The economy is poised to achieve 10.25 per cent GDP growth in FY 2021-22 on the back of effective Government policies, Reserve Bank's accommodative policy stance and improved business sentiments, industry body PHDCCI said on Monday.
The Reserve Bank last week retained the GDP (gross domestic product) forecast for the current financial year at 9.5 per cent and flagged global semiconductor shortages, elevated commodity prices and potential global financial market volatility as downside risks to economic growth.
The National Statistical Office, the official agency of the government, on August 31, had said the real GDP growth for the first quarter of 2021-22 was at 20.1 per cent. The RBI projected the GDP growth for the first quarter of the next financial year at 17.2 percent.
In its June policy review, the central bank had lowered the country's growth projection for the current financial year to 9.5 per cent from 10.5 per cent estimated earlier.