RBI monetary policy: Report pegs FY23's economic growth at 7.8%

Survey shows inflation to soften further

The monetary policy report of the Reserve Bank of India (RBI) has pegged economic growth at 7.8 per cent for the next financial year (FY23), assuming normal monsoon and full vaccination against Covid-19.
 
“For 2022-23, the structural model estimates indicate real GDP growth at 7.8 per cent, with quarterly growth rates in the range of 5.0-17.2 per cent, assuming restoration of supply chains, a normal monsoon, no major exogenous or policy shocks, and full vaccination,” said the report, which is published twice a year — in April and October. 
 
While announcing the review of the monetary policy on