The Chief of The Reserve Bank of India, Shaktikanta Das has expected that the GDP of India might shrink by almost 7.5% by the end of this fiscal year. They have decided to make no changes in the current interest rates. In October they had predicted a contraction of 9.5% but the economy is recovering quicker than anticipated. He further mentioned how urban recovery is benefiting rural recovery.
RBI expects economy to shrink by 7.5%
