RBI: India’s economic growth rate to grow at 7.4 % in the current financial year

According to Reserve Bank of India (RBI’s) annual report, India’s economic growth rate to grow at 7.4% in the current financial year on pick up in industrial activity and good monsoon (previous year 6.7%). The RBI monetary policy will continue to be guided by the objective of achieving the medium-term target for retail inflation of four percent. Agricultural production is likely to remain strong, growth in the industry is strengthening and all other major sectors are reporting robust sales and improvement in profitability. The prevailing negative credit-to-GDP gap indicates that there is sufficient scope for credit absorption and expansion in bank lending on a sustained basis.download our android app

  • According to the Reserve Bank of India (RBI’s) annual report, India’s economic growth rate to grow at 7.4% in the current financial year.
  • The RBI monetary policy will continue to be guided by the objective of achieving the medium-term target for retail inflation of four percent
  • Agricultural production is likely to remain strong, growth in the industry is strengthening and all other major sectors are reporting robust sales and improvement in profitability
  • The prevailing negative credit-to-GDP gap indicates that there is sufficient scope for credit absorption and expansion in bank lending on a sustained basis.download our android app