Team Blitz India
NEW DELHI: The RBI on April 5 retained the GDP growth projection at 7 per cent for 2024-25 fiscal on the back of expectations of a normal monsoon, moderating inflationary pressures, and sustained momentum in manufacturing and services sector.
The headwinds from protracted geopolitical tensions and increasing disruptions in trade routes, however, pose risks to the outlook, Reserve Bank Governor Shaktikanta Das said while unveiling the first bi-monthly monetary policy of the current fiscal.
Going forward, he said the outlook for agriculture and rural activity appears bright, with good rabi wheat crop and improved prospects of kharif crops, due to expected normal south-west monsoon.
“Strengthening of rural demand, improving employment conditions and informal sector activity, moderating inflationary pressures and sustained momentum in manufacturing and services sector should boost private consumption,” Das said.
