Multilateral Banks Debunk Govt Claims On India's Growth Rate
Even with the fifth largest GDP in the world, India’s per capita income was lower than that of Angola and Ivory Coast.
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Even with the fifth largest GDP in the world, India’s per capita income was lower than that of Angola and Ivory Coast.
Asian Development Bank also expects India's economic growth to moderate to 6.4 per cent due to tight monetary conditions and elevated oil prices, as compared to 6.8 per cent expansion for the financial year ended March 2023.
The Reserve Bank of India on Thursday hit the pause button and decided to keep the key benchmark policy rate at 6.5 per cent even as inflation is trending above its tolerance level.
The Reserve Bank on Thursday marginally revised upwards the economic growth projection for the current fiscal to 6.5 per cent, from its earlier estimate of 6.4 per cent. Unveiling the first bi-monthly monetary policy of 2023-24 fiscal, RBI Governor Shaktikanta Das said the GDP growth in the first quarter of 2023-24 is expected at 7.8 per cent.
The RBI also hit the pause button and decided to keep the key benchmark policy rate at 6.5% even as inflation is trending above its tolerance level.