India must sustain growth momentum, secure at least 7% growth in FY25: RBI

India must aim to sustain the current growth momentum and secure a real GDP growth of at least 7% next fiscal year in an environment of macroeconomic stability, the Reserve Bank of India said in its monthly bulletin released on Thursday.

Earlier this month, India's statistics office forecast annual growth of 7.3%, the highest among major global economies, for the current fiscal year ending in March. 

Earlier this month, India's statistics office forecast annual growth of 7.3%, the highest among major global economies, for the current fiscal year ending in March.

The RBI's projection stands at 7% but could be raised during its monetary policy review meeting on Feb. 8. 

In a separate article on the impact of food prices on inflation, the RBI noted that large and persistent changes in food prices can affect headline inflation lastingly as prices of some components in the food group are seen to satisfy core inflation properties.

The RBI also noted the pressure on global supply chains due to the recent attacks on commercial ships in the Red Sea trade route, necessitating rerouting via the Cape of Good Hope in South Africa.