The Reserve Bank of India (RBI) will carry out a study to assess India’s potential growth and real growth rate after the estimate of national income for 2023-24 is released at the end of May, governor Shaktikanta Das disclosed on Friday.
“We will undertake a study after the final GDP numbers for the year 2023-24 are released at the end of May. We will undertake a state study to assess the potential growth and the real growth rate,’’ Das said.
The RBI governor pointed out that the potential growth rate has gone up since the last study by the central bank.
He said the average growth for 2021-22, 2022-23 and 2023-24 comes at 8 per cent.
Responding to a query on the RBI choosing to maintain the real GDP growth estimate at 7 per cent for the current fiscal year, he said this was due to the base effect of higher growth in the years leading to 2024-25.
Das added that if the growth rate comes at 7 per cent for 2024-25, it will be the fourth consecutive year of 7 per cent growth rate.
Das said in his address that the global economy has remained resilient with a stable outlook as reflected in various high frequency indicators.
Moreover, global trade is expected to grow faster in 2024, although weaker than its historical average.
