Is RBI too worried about growth? 10 things Shaktikanta Das said

economictimes.indiatimes.com:

FY25 GDP growth forecast to 6.6 per cent from 7.2 per cent, Governor Shaktikanta Das announced on Friday.

Q3FY25 GDP growth forecast was reduced to 6.8% from 7.4%, Q4 growth target was lowered to 7.2% from 7.4%, and Q1FY26 was also revised to 6.9% from 7.3%.

ALSO READ: RBI Policy Meeting GDP Forecast: Das & Co cut India’s FY25 growth aim to 6.6% from 7.2%

The decision came after India's economic growth slumped more than expected to a seven-quarter low of 5.4% in the September quarter, dragged down by weak manufacturing and tepid demand amid high inflation and elevated interest rates. Economists have also pared their growth projections for the year, with Goldman Sachs Group predicting an expansion of 6%, compared to 6.4% earlier.

10 things Shaktikanta Das said on India's growth:

1. Going forward, high-frequency indicators available so far suggest that the slowdown in domestic economic activity bottomed out in the second quarter of this year and it has since recovered aided by strong festive demand and pickup in rural activities.
2. Growth in real GDP in the second quarter of this year at 5.4% turned out to be «much lower than anticipated.»
3. This decline in growth was led by a substantial deceleration in industrial growth from 7.4% in the first quarter to 2.1% in the second quarter due to the subdued performance of manufacturing companies, contraction in mining activity and lower electricity demand.
4. The weaknesses in the manufacturing sector, however, were not broad-based but were limited to specific sectors such as