RBI raises FY27 GDP forecast to 6.7% after stronger Q1
Business
The Reserve Bank of India (RBI) just nudged its GDP growth forecast for FY27 up to 6.7% (from 6.6%), saying the economy did better than expected in the first quarter this year.
RBI Governor Sanjay Malhotra shared that the second quarter's outlook is also a bit brighter, now at 6.7%.
RBI holds 5.25% rate, economists unsurprised
Most economists thought the RBI would stick with its old prediction, but a few guessed there would be a small upgrade, so this news is not a huge shock.
Even with the boost, Malhotra pointed out there are still risks ahead, such as unpredictable monsoon weather and global issues.
The RBI is keeping interest rates steady at 5.25% for now and says it will keep watching how things play out.