The Reserve Bank has reduced the GDP estimate for the financial year 2024-25 and this is a surprising step. This change regarding the economic growth rate of the country can also become a cause of concern for the government. The Governor of the Reserve Bank said that apart from the central bank, the challenges being seen in geo-politics remain a big issue for all countries. Apart from this, the latest inflation figures and the low GDP rate in the second quarter are also a cause for concern.
RBI reduced GDP estimate for the financial year 2024-25
Among the big decisions announced by the RBI, the announcement of reducing the estimate of the country's economic growth rate (GDP) is important. The RBI has reduced the GDP estimate for the financial year 2024-25 to 6.6 percent, which was earlier at 7.2 percent. Keep in mind that in the October credit policy, the Reserve Bank has estimated the gross domestic product or GDP of the current financial year at 7.2 percent.
How will the GDP be in the remaining quarters of FY 2024-25
If we look at the GDP figures in the remaining quarters of this year, then GDP growth is estimated to be 6.8 percent in the third quarter (October-December) of FY 2024-25. After this, the GDP rate is estimated to be 7.2 percent in the fourth quarter (January-March) of the current financial year.
Growth estimate for the first-second quarter of FY 2025-26
RBI's growth estimate in the first quarter of FY 2025-26 has come at 6.9 percent and along with this, RBI has given an estimate of GDP growth rate to be 7.3 percent in the second quarter of the next financial year in this credit policy.
Reserve Bank kept the repo rate intact at 6.5 percent.
RBI Governor Shaktikanta Das gave information about the decisions taken in the three-day meeting of the Monetary Policy Committee (MPC) which started on Wednesday. The MPC has decided to keep the repo rate at the same level i.e. 6.5 percent. Four out of six members of the MPC voted to keep the policy rate stable while two were in favor of changing it.
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