On Thursday, the Reserve Bank of India revised India’s economic growth outlook upwards, expecting a real gross domestic product (GDP) growth rate of 6.5% in FY24, crediting it to a resilient economy in Q4 FY23. This is a 10 basis point increase from the previous Monetary Policy Committee (MPC) announcement in February, pegged FY24 GDP growth at 6.4%.
During the MPC announcement today, RBI governor Shaktikanta Das announced the upward revision in the GDP growth outlook while keeping the repo rate unchanged at 6.5%.
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