RBI cuts growth forecast to 7% for current fiscal

Updated: Sep 30 2022 11:11AM

Mumbai, Sep 30 (PTI) The Reserve Bank of India on Friday slashed the growth projection to 7 per cent for the current fiscal from the earlier forecast of 7.2 per cent, citing aggressive tightening of monetary policies globally and moderation in demand.

Unveiling the fifth monetary policy for this fiscal, RBI Governor Shaktikanta Das said the central bank remains committed to price stability to put the country on the sustained path of growth.

Real GDP growth in the first quarter of the current fiscal was 13.5 per cent.