The Reserve Bank of India (RBI) on Friday maintained its real GDP growth forecast for the financial year 2021-22 at 9.5 per cent. Domestic economic activity has returned to normal due to the weakening of the second wave of the virus and the resumption of the economy. In June’s monetary policy review, the RBI slashed its growth forecast for 2021-22 from 10.5% to 9.5%.
Investment and external demand are all back on track
RBI Governor Shaktikanta Das, who has published monetary policy once in two months, shows that key figures (both PMI and electricity consumption), consumption (both private and government), investment and external demand are returning. He said the July round results of the Reserve Bank’s Consumer Confidence Survey show that sentiments have returned to optimistic territory from the historic lows.
Investment demand is still weak
Moreover, preliminary results from listed companies show that corporations are able to maintain healthy growth in sales, salary growth and profit led by information technology companies. Das said it also supports total consuming income. He said that although demand for investment was still weak, the long-awaited revival was accelerated by improvements in capacity utilization, increased steel consumption, higher imports of capital goods, favorable financing and economic conditions and economic packages announced by the central government. Visit
The real GDP growth rate was maintained at 9.5 per cent
Das said, “Taking all these factors into account, the real GDP growth rate is maintained at 9.5 per cent in 2021-22.” Das said 6.3 per cent in the quarter and 6.1 per cent in the January-March quarter. We’re in a position.
