Mumbai, April 8 (TIWN) Reserve Bank of India on Friday lowered India's FY23 GDP growth projection to 7.2 per cent from an earlier estimation of 7.8 per cent.

In a statement after the Monetary Policy Committee's bi-monthly meet, RBI Governor Shaktikanta Das said the real GDP growth is projected at 16.2 per cent in Q1FY23, at 6.2 per cent in Q2; at 4.1 per cent in Q3 and Q4 at 4 per cent, assuming that crude oil (Indian basket) price is at $100 per barrel during 2022-23. "As the horizon was brightening up, escalating geopolitical tensions have cast a shadow on our economic outlook. Although India's direct trade exposure to countries at the epicentre of the conflict is limited, the war could potentially impede the economic recovery through elevated commodity prices and global spillover channels," he said.