RBI pegs FY25 GDP growth at 7.2%

RBI June Policy Review: The Reserve Bank of India (RBI) now projects domestic GDP growth at 7.2 per cent in the current financial year, instead of 7.0 per cent earlier, Governor Shaktikanta Das said on Friday as he announced the outcome of the central bank's June 5-7 review.

The RBI revised its estimate for the fiscal second quarter to 7.2 per cent from 6.9 per cent.

The central bank, however, kept its consumer inflation forecast for FY25 unchanged at 4.5 per cent.

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The Reserve Bank of India Governor-led Monetary Policy Committee - the central bank's top rate-deciding panel - voted 4:2 to keep the repo rate as well as the policy stance unchanged.

Currently, the repo rate, or the key interest rate at which the RBI lends short-term money to commercial banks, stands at 6.5 per cent, while the central bank remains "focused on withdrawal of accommodation".

Catch key highlights of RBI's June 5-7 policy review