India’s GDP growth can be more than 7 percent in the financial year 2023. This claim has been made by the RBI governor.
Reserve Bank of India Governor Shaktikanta Das attended the annual convention of business chamber CII in Delhi. There he said a relief thing about the country’s economy. According to the Governor, India’s GDP growth in Fiscal Year (FY) 2023 could exceed the estimated 7 percent.
Das said that going by all the recent trends, it should not be a surprise if India’s GDP growth is more than 7 per cent. For the time being, it is assumed that it will remain at 7 percent. He is saying this on the basis of strength in various macro fundamentals.
The Economic Survey document for 2022-23, released earlier this year, projected the Indian economy to grow at 7 per cent, while realistically projected a baseline GDP growth of 6.5 per cent for the next financial year 2023-24. Has gone.
At the same time, what can be India’s monetary policy and its future steps? Speaking on this, the RBI governor said that I have nothing in my hand. It all depends on many factors at the ground level. The MPC takes decisions based on the situation.
He also said that in the next data of retail inflation in the country, the inflation rate may come down to 4.7 percent. Together with the government, he is taking steps to reduce inflation. In such a situation, the inflation rate in May is also expected to be lower than in April.
Recently many banks were declared bankrupt in America, on which the RBI governor said that he has full faith in the country’s banking system. Our system is stable and robust. The Reserve Bank is taking all necessary steps to ensure that the bank functions well.