RBI Governor Shaktikanta Das has said that India’s growth story remains intact as its fundamental drivers – consumption and investment demand – are gaining momentum.

In the RBI’s monthly bulletin, Mr. Das said that India is likely to see real GDP growth at 7.2 per cent for the Financial Year 2024-25. He added that prospects of private consumption look bright on the back of improved agricultural outlook and rural demand.

RBI Governor said sustained buoyancy in services would also support urban demand. Government expenditure of the centre and the states is expected to pick up pace in line with the Budget Estimates. According to the RBI document, the CPI inflation for 2024-25 is projected at 4.5 per cent.