RBI Monetary Policy lowers India’s GDP growth forecast to 6.6% for FY27

The Reserve Bank of India’s Monetary Policy Committee (MPC) has lowered its forecast for India’s gross domestic product (GDP) growth for the financial year 2027 to 6.6%. The RBI MPC had earlier forecast 6.9% for the same.It has reduced its GDP forecast for the first quarter of FY27 to 6.6% from 6.8%; for the second quarter to 6.3% from 6.7%; for the third quarter to 6.5% from 7% and for the first quarter to 6.8% from the previous forecast of 7.2%.
RBI Monetary Policy keeps repo rate unchanged
RBI governor Sanjay Malhotra announced key policy decisions of the MPC on Friday, June 5. The RBI MPC kept the repo rate unchanged at 5.25% and maintained its ‘neutral’ stance.
‘Economy demonstrated resilience’
The governor said domestic economic activity has largely remained steady despite the West Asia war outbreak, highlighting the resilience of both demand and supply-side drivers of growth. Overall, the RBI said the Indian economy has demonstrated resilience in the face of global uncertainties. However, it cautioned that the impact of increasing cost pressures is starting to become visible across segments.In April, the RBI MPC had projected India’s real GDP growth of 6.9% for FY27. Its GDP estimates for the first quarter was 6.8%, for the second quarter was 6.7%, for the third and fourth quarters was 7% and 7.2%, respectively.GDP data today
On another note, the Centre is scheduled to release its GDP data for the fourth quarter and the entire financial year 2026 on June 5. A CNBC-TV18 poll has forecast GDP growth of 7.3% for the March quarter and 7.5% for the entire fiscal.Click here to check LIVE updates on the RBI MPC announcement, press briefing, analyst discussions and more.First Published: Jun 5, 2026 10:18 AM IST

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