RBI Raises GDP Growth Forecast to 7%: Economic Affairs Secretary
Dec 08, 2023 14:54
India's Economic Affairs Secretary Ajay Seth says the RBI's upward revision of GDP growth forecast to 7% is well-placed, citing strong high-frequency indicators.
New Delhi, Dec 8 (PTI) The upward revision in GDP growth forecast by the RBI is "very well placed" with high frequency indicators in October and November showing good momentum, Economic Affairs Secretary Ajay Seth said on Friday.
"It is quite obvious that growth that India has achieved in the first half and then in two months (October, November), where the high frequency indicators are showing a good momentum... this upward revision is very well placed," he told reporters.
The RBI in its bi-monthly policy review revised upwards growth projection for current fiscal to 7 per cent, from 6.5 per cent earlier.
The Indian economy grew 7.8 per cent and 7.6 per cent in the June and September quarters of this financial year, taking the first half growth to 7.7 per cent.
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