Projection for real GDP growth retained at 9.5% in 2021-22: RBI Governor

Recent reductions in excise duty and state VAT on petrol and diesel should support consumption demand by increasing purchasing power, said Reserve Bank of India Governor Shaktikanta Das on December 8. After the MPC meet, RBI Governor said, “Government consumption is also picking up from August, providing support to aggregate demand. The projection for real GDP growth is retained at 9.5 per cent in 2021-22, consisting of 6.6 per cent in Q3, and 6 per cent in Q4. Real GDP growth is projected at 17.2 per cent for Q1 of 2022-23 and at 7.8 per cent for Q2 of 2022-23.”