The Reserve Bank of India (RBI) has cut the real GDP growth projection for 2022-23 from 7.2 per cent to 7 per cent even as it retained retail inflation projection at 6.7 per cent in 2022-23.

RBI Governor Shaktikanta Das projected the real GDP growth for the second quarter (Q2 FY23) at 6.3 per cent; Q3FY23 and Q4FY23 (4.6 per cent each); and Q1FY24 (7.4 per cent).

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The retail inflation projection for FY23 remain unchanged at 6.7 per cent, with retail inflation for the second quarter (Q2FY23) expected at 7.1 per cent; Q3FY23 (5 per cent), Q4FY23 (5.8 per cent); and Q1FY24 (5 per cent).