The RBI Governor Shaktikanta Das said on Thursday that the Indian Economy is likely to register a growth rate of 7 per cent in the next fiscal.
The inflation is already moderating and RBI is confident of achieving the target, said a PTI report quoting the Governor who was addressing a CII session on the sidelines of the World Economic Forum Annual Meeting in Davos.
The RBI Governor was of the view that India presents a picture of growth and stability amidst a challenging global macroeconomic environment.
Das further said the structural reforms undertaken by the central government in the recent years have boosted the medium and long-term growth prospects of the Indian economy.
“Chances of soft landing have improved and markets have reacted positively. However, geopolitical risks and climate risks remain a matter of concern, the RBI Governor said.
“There has been a strong domestic demand and this has helped India to emerge as the fastest growing economy…we have emerged stronger out of the recent spate of global shocks,” he said.
The Forex reserves are sufficient and inflation has eased compared to that of last year. This shows that the monetary policy and rebalancing of liquidity are properly working, Das opined while asserting that the Indian Economy is likely to grow to 7 per cent by 2024-25.
