RBI Forecasts Robust Economic Growth for India: Economy Set to Surge to 8% The Reserve Bank of India (RBI) has unveiled an optimistic outlook for the Indian economy, predicting a significant surge in growth from 7% to 8% in the current fiscal year. This remarkable projection reflects the RBI’s confidence in India’s economic recovery and highlights the country’s potential for sustained high growth. According to the RBI’s latest Monetary Policy Committee (MPC) meeting, factors contributing to this robust growth include strong domestic consumption, improving investment, and a favourable external environment. Notably, private consumption is anticipated to remain strong, supported by rising incomes and increased consumer confidence. Furthermore, the RBI anticipates that capital formation will pick up pace, driven by both private and public investments. Public infrastructure spending is expected to play a significant role in this regard, stimulating economic activity and creating employment opportunities. The RBI also cites India’s improved export performance as a key factor in driving growth. Benefiting from global demand and a competitive exchange rate, exports are projected to continue their upward trajectory. However, the RBI recognizes that certain challenges remain, including rising input costs and supply chain disruptions. It emphasizes the need for continued monetary policy support and prudent fiscal management to navigate these challenges effectively. The RBI’s positive outlook has been met with optimism from economists and industry experts. They believe that India is well-positioned to harness the opportunities presented by the post-pandemic economic recovery. With its strong fundamentals, favourable demographics, and government initiatives, India is poised to achieve and sustain high economic growth in the years to come.”Shaq” Continues to Shine on International Stage
“Shaq” Continues to Shine on International Stage At 32, Xherdan Shaqiri remains an unstoppable force for Switzerland, scoring a stunning goal in the 1-1 draw against Scotland at the 2024 European Championship. His goal marks the sixth consecutive major international tournament in which Shaqiri has found the net, dating back to the 2014 World Cup. This achievement makes him the first player to score in three consecutive World Cups and three consecutive European Championships, according to UEFA. Despite leaving top-tier European football to play for the Chicago Fire, Shaqiri has seamlessly transitioned back to the international stage. Swiss coach Murat Yakin praised his unwavering determination: “He lives and breathes for moments like this.” With a curling effort from 20 yards out, Shaqiri equalized Scotland’s early lead, which came from a deflected shot by Scott McTominay. Scotland manager Steve Clarke acknowledged Shaqiri’s exceptional talent: “You knew when he rolled towards Shaqiri, he was destined for the back of the net. He is a top player, so you don’t give top players such a chance.” Throughout his illustrious career, Shaqiri has represented renowned clubs such as Bayern Munich, Inter Milan, and Liverpool. Now, despite playing in the MLS, he continues to deliver for his country on the world’s grandest stage. Defender Manuel Akanji marveled at Shaqiri’s abilities: “I don’t know how many other players can score that goal.” The draw leaves Switzerland second in Group A with four points, likely securing their advancement to the round of 16. Scotland’s hopes for the knockout round rest on their final match against Hungary and other results. Both teams had opportunities to claim victory. Switzerland missed a golden chance to take the lead when Dan Ndoye fired wide, while Scotland’s Grant Hanley headed against the post. Despite Scotland’s history of group-stage exits in major tournaments, the optimism among their fans remains unwavering. The supporters created a lively atmosphere at the Cologne square and the stadium, adding to the spectacle of the evening. Germany secured their second win by defeating Hungary 2-0, becoming the first team to advance to the knockout phase. Meanwhile, substitute Klaus Gjasula’s late equalizer prevented Croatia from securing a victory against Albania in Group B.
The Reserve Bank of India (RBI) has revised its projection for India’s economic growth for the current fiscal year, now estimating it to be in the range of 7.8-8.0%. This is an upward revision from the earlier estimate of 7.2%. The RBI cited several factors contributing to the improved outlook, including strong consumer demand, increased government spending, and a gradual recovery in exports. The central bank also noted that inflation has remained within its target range, with the Consumer Price Index (CPI) averaging 6.8% in the first half of the fiscal year. This has given the RBI room to maintain an accommodative monetary policy stance, with the benchmark repo rate currently at 4.0%. “The Indian economy is showing signs of resilience and recovery,” said RBI Governor Shaktikanta Das. “We expect growth to accelerate in the coming quarters, supported by a strong domestic demand and improving external conditions.” However, the RBI cautioned that the global economy faces headwinds, including the ongoing war in Ukraine, rising commodity prices, and monetary policy tightening in major economies. “These factors could pose downside risks to our growth outlook,” Das said. The revised growth projection from the RBI is in line with expectations from other economists. The International Monetary Fund (IMF) recently projected India’s growth to be 7.4% for the current fiscal year.
