RBI projects GDP growth rate at 6% for FY21

The Reserve Bank of India (RBI) recently projected the economic growth of the country to grow by 6 per cent during the next financial year. This is the lower end of the growth projection as announced by the government in the economic survey, which estimated a rate of 6-6.5 per cent. RBI also stated that the Indian economy continues to be weak.

The first half of the year would grow in the range of 5.5-6.0 per cent and the third quarter at 6.2 per cent, as per the RBI. But this projection is higher than the GDP growth projection of 5%, made in the monetary policy statement of December 2019.