The Indian economy turned in a solid macroeconomic performance in the face of geopolitical headwinds and the build-up of supply chain pressures, Reserve Bank of India (RBI) stated in its latest Monthly Bulletin. Notwithstanding risks from geopolitical tensions, volatility in international commodity prices, and geoeconomic fragmentation, the RBI expected real GDP to rise by 7.2 per cent in 2024-25, over and above the growth rate of 8.2 per cent achieved in the year gone by. Headline inflation was projected to ease from 5.4 per cent in 2023-24 to 4.5 per cent in 2024-25, with evenly balanced risks from the rising incidence of adverse climate events, pressures from input costs and volatility in crude prices and financial markets on the one hand, and the benign effects of the monsoon on food prices on the other.
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