Shashanka Bhide, a member of the RBI Monetary Policy Committee, expressed optimism about India’s economic growth, foreseeing a sustained momentum of 7% growth in 2024-25 and beyond. He attributed this outlook to favorable monsoon conditions, increased farm productivity, and enhanced global trade. Bhide highlighted the anticipated growth rate of nearly 8% in 2023-24, propelled by robust performance in manufacturing and infrastructure sectors. However, he cautioned against challenges such as sluggish global demand recovery, supply chain disruptions, and geopolitical conflicts, emphasizing the need to mitigate the adverse impacts of extreme weather events on output for sustained growth.
RBI MPC Member Optimistic About India’s Growth Prospects
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