The Indian economy is expected to grow 7 per cent in fiscal 2024-25, said the Reserve Bank of India’s governor Shaktikanta Das at the World Economic Forum (WEF) Annual Meeting 2024 in Davos.
Speaking at a CII session on ‘High growth, low risk: The India story’ here during the World Economic Forum Annual Meeting, Das said, with strong domestic demand, India remains fastest growing major economy. “Real GDP growth is expected at 7.2 per cent this fiscal,” he added.
Das said, amid a challenging global macroeconomic environment, India presents a picture of growth and stability.
In addition to this the RBI guv said that headline inflation has substantially eased from the highs of summer 2022 and this shows monetary policy action is working.
“Structural reforms undertaken by government in recent years boosted medium, long term growth prospects of Indian economy,” he added.
Earlier the RBI chief had said, inflation in India is moderating and steadily approaching the central bank’s 4 per cent target while growth prospects remain robust.
“Inflation has come under control and is within the band we have, which is 2 per cent to 6 per cent. Target is 4 per cent,” Das had said in a fireside chat at Davos organised by Invest India, the country’s national investment promotion and facilitation agency.
Annual retail inflation rose the fastest in four months in December but core inflation, which strips out volatile food and energy prices, dropped to a four-year low of 3.8 per cent to 3.89 per cent from 4.05 per cent to 4.2 per cent in November.
