that have taken place in recent years. Despite various shocks and crises, he said that The Indian banking sector has witnessed remarkable improvements.
“The Indian banking sector is probably at one of its best in recent years…the financial sector is very stable…the external sector is also stable despite global growth slowing…India’s services sector is growing,” he Said.
(With PTI inputs)
