RBI cuts FY23 GDP growth projection to 6.8 pc

Mumbai: The Reserve Bank on Wednesday lowered the country's GDP growth forecast to 6.8 per cent for the current fiscal from 7 per cent earlier, on account of continued geo-political tensions and tightening of global financial conditions.

India, however, remains a bright spot in the otherwise gloomy world and will be among the



fastest growing major economies, said RBI Governor Shaktikanta Das while announcing the latest bi-monthly monetary policy.

"The biggest risks to the outlook continue to be the headwinds emanating from protracted geo-political tensions, global slowdown and tightening of global financial conditions," he said.