RBI hikes FY24 growth forecast to 7% from 6.5%, keeps rates on hold

RBI governor Shaktikanta Das surprised markets by hiking growth projections for FY24 to 7%, while the monetary policy committee unanimously decided to keep interest rates on hold. Das expressed confidence in the RBI's measures to spur growth and control inflation. He highlighted the progress in bringing down inflation and projected it to be at 5.4% for FY24. Das also provided GDP growth projections, with real GDP growth for 2023-24 projected at 7%. Despite global headwinds, RBI raised the GDP forecast, demonstrating confidence in domestic growth levers.

from Times of India https://ift.tt/xrZicL7