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India's growth story remains intact: RBI Governor
Sep-05-2024

Emphasizing need to increase women participation in the labour force as India's data is lower than global average, the Reserve Bank of India (RBI) Governor Shaktikanta Das has said that India's growth story remains intact. He noted that the central bank’s 7.2 percent GDP growth projection for FY25 is not out of place and structural drivers are playing a bigger role in macroeconomic outcome. 

RBI Governor further said that data shows fundamentals of growth drivers are gaining momentum, pointing out that the headline growth dipped because of lower government expenditure at central and state levels due to the 2024 Lok Sabha elections. According to him, the expenditure of both the Centre and the state governments would pick up pace in line with respective budget estimates.

While calling the corporate sector to come forward to step up their current investments in the backdrop of visible signs of such private investments in the country, Das said that the introduction of Goods and Services Tax (GST) and reforms in the Insolvency and Bankruptcy Code (IBC) have yielded long-term positive outcomes. He also added that the country now needs reforms in land, labour and agri market.


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