New Delhi : Reserve Bank of India (RBI) Governor Shaktikanta Das anticipates India’s economy, the world’s fastest-growing large economy, to achieve a remarkable 7 per cent growth in the fiscal year 2024-25.
Speaking at a CII session during the World Economic Forum Annual Meeting in Davos, Das expressed optimism about sustaining the country’s growth momentum, highlighting the successful transition “from crisis to confidence.”
Das underscored the government’s commitment to supporting growth, focusing on achieving inflation targets, and mentioned the strong thrust on capital expenditure, private investment, and healthy aggregate demand conditions.
Additionally, Das praised India’s burgeoning Fintech sector, noting an 87 per cent adoption rate, surpassing the global average of 67 per cent.
The sector is projected to reach USD 150 billion by 2025.
Furthermore, the RBI Governor credited appropriate policy actions and liquidity measures for India’s swift and sustained recovery from the pandemic, complemented by structural reforms in taxation, banking, and infrastructure.
As the next monetary policy review approaches in February, there’s anticipation that the RBI may revise upward its growth forecast for the current fiscal to 7.3 per cent, aligning with the government’s advance estimate.
