{"id":106670,"date":"2023-08-10T11:56:54","date_gmt":"2023-08-10T06:26:54","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106670"},"modified":"2023-08-10T11:56:55","modified_gmt":"2023-08-10T06:26:55","slug":"rbi-ups-its-inflation-forecast-while-keeping-its-fy24-gdp-forecast-at-6-5-per-cent","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/rbi-ups-its-inflation-forecast-while-keeping-its-fy24-gdp-forecast-at-6-5-per-cent\/","title":{"rendered":"RBI ups its inflation forecast while keeping its FY24 GDP forecast at 6.5 per cent."},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3818244570\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The RBI on Thursday retained the GDP growth projection for the current fiscal year at 6.5 per cent and raised the inflation projection marginally to 5.4 per cent due to a spike in vegetable prices, including tomatoes.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-707511815\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said domestic economic activity is maintaining resilience.<\/p><p>He also said the recovery in kharif sowing and rural incomes, the buoyancy in services and consumer optimism should support household consumption.<\/p><p>&#8220;Headwinds from weak global demand, volatility in global financial markets, geopolitical tensions and geoeconomic fragmentation, however, pose risks to the outlook,&#8221; Das said.<\/p><div class=\"trade-content_5\" id=\"trade-1692035958\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Taking all these factors into consideration, real GDP growth for 2023-24 is projected at 6.5 per cent with Q1 at 8 per cent; Q2 at 6.5 per cent; Q3 at 6.0 per cent; and Q4 at 5.7 per cent.<\/p><p>Real GDP growth for Q1 of 2024-25 is projected at 6.6 per cent.<\/p><p>On inflation, the governor said the spike in vegetable prices, led by tomatoes, would exert sizeable upside pressures on the near-term headline inflation trajectory.<\/p><p>&#8220;This jump is, however, likely to correct with fresh market arrivals,&#8221; he said, and added there has been significant improvement in the progress of the monsoon and kharif sowing in July.<\/p><p>However, Das added the impact of the uneven rainfall distribution warrants careful monitoring.<\/p><p>Consumer Price Index (CPI) based retail inflation is projected at 5.4 per cent for 2023-24, the governor said.<\/p><div class=\"trade-content-10\" id=\"trade-1335270059\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The CPI for Q2 has been projected at 6.2 per cent, Q3 at 5.7 per cent and Q4 at 5.2 per cent, with risks evenly balanced.<\/p><p>The retail inflation for Q1 of 2024-25 is projected at 5.2 per cent.<\/p><p>Headline CPI inflation picked up from 4.3 per cent in May to 4.8 per cent in June, driven largely by food group dynamics on the back of higher prices of vegetables, eggs, meat, fish, cereals, pulses and spices.<\/p><div class=\"trade-after-content\" id=\"trade-1838454921\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The RBI on Thursday retained the GDP growth projection for the current fiscal year at 6.5 per cent and raised the inflation projection marginally to 5.4 per cent due to a spike in vegetable prices, including tomatoes. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said domestic economic activity is maintaining resilience. He [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":47406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-106670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBI ups its inflation forecast while keeping its FY24 GDP forecast at 6.5 per cent. - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The RBI on Thursday retained the GDP growth projection for the current fiscal year at 6.5 per cent and raised the inflation projection marginally to 5.4 per cent due to a spike in vegetable prices, including tomatoes.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/rbi-ups-its-inflation-forecast-while-keeping-its-fy24-gdp-forecast-at-6-5-per-cent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI ups its inflation forecast while keeping its FY24 GDP forecast at 6.5 per cent.\" \/>\n<meta property=\"og:description\" content=\"The RBI on Thursday retained the GDP growth projection for the current fiscal year at 6.5 per cent and raised the inflation projection marginally to 5.4 per cent due to a spike in vegetable prices, including tomatoes.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/rbi-ups-its-inflation-forecast-while-keeping-its-fy24-gdp-forecast-at-6-5-per-cent\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-10T06:26:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-10T06:26:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/06\/RBI-21-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/rbi-ups-its-inflation-forecast-while-keeping-its-fy24-gdp-forecast-at-6-5-per-cent\/\",\"url\":\"https:\/\/tradebrains.in\/features\/rbi-ups-its-inflation-forecast-while-keeping-its-fy24-gdp-forecast-at-6-5-per-cent\/\",\"name\":\"RBI ups its inflation forecast while keeping its FY24 GDP forecast at 6.5 per cent. - 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