India's Economic Growth: Navigating Stability and Reform

RBI Governor Shaktikanta Das highlighted the strengths of India's macroeconomic fundamentals, driven by private consumption and investment, at the Future of Finance Forum 2024. The RBI forecasts 7.2% real GDP growth for 2024-25. Das emphasized inflation control, fiscal consolidation, and the importance of global financial reforms for stable growth.

RBI Governor Shaktikanta Das underscored the robust underpinnings of India's economic growth, attributing it to pivotal domestic factors such as private consumption and investment, during his keynote at the Future of Finance Forum 2024 in Singapore.

India's economy, rebounding strongly post-COVID, has averaged over 8% real GDP growth from 2021-24, with a projected 7.2% growth for 2024-25. Das highlighted moderating inflation and ongoing fiscal consolidation, noting that public debt levels are declining and corporate performance is on the rise.

On the global front, Das emphasized India's commitment to international cooperation and global financial reforms to address economic imbalances and ensure stability. He noted the resilience of global markets, despite increased volatility in riskier assets, and stressed the need for a more inclusive global financial governance system.

(With inputs from agencies.)