RBI projects 7 pc growth for next financial year
Mumbai (PTI): The Reserve Bank of India on Thursday projected a GDP growth of 7 per cent for 2024-25 financial year, which is lower than the 7.3 per cent expansion estimated for the current fiscal.
Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said rural demand continues to gather pace, urban consumption remains strong and investment cycle is gaining steam on the back of increased capex.
Das said there are signs of revival in private investments.
The real GDP for 2024-25 is projected to grow at 7 per cent, with June and September quarters growth at 7.2 per cent and 6.8 per cent, respectively.
The growth in December and March quarters is projected at 7 per cent and 6.9, per cent, respectively.
Das said domestic economic activity remains strong and growth in the current fiscal as per estimates by the NSO is 7.3 per cent.
"The momentum of 2023-24 is expected to continue in 2024-25 fiscal," Das said.
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Gold smuggling case: Court rejects Kannada actor Ranya's bail plea
Bengaluru, Mar 14 (PTI): A Special Court of Economic Offences here on Friday rejected the bail plea of gold smuggling accused Kannada actress Harshavardhini Ranya alias Ranya Rao.The second accused in the case, Tarun Raju, has been remanded to judicial custody for 15 days as probe continues.
Ranya, stepdaughter of DGP rank officer K Ramachandra Rao, is presently lodged in the Parappana Agrahara Jail here.
The Directorate of Revenue Intelligence (DRI) seized gold bars worth Rs 12.56 crore from Ranya at Kempegowda International Airport when she arrived here from Dubai on March 3.
Subsequent searches conducted by DRI at her residence led to the recovery of gold jewellery worth Rs 2.06 crore and Indian currency amounting to Rs 2.67 crore.
During interrogation, authorities discovered that Tarun Raju was involved in facilitating the smuggling operation, allegedly coordinating the gold’s transport and distribution within India.
Both were taken into custody and booked under relevant sections of the Customs Act and Prevention of Smuggling Activities Act.
