The Reserve Bank of India has said, the Consumer Price Index inflation for 2024- 25 is projected at 4.5 per cent. RBI Governor Shaktikanta Das while announcing the bi- monthly monetary policy today said, the CPI inflation had peaked at 7.8 per cent in April 2022. He added, that even though Inflation has come down significantly it remains above the 4 per cent target given by the Government.

The Governor added real GDP growth for 2024-25 is projected at 7.0 percent with Quarter 1 at 7.1 percent; Quarter 2 at 6.9 percent; Quarter 3 at 7.0 percent; and Quarter 4 also at 7.0 percent.

The apex bank has kept the repo rate unchanged for the seventh time in a row.

The Governor informed that, India’s Foreign Exchange Reserves reached an all-time high of 645.6 billion dollars as of March 29th this year.