According to the recent figures, the World Bank may be confident of a faster growth rate for the Indian economy, but the Reserve Bank of India (RBI) has slashed the projection in the current fiscal. The RBI estimates that the growth rate in the current financial year (2019-20) will be seven percent. Earlier, RBI had projected the growth rate to be 7.2%. In addition, they know what they said next in their statement.

The Monetary Policy Committee, headed by the country's Reserve Bank governor Shaktikanta Das, said the data for the fourth quarter of the financial year 2018-19 shows that domestic investment activities have slowed down and the demand for slowing exports has also weakened. Trade-wise may affect India's exports and investments in the coming period due to weakening global demand. In addition, private investment in rural areas has been weakened. However, the positive aspect is that political stability, stock market buoyancy and increased flow of cash to the business sector are conducive to investment activities.

For your information, the latest estimate is that the growth rate in the first half of the current fiscal is expected to be 6.4-6.7 percent and 7.2-7.5 percent in the second half. The Reserve Bank said in April that the growth rate in the current fiscal is expected to be 7.2 percent. At that time, the RBI had projected a growth rate of 6.8-7.1% in the first half of the current fiscal and 7.3-7.4% in the second half. It may be noted that this week, the World Bank said that India's growth rate is estimated at 7.5% in the current fiscal. The earlier estimate was almost too much of the World Bank.

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