RBI Governor Shakti kanta Das projected GDP growth for 2023 -24 at 6.5%.

This GDP growth for 2023 -24 at 6.5% which is slightly higher than previous projection of 6.4% he said that Q1 GDP is expected to grow at 7.8% Q2 at 6.2% Q3 at 6% and Q4 for at 5.8%.

The economic survey was released a week prior and also packed real GDP growth at 6.5%.

He also said that GDP is expected to have recorded a growth of 7% in 2023 ,hence economic activity remains resilient.

The Governor said that global economy is facing financial challenges in the wake at recent Bank failures he also stated that the RBI has adopted a prudent approach towards regulations.

The RBI decided to keep the repo rate and unchanged at 6.5% which was in contrast to what many economist had predicted.

The central bank also projected inflation FY24 to drop 5.2% from 5.3%.

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