The Reserve Bank of India (RBI) projected a real GDP growth of 7.2% for FY 2024-25, driven by strong domestic economic activity. The repo rate remains unchanged at 6.50% to maintain price stability while supporting growth. CPI inflation edged up to 5.1% in June 2024, primarily due to food inflation, though fuel remained in deflation. The financial system is resilient, with improvements in the NBFC sector and Urban Cooperative Banks. The current account deficit moderated to 0.7% of GDP in 2023-24. The RBI proposed measures to enhance the digital lending ecosystem and ease tax payments and cheque clearing through UPI enhancements. Aspect Details Real GDP Growth Projection 7.2% for FY 2024-25 Repo Rate Unchanged at 6.50% Inflation CPI inflation at 5.1% in June 2024, driven by food inflation Financial Stability Resilient financial system, strong NBFC sector and Urban C...
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