Reserve Bank of India (RBI) Governor Shaktikanta Das expressed satisfaction with the recent cooling off of headline inflation, saying it reached 4.7 percent in April, which he deemed "very satisfying" in a recent interview in the Economic Times of India.
"We also need to continue with reforms and also ensure that we keep accessing the best of technology," he said.
Das said the release of the official data on Friday creates confidence that the "monetary policy is on the right track".
However, he shied away from commenting on whether the statistics' release would cause the RBI to become less pessimistic or alter the course of the policy, joking that everything will become obvious on June 8, when the next policy review is issued.
Speaking at the book launch of G-20 Sherpa Amitabh Kant's "Made In India," Das said the RBI is "quite optimistic and fairly confident" about the nation's 6.5% real GDP growth rate in Fiscal Year 2024, although other analysts are less upbeat. Das acknowledged that there is a statistical base impact, but he insisted that to really grasp the increasing momentum of increased sales each month, one must interact with each entrepreneur. Steel, cement, and petrochemicals are three industries Das mentioned where private investments are increasing. According to Das, if India grows at a rate of 6.5%, it will contribute 15% to global growth for the year, and he emphasized that this is no small feat.
The Reserve Bank of India's governor, while pleased with the recent cooling off of inflation, recognized the need for ongoing reforms and the integration of advanced technology. These factors, coupled with the optimistic outlook for India's economic growth, contribute to the RBI's confidence in its monetary policy decisions, he said.
