Reserve Bank of India Governor Shaktikanta Das on Tuesday said gross domestic product (GDP) growth for the first quarter of 2024-25 was projected to be 7.3 per cent, expressing confidence in continued economic momentum driven by rural demand revival, government expenditure, and services exports.
At the same time, Das said that while inflation had been decreasing, the last mile of disinflation could be challenging due to volatile food prices. He said a change in policy stance at this point could be premature.
According to Das, the current account deficit (CAD) for FY24 could be lower than 1 per cent.
"We see a very strong momentum of economic activities," Das said at an ET Now event.
"And that same strong momentum of economic activity has also continued into the first quarter of this year. We are therefore optimistic that the projection for the first quarter of this year will indeed be 7.3 per cent, and there is no reason why the momentum will slow down," he said.
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