The State of the Economy report of the central bank said that inflation needs to align with the target by the second quarter of the year and get anchored there to achieve 7% GDP growth in FY25. RBI in its December 2023 policy projected inflation measured by Consumer Price Index to be at 4% in the second quarter FY25.
The global ratings agency estimated India’s economy will grow 6.9% this fiscal year ending March 2024 and by 6.5% the year after and forecast headline inflation will ease towards 4.7% by the end of 2024.
A Moneycontrol survey of more than 50 Indian CEOs in January, days ahead of the interim budget, reveals that most business heads expect to be working with the same levels of interest rates and inflation in the first half of 2024
India s retail inflation in December rose to 5.69 per cent, compared to 5.55 per cent in November, according to data released by the Ministry of Statistics & Programme Implementation on Friday. This increase remains within the Reserve Bank of India s tolerance range of 2-6 per cent. On a month-on-month basis, the inflation rate contracted by (-)0.32 per cent.