The Reserve Bank of India’s (RBI) March Bulletin has expressed confidence in India’s economic growth, projecting the country can sustain an 8% annual GDP growth rate, with potential for even higher. The bulletin points to a conducive macroeconomic environment that could serve as a launching pad for further growth. Despite global economic headwinds, India’s GDP growth has averaged above 8% from 2021 to 2024.
RBI Projects India Can Exceed 8% Growth Rate
The October-December quarter of 2023-24 saw a six-quarter high in real GDP growth, driven by strong domestic momentum, robust indirect taxes, and lower subsidies. The bulletin also cites healthy corporate and bank balance sheets, a modest current account deficit, resilient external buffers, and ongoing fiscal consolidation as key factors supporting this outlook. Additionally, it highlights the role of technology in creating new growth opportunities and emphasizes the need for building world-class infrastructure and a high-quality labor force to capitalize on these favorable conditions.
Read more on: India can sustain 8 pc growth, even higher: RBI bulletin
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