The Reserve Bank of India (RBI) has adjusted its GDP growth forecast for the fiscal year 2024-25, bringing it down to 6.6 percent from the previous estimate of 7.2 percent.

This revision aligns the central bank's outlook more closely with the finance ministry's Economic Survey, which predicts a growth rate as low as 6.5 percent for the current financial year.

The downward revision is a response to the economy's slowdown, with a growth rate of only 5.4 percent in the second quarter of the current fiscal year. This figure fell short of expectations, which had projected a GDP growth of around 6.5 percent during this period.

The RBI's earlier forecast had been slightly higher than the Economic Survey's most optimistic prediction of 7 percent, indicating a significant change in economic outlook.