India's growth momentum is likely to be sustained in FY24 amid easing inflationary pressures, Reserve Bank of India (RBI) said in its annual report. "Amidst strong global headwinds, the Indian economy is expected to have recorded a growth of 7% in real GDP in 2022-23," the annual report mentioned. India's total income in FY23 surged by 47% to ₹2.35 trillion.