RBI Deputy Governor Poonam Gupta said India’s economy remains resilient despite oil and tariff-related challenges, global uncertainty and the risk of a rainfall deficit and indicated that growth could surpass the central bank’s 6.7% projection for the current fiscal.
India’s GDP growth could exceed the Reserve Bank of India’s (RBI) 6.7 per cent forecast for the current fiscal year, RBI Deputy Governor Poonam Gupta said, citing high-frequency indicators and economic analysis.
Speaking at the Madras School of Economics on Thursday, Gupta said the Indian economy had remained resilient despite several external and domestic challenges, including the oil and tariff crises, heightened global uncertainty and the possibility of a rainfall deficit.
Gupta said the numbers could turn out better than the RBI’s current growth projection of 6.7 per cent. She also said 7.5 per cent growth should be considered achievable going forward, suggesting that India could sustain a stronger growth trajectory in the coming years.
She further pointed to an improving balance of payments (BoP) outlook, saying external sector conditions were likely to become more conducive.
Gupta also highlighted India’s relatively favourable fiscal position compared with advanced economies. Citing an IMF publication, she said the debt-to-GDP ratio of advanced economies was projected to rise from 108 per cent in 2026 to 115 per cent in 2031, while India’s ratio was projected to decline from 83 per cent to 78 per cent over the same period.
More from BusinessThe comments come as policymakers navigate a mix of global uncertainties and domestic growth drivers, with the RBI continuing to assess high-frequency economic indicators to gauge the strength and durability of India’s expansion.
