RBI revises FY24 inflation projection slightly lower at 5.1%, keeps GDP growth unchanged at 6.5%

The RBI revised the FY24 CPI inflation projection a tad lower at 5.1 per cent from the earlier projection of 5.2 per cent even as it kept the FY24 GDP growth projection at 6.5 per cent unchanged.

• Read: Monetary Policy Committee continues status quo on repo rate at 6.5%

CPI inflation is now projected to moderate to 5.1 per cent for 2023-24 (against 5.2 per cent projection earlier); with Q1 at 4.6 per cent (5.1 per cent); Q2 at 5.2 per cent (5.4 per cent); Q3 at 5.4 per cent (5.4 per cent); and Q4 at 5.2 per cent (5.2 per cent), with risks evenly balanced.

Real GDP growth for 2023-24 is projected at 6.5 per cent (unchanged from earlier projection), with Q1 at 8 per cent (7.8 per cent); Q2 at 6.5 per cent (6.2 per cent); Q3 at 6 per cent (6.1 per cent); and Q4 at 5.7 per cent (5.9 per cent), with risks evenly balanced.