Mumbai, May 30 (PTI) Indian economy is likely to grow at 7 per cent in the current fiscal year starting April, the Reserve Bank of India (RBI) said in its annual report released on Thursday.

The Indian economy, it said, expanded at a robust pace in 2023-24 (April 2023 to March 2024 financial year), with real GDP growth accelerating to 7.6 per cent from 7.0 per cent in the previous year – the third successive year of 7 per cent or above growth.

Also Read | Noida Fire: Blaze Erupts Inside Flat of Lotus Boulevard Society in Sector 100, No Casualties Reported; Video Shows Heavy Smoke Billowing Out of Apartment.

"The real GDP growth for 2024-25 is projected at 7.0 per cent with risks evenly balanced," it said.

The economy, it said, showed resilience in FY24 despite persistent headwinds.

Also Read | Madhya Pradesh Shocker: 15-Year-Old Girl Kills Father and Brother, Chops Bodies and Stores in Freezer; Arrested After Two-Month Chase by Haridwar Police.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)