The GDP growth target for Q1 FY25 was adjusted to 7.1% from the previous 7.2%, while for Q2 FY25, it was revised to 6.9%, up from the previous forecast of 6.8%. The growth rate for Q3 FY24 remains unchanged at 7%. For Q4FY25, the RBI revised the growth rate to 7% from the previous 6.9%.
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.
RBI MPC Meeting: The Reserve Bank of India s rate-setting panel, known as the Monetary Policy Committee (MPC), is expected to keep the repo rate unchanged at 6.5 percent. Economists predict that there may be a change in stance from withdrawal of accommodation to neutral . According to an ET Poll of 12 economists, significant rate adjustments are not expected. However, some economists suggest that a fiscally prudent budget and global monetary easing could influence the central bank to adjust its stance on liquidity.