RBI lowers GDP growth projection to 6.8 for FY23

New Delhi: The Reserve Bank on Wednesday marginally lowered the country's GDP growth projection for the current fiscal at 6.8 percent from its earlier estimate of 7 percent. However, despite the downward revision in the economic growth projection, India will remain among the fastest-growing major economies in the world, said RBI Governor Shaktikanta Das while announcing the latest bi-monthly monetary policy.

He said the Indian economy remains resilient and is a bright spot in a gloomy world. It is to be noted that the RBI had also pared its growth projection in September as well. (Also Read: DEEP and AMAZING SURVIVAL story of engineering DROPOUT will melt your heart; Anand Mahindra thrilled by THIS story)

The World Bank on Tuesday revised upwards its GDP growth forecast for India to 6.9 percent for 2022-23 from its earlier estimate of 6.5 percent, saying the economy was showing higher resilience to global shocks. (Also Read: Google Pixel Fold 2022 to launch THIS month: Check price, specs, and other key details of the phone)