India's economy to grow between
6.1% and 6.3% in Q2, says RBI bulletin
India's economy is
expected to grow between 6.1% and 6.3% in the second quarter of the current
financial year based on high frequency indicators and economic prediction
models, the Reserve Bank of India (RBI) said in its monthly bulletin.
"If this is
realised, India is on course for a growth rate of about 7% in 2022-23,"
the central bank said.
Data for the
July-September quarter will be released at the end of this month.
inflation beginning to show signs of easing, the domestic macroeconomic outlook
can best be characterised as resilient, but sensitive to formidable global
headwinds," the RBI said.
"While urban demand
appears to be robust, rural demand is muted, but more recently picking up traction."
The central bank, however, highlighted that the global economy continues to be
clouded with downside risks, with global financial conditions tightening and
deteriorating market liquidity amplifying financial price movements.
"Markets are now pricing
in moderate increases in policy rates and risk-on appetite has returned. In
India, supply responses in the economy are gaining strength," the RBI