RBI forecasts real GDP growth for current 2024-25 fiscal year at 7%

RBI said, “The real GDP growth for 2024-25 is projected at 7.0 per cent with risks evenly balanced.”

The Reserve Bank of India (RBI) said in its annual report that the Indian economy is likely to grow at 7 per cent in the current fiscal year starting April. The economy has expanded at a robust pace in 2023-24 (April 2023 to March 2024 financial year), with real GDP growth accelerating to 7.6 per cent from 7.0 per cent in the previous year, it said. This will be the third successive year of 7 per cent or above growth, it added.

A police officer walks past the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India. (Reuters)

"The real GDP growth for 2024-25 is projected at 7.0 per cent with risks evenly balanced," RBI said, asserting that the economy showed resilience in FY24 despite persistent headwinds.