Mumbai: The apex bank in the country, Reserve Bank of India (RBI) has reduced the Gross Domestic Product (GDP) growth projection of the country. RBI governor Shaktikanta Das announced this after the meeting of Monetary Policy Committee.
RBI has slashed the growth projection to 7% for the current fiscal year. Earlier it was projected at 7.2%. RBI Governor Shaktikanta Das said that the bank is committed to price stability to put the country on the sustained path of growth.
RBI in April slashed the real GDP growth projection to 7.2% from its earlier forecast of 7.8% for 2022-23. Real GDP growth in the first quarter of the current fiscal was 13.5%.