RBI Governor: Indian Economy to Grow at 7.4%, New GDP Series Soon

• RBI Governor Sanjay Malhotra announced that India's economy is in a strong position despite global uncertainties, projecting a 7.4% real GDP growth rate for the fiscal year.
• The RBI kept the repo rate unchanged at 5.25% during the monetary policy announcement.
• A 'new series' for measuring GDP and inflation data will be introduced soon to enhance accuracy of macroeconomic indicators.
• The RBI increased the GDP growth estimate for FY26 from 7.3% to 7.4% and projected Q1 FY27 growth at 6.9% and Q2 FY27 at 7%.
• Real GVA growth rate is estimated at 7.3%, driven by a strong service sector, manufacturing, and construction.