GDP growth: RBI retains real GDP growth forecast for FY22 at 9.5 per cent
- The Reserve Bank of India (RBI) today retained the real GDP growth forecast for the financial year 2021-22 at 9.5 per cent.
- Domestic economic activities have started returning to normal due to the weakening of the second wave of the virus and a phased reopening of the economy.
- In June's monetary policy review, the RBI had lowered the growth forecast for 2021-22 to 9.5 per cent from 10.5 per cent.
- Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said that the important figures (PMI, electricity consumption etc.) show that consumption, investment and external demand are all getting back on track.
- He said that the results of the July round of the Reserve Bank's Consumer Confidence Survey show that sentiments have returned to optimistic territory from historic lows.
