GDP to clip at 9.5% as growth impulses strong: RBI Governor

“Though soaring global crude prices and many geopolitical issues along with other global headwinds are challenges to growth, the overall growth outlook is very positive for us. I am very confident that our 

“Our assessment is that we are on a path of reaching the 9.5 per cent growth comfortably,” Das said at a function organised by financial daily Business Standard.

But there are global headwinds as advanced economies, which have recovered faster from the pandemic and had posted higher growth numbers earlier, seem to have moderated now, he noted, putting question marks on the 5.9 per cent global GDP forecast.

Given all these global GDP may undershoot the 5.9 per cent target due to shortages of semiconductors, shipping containers, and the resultant soaring freight rates, among others.But on top of all these is that many European, Asian and American countries are still fighting the pandemic, Das said, warning “this should ensure that there is no room for complacency at all”.

He also based his growth optimism on the indications coming in from bankers that investment loans are making a slow come back and will pick up steam from the next fiscal.