India's GDP growth for 2024-25 is projected at 7 per cent while the forecast for inflation for the year has been retained at 4.5 per cent, RBI Governor Shaktikanta Das said on Friday.
"Growth has continued to sustain its momentum, surpassing all projections.
"India presents a different picture on account of its fiscal consolidation and faster GDP growth. Domestic economic activity continues to expand at an accelerated pace, supported by fixed investment and an improving global environment. The second advance estimates placed the real GDP growth at 7.6 per cent for 2023-24, the third successive year of 7 per cent or higher growth," Das said while unveiling the first monetary policy review for the current financial year in which the key policy rates were left unchanged to keep inflation in check.
The RBI Governor said, "Headline inflation has eased to 5.1 per cent during both January and February, and this has come down to 5.1 per cent in these two months from the earlier peak of 5.7 per cent in December. Looking ahead, robust growth prospects provide the policy space to remain focused on inflation and ensure its descent to the target of 4 per cent,"
The central bank now sees inflation for Q1, Q2, Q3 and Q4 of this fiscal year at 4.9 per cent, 3.8 per cent, 4.6 per cent and 4.5 per cent, respectively. In the February policy, the monetary authority had pegged the inflation readings at 5 per cent, 4 per cent, 4.6 per cent and 4.7 per cent respectively, assuming a normal monsoon.
Das pointed out that two years ago, around this time, when CPI inflation had peaked at 7.8% in April 2022, the elephant in the room was inflation. The elephant has now gone out for a walk, and appears to be returning to the forest.
"The RBI will now have to ensure the 'elephant' remains in the forest," Das quipped.
Tripura BJP to Focus on Organisational Strength Ahead of Upcoming Polls
BJP state president Abhishek Debroy has said that strengthening the party organisation at every level will remain the BJP's top priority as it prepares for the upcoming electoral battles in the state.
Governor Urges Mass Participation in Anti-Drug Drive at Tripura University
Calling drug addiction one of the most serious challenges confronting society, Governor Indra Sena Reddy Nallu urged citizens to join hands in the fight against narcotics, stressing that a drug-free society can only be achieved through collective public participation.
IGP holds review meeting in Gomati, stresses on intelligence-based policing
Tripura Police’s Inspector General of Police (IGP), Law and Order Branch, Manchak Eppar, IPS, visited the Gomati District Police Headquarters to assess the district’s law and order situation, crime prevention strategies and the overall progress of policing activities.
Stolen auto recovered from in Bishramganj, police launch probe
Bishramganj Police have recovered a stolen CNG auto-rickshaw from a rubber plantation near the new petrol pump area along the National Highway late Saturday night.
Auto Drivers Protest Traffic Enforcement in Kamalasagar
Tension briefly flared in the Lembutuli area of Kamalasagar on Sunday after an enforcement drive against the use of black window films (sun-control films) on vehicles led to a confrontation between Bishalgarh Police and auto-rickshaw drivers.
Garbage dumping row triggers protest in Kamalpur
Alleged dumping of garbage into a privately owned pond in Rishipara under Ward No. 2 of the Kamalpur Nagar Panchayat in Dhalai district has sparked outrage among local residents, who have demanded immediate intervention by the administration to address the growing environmental and public health concerns.
Police personnel accused of performing duty under influence of alcohol at Mata Bari; Probe Demanded
Allegations that a police personnel was performing duty under the influence of alcohol at the revered Mata Tripura Sundari Temple in Udaipur, Gomati district, have triggered widespread concern, with the incident drawing significant attention on social media.
Woman dies, minor injured after car crashes into house in South
A 45-year-old woman lost her life and a 10-year-old girl was injured after a WagonR car allegedly went out of control and hit them near Kalachhara Railway Station in South Tripura district on Sunday morning.