Reserve Bank of India (RBI) released its annual report on May 30.
As per this report, the real GDP growth rate for 2024-25 is projected at 7.0%.
The Indian economy has expanded at a robust pace in 2023-24 with a real GDP growth to 7.6 per cent from 7.0 per cent.
This will be the third successive year of 7 per cent or above growth.
India’s GDP growth is robust and is supported by healthy balance sheets of banks and corporates.
The government is focusing on capital expenditure and prudent monetary, regulatory and fiscal policies.
Geopolitical tensions, geoeconomic fragmentation, global financial market volatility, international commodity price movements and erratic weather are the main risks to the growth outlook.
The RBI report also highlighted that the Indian economy would have to tackle challenges posed by the rapid adoption of AI/ML.
This report covered the working and functions of the Reserve Bank of India for the April 2023-March 2024 period.
