CURRENT AFFAIRS : BANKING & FINANCE
RBI economic activity index nowcast Q1 GDP growth forecast at 7.6%
- The Reserve Bank of India (RBI) has announced its economic activity index (EAI) nowcast, forecasting a strong Gross Domestic Product (GDP) growth rate of 7.6% for the first quarter of the fiscal year 2023-2024 (Q1 FY24).
- This is against real GDP growth of 7.8% projected in the April 2023 Bi-monthly Monetary Policy Statement.
Key Highlights :
- The nowcast GDP growth is based on partial data available for April 2023.
- The nowcast GDP growth is based on assuming an implied GDP growth of 5.1% for Q4 (January-March) FY23.
