MUMBAI: Governor of the Reserve Bank of India Shakktanta Das Cooling was the headline on Friday inflation to 4.7 percent in April is “very satisfactory”.
The governor said Friday’s release of official data gave confidence that “monetary policy is on the right track”.
However, he declined to comment on whether the release of the figures will lead to it RBI to be less restrictive or to change policy stance, and joked that everything will be clear by the morning of June 8, when the next policy review is scheduled.
At the launch of G-20 Sherpa Amitabh Kant’s book Made in India, Das said the RBI was “fairly optimistic and fairly confident” about the country’s real GDP growth rate of 6.5 percent in FY24, albeit other analysts don’t mean this sanguinely.
Admitting there is a statistical base effect, Das said one needs to speak to each entrepreneur to understand the growth dynamics of higher sales each month.
Das said private investment is also picking up, citing steel, cement and petrochemicals among sectors seeing this.
If India grows 6.5 percent, it will contribute 15 percent to global growth this year, Das said, stressing that this is no small achievement.
That also said R&D spending needed to increase in both the private and public sectors.
“We also need to continue reforms and make sure we continue to have access to the best technology,” Das said.
The governor said Friday’s release of official data gave confidence that “monetary policy is on the right track”.
However, he declined to comment on whether the release of the figures will lead to it RBI to be less restrictive or to change policy stance, and joked that everything will be clear by the morning of June 8, when the next policy review is scheduled.
At the launch of G-20 Sherpa Amitabh Kant’s book Made in India, Das said the RBI was “fairly optimistic and fairly confident” about the country’s real GDP growth rate of 6.5 percent in FY24, albeit other analysts don’t mean this sanguinely.
Admitting there is a statistical base effect, Das said one needs to speak to each entrepreneur to understand the growth dynamics of higher sales each month.
Das said private investment is also picking up, citing steel, cement and petrochemicals among sectors seeing this.
If India grows 6.5 percent, it will contribute 15 percent to global growth this year, Das said, stressing that this is no small achievement.
That also said R&D spending needed to increase in both the private and public sectors.
“We also need to continue reforms and make sure we continue to have access to the best technology,” Das said.
