RBI Governor Sanjay Malhotra on Wednesday reduced the GDP growth estimate for the current financial year by 20 basis points to 6.5% due to policy and trade uncertainties. On a quarterly basis, real GDP is estimated to be 6.5% in Q1, 6.7% in Q2, 6.6% in Q3 and 6.3% in Q4. RBI expects inflation to be at 4% in FY26.