RBI lowers GDP growth projection to 6.8% for FY23

Mumbai: The Reserve Bank on Wednesday marginally lowered the country's GDP growth projection for the current fiscal at 6.8 percent from its earlier estimate of 7 percent. However, "despite the downward revision in the economic growth projection, India will remain among the fastest growing major economies in the world," said RBI Governor Shaktikanta Das while announcing the latest bi-monthly monetary policy.

He said the Indian economy remains resilient and is a bright spot in a gloomy world. It is to be noted that the RBI had also pared its growth projection in September as well.

The World Bank on December 6 revised upwards its GDP growth forecast for India to 6.9 percent for 2022-23 from its earlier estimate of 6.5 percent, saying the economy was showing higher resilience to global shocks.

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