RBI Governor Says India Should Aspire for Growth Near 8%, Cites Strong Recent Performance

By A Staff Reporter

Mumbai: Reserve Bank of India Governor Sanjay Malhotra on Friday said that India should confidently aspire for higher economic growth, given the country’s strong performance over the past few years. Speaking at the post–monetary policy press conference, he offered a cautiously optimistic outlook when asked whether India should target growth above current estimates.

Malhotra explained that determining the exact potential GDP is inherently complex, but the central bank’s baseline assumptions remain firm. “So that is the baseline when I said 7, you know, that is really the baseline because these are difficult things to actually estimate, as to what our potential GDP is,” he said.

He added that national aspirations need not be constrained by technical estimates alone. “Of course, aspirations can be very high,” Malhotra remarked, pointing to India’s strong recent growth record. “Having delivered 8 per cent on average in the last three–four years, this is certainly well within our reach and we should certainly aspire for anything in that region.”