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The Reserve Bank of India (RBI) expects second half (H2) growth to turn positive as economic recovery has been faster than anticipated. It has revised the FY2021 GDP growth estimate to -7.5 per cent against -9.5 per cent projected earlier.
The central bank has projected third quarter (Q3) growth at 0.1 per cent (-5.6 per cent projected earlier) and fourth quarter (Q4) growth at 0.7 per cent (0.5 per cent).
In an indication that inflation will continue to remain sticky, the central bank has revised CPI inflation band for H2 to 5.2-4.6 per cent from 5.4-4.5 per cent earlier.
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