RBI projected in its annual report that India's real GDP growth rate in FY24 will be at 6.4%. It expects real GDP growth rate to be at 7.8% in Q1, 6.2% in Q2, 6% in Q3 and 5.8% in Q4 with "risks broadly balanced". "Elevated inflation remained a major risk to the [real GDP growth rate] outlook," the report added.