Key Points
Reserve Bank of India (RBI) Governor Shaktikanta Das, during the Monetary Policy Committee meeting announcements on Friday, said that GDP growth for 2024-25 is projected to be 7 per cent..
The prospect of investment activity remained bright owing to an upturn in private capex cycle becoming steadily broadbased, persisting and robust government capital expenditure, healthy balance sheets of banks and corporates, rising capacity utilisation and strengthening business optimism has reflected in our surveys, said Governor Das...
Das GDP projection comes after the manufacturing PMI touched a 16-year high in March at 59.1 and services PMI was one of the strongest in 13-and-half years at 61.2.Domestic economic activity continues to expand at an accelerated pace, supported by fixed investment and improving global environment, he said.. Rural demand is catching up, and consumption is expected to support economic growth in 2024-25..
There is resilience in cement production, and steel consumption and production have seen a strong growth.Outlook for agriculture and rural activity appears bright, with good rabi wheat crop and improved prospects of kharif crops, due to expected normal south-west monsoon, the governor added...
Governor Das stated that while improvingglobal growth, trade prospects, India's rising integration in global supply chains, are expected to propel external demand for goods and services, the headwinds from protracted geopolitical tensions and increasing disruptions in trade routes could pose risks to the outlook..
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