7.7% H1 growth leaves ‘sceptics gasping’: RBI article
The article on the state of the economy published in the Reserve Bank’s December Bulletin on Wednesday also said CPI-based retail inflation is expected to ease to 4.6 pc in the first three quarters of 2024-25 from 5.6 pc in November.
MUMBAI: GDP growth of 7.7 per cent in the H1 of this fiscal has “left sceptics gasping and woefully behind the curve”, an RBI article said on Wednesday.
It also stressed the build-up in the growth momentum is likely to be sustained.
The article on the state of the economy published in the Reserve Bank’s December Bulletin on Wednesday also said CPI-based retail inflation is expected to ease to 4.6 pc in the first three quarters of 2024-25 from 5.6 pc in November.
It said the pace of global growth may slow further in 2024 while disinflation at varying pace in different geographies may pave the way for interest rate reductions.
In India, the broad-based strengthening of economic activity that is underway will likely be sustained by easing input costs and corporate profitability, said the article authored by a team led by RBI Deputy Governor Michael Debabrata Patra.
