Investment activity is expected to get support from the government’s capex push, improving bank credit and rising capacity utilisation, RBI said.

Real GDP growth for Q1:2023-24 is projected at 6.7 per cent, stated RBI.

Reserve Bank of India stated that real GDP growth projection for 2022-23 is retained at 7.2 per cent, with Q1 at 16.2 per cent; Q2 at 6.2 per cent; Q3 at 4.1 per cent; and Q4
at 4.0 per cent, and risks broadly balanced. 

Real GDP growth for Q1:2023-24 is projected at 6.7 per cent, stated RBI.

RBI further added that the demand for contact-intensive services and the improvement in business and consumer sentiment should bolster discretionary spending and urban consumption.

Investment activity is expected to get support from the government’s capex push, improving bank credit and rising capacity utilisation, RBI said.

Firms polled in the Reserve Bank’s industrial outlook survey expect sequential expansion in production volumes and new orders in Q2:2022-23, which is likely to sustain through Q4.