Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday projected India’s economic growth for the financial year 2023 (FY23) at 7.8 per cent.

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The growth rate for the current financial year is retained at 9.2 per cent

The governor said there was some loss of economic momentum due to the third pandemic wave, and the demand for contact intensive sector is muted.

Further, the Central bank has left the benchmark interest rate or repo rate — the rate at which banks borrow from the Central bank — unchanged at 4 per cent for the tenth consecutive time and decided to continue with an accommodative stance.