RBI says, 'India's growth is being boosted by the support of domestic engines and private investment'

The growth of India is being increased by the support of domestic engines and private investment amid geopolitical tensions, according to the Reserve Bank of India. The bulletin issued by the Reserve Bank said that the economy remained resilient in the first half of 2024. As a result of the decline in inflation, domestic spending increased.

The article on the state of the economy said the bulletin mentioned, "Despite geopolitical tensions, strong domestic engines support India's growth scenario." It further said during the second quarter of 2024-25, the momentum showed deficiency for some high-frequency indicators. This was partly due to some unknown reasons such as unusually heavy rains in August and September.

In the article by the team of RBI Deputy Governor Michael Debabrata Patra, it said that leaping ahead some positive signs looking ahead, private investment. While, during the festive season, consumption spending is expected to increase. As per Amar Ujala, inflation increase in September after two consecutive months below target, as unfavorable statistical base effects were aggravated further by a resurgence in food price momentum said -the report. The bank said the views expressed in the article are those of the authors and have no connection with the Reserve Bank of India.