The country is ready for changes, India is moving on the path of sustainable growth: Shaktikanta Das | News India

Mumbai, September 05 (HS). Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday that the country is moving on the path of sustainable growth. The RBI Governor said that the fundamental drivers of the Indian economy are gaining momentum. The country is ready for these changes.

Shaktikanta Das said this at the annual FIBAC 2024 conference jointly organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Indian Banks Association (IBA) here. In his inaugural address, the RBI governor said that there are extensive changes taking place in various economic sectors and markets, and the country is ready for these changes.

The RBI Governor said that the Reserve Bank has projected an economic growth rate of 7.2 percent for the current financial year 2024-25. The International Monetary Fund (IMF) has also revised its growth rate forecast for India and now it is at 7 percent. At the same time, two days ago, the World Bank has increased India's growth forecast for the financial year 2024-25 to seven percent. In such a situation, I think that if we talk about the economic growth rate projected by all national and international agencies and the Reserve Bank, then our assumptions and estimates are matching each other.

Governor Das further said that it is a pleasure to be back at the FIBAC Annual Conference. This conference is special because it brings together industry leaders, financial sector players and regulators on one platform to discuss important issues of contemporary relevance. I would like to congratulate FICCI and IBA for organizing this annual conference. In his address, he said that the Indian economy is now at a critical juncture. He said that massive changes are taking place in various economic sectors and markets. Our country's journey towards becoming an advanced economy is drawing strength from a unique mix of factors. These are a young and dynamic population, a resilient and diverse economy, a strong democracy, a rich tradition of entrepreneurship and innovation.