India's GDP Projected To Grow 6.5% In FY24, Domestic Economy Resilient: RBI
News 18India’s GDP growth for 2023-24 is projected at 6.5 per cent amid softer global commodity and food prices, and good rabi crop prospects, among others, according to the RBI’s annual report 2022-23 released on Tuesday. The cumulative increase in policy repo rate by 250 bps last year would steer the disinflationary process, along with supply side measures to address transient demand-supply mismatch due to food and energy shocks,” the RBI said in the report. “According to the 101st round of the quarterly industrial outlook survey, manufacturing firms are exuding positive sentiments on production, order books, employment conditions and capacity utilisation for Q2 and Q3 2023-24,” the central bank said. Apart from this, port cargo traffic and railway freight traffic movements also point to industrial activity picking up amidst gradual easing of input cost pressures, it added.