(ET)
RBI Governor Shaktikanta Das said India’s June quarter GDP growth print at 5 per cent came in as a big surprise for the central bank, whose growth forecast at 5.8 per cent was way off the mark.
This, he said, has set off an internal review within the Reserve Bank of India to find out “what we missed out, where we went wrong.”
“We are examining the GDP much more closely now,” the governor told in an exclusive interview. “In inflation forecasting, we are almost onon the dot now. The margin of error has come down significantly. We want to get more accurate with GDP forecast too,” he said. Asked when RBI expects growth to recover, Das refused to give a timeline. “We have to see the Q2 numbers, and figure out whether the slowdown will sustain,” he said.
