India's growth trajectory supported by an environment of macroeconomic and financial stability

Shaktikanta Das, Governor, Reserve Bank of India noted in a speech that Indian economy rebounded from the severe contraction imposed by the COVID-19 pandemic and averaged real GDP growth of above 8 per cent during 2021-24. For 2024-25, the Reserve Bank of India (RBI) projects real GDP growth at 7.2 per cent, with risks evenly balanced around this forecast. This growth outlook reflects the underlying strength of India's macro-fundamentals, with domestic drivers - private consumption and investment - playing a major role. Moreover, the growth trajectory is supported by an environment of macroeconomic and financial stability.