Mumbai : Reserve Bank of India i.e. RBI Governor Shaktikanta Das has recently given a big statement regarding GDP figures. On Wednesday, Shaktikanta Das said that mixed figures have been received regarding economic growth. He has also informed that the positive factors in these figures are much more than the negative factors.
Shaktikanta Das said at Business Standard's annual BFSI event that underlying economic activity remains strong overall. He said that the data coming in is mixed, but the positive aspects outweigh the negative aspects and overall built-in activities remain strong.
Concern about growth
It is noteworthy that many analysts are expressing concern about growth. This happened especially after the arrival of official data, when the growth rate in the first quarter of the financial year 2024-25 fell to a 15-quarter low of 6.7 percent. However, the Reserve Bank of India i.e. RBI is sticking to its estimate of GDP growth of 7.2 percent for 2024-25, while some people believe that it will be less than 7 percent.
Slowdown in urban demand for FMCG
Shaktikanta Das has said that RBI looks at more than 70 high-frequency indices to arrive at its estimates. Das said industrial production or IIP data, and urban demand for fast-moving consumer goods (FMCG) are subdued.
Also read:- SBI released report, GDP estimate is 6.5 percent and growth rate is expected to be 7 percent.
mention of good performance
Additionally, there has been an increase in subsidy expenditure in the September quarter and this will have an impact on the second quarter GDP figures. Among the positive aspects, he mentioned GST e-way bill, toll collection, air passenger traffic and good performance of steel and cement industry.
SBI report
SBI, one of the major banks of the country, has also recently presented a report. On the basis of which, India's GDP growth in the second quarter of the financial year 2024-25 is expected to be around 6.5 percent. However, it has also become clear from this report that there has been a slight decline in growth in the second quarter of this year, due to which a temporary recession may also occur.
(with agency input)
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