Mumbai, July 27: The Indian financial system is stronger than in the past and the country’s economy is an outlier which is growing steadily even as the global financial system is facing strong headwinds, according to RBI Deputy Governor M. Rajeshwar Rao. “If we exclude post-COVID rebound in 2021-22, India’s real GDP growth in 2023-24 surged to its highest since 2016-17, surpassing expectations. The period marked a shift in growth trajectory from an average of 7 per cent pre-2020 to an average of 8 per cent or higher during the subsequent period, driven largely by domestic factors. Inflation is currently forecast to average around 4.5 per cent in 2024-25 and 4.1 per cent in 2025-26,” he said in a recent address at the J P Morgan India Leadership Series Lecture.The Indian financial system is stronger than in the past and the country’s economy is an outlier which is growing steadily even as the global financial system is facing strong headwinds, according to RBI Deputy Governor M. Rajeshwar Rao. “If we exclude post-COVID rebound in 2021-22, India’s real GDP growth in 2023-24 surged to its highest since 2016-17, surpassing expectations. The period marked a shift in growth trajectory from an average of 7 per cent pre-2020 to an average of 8 per cent or higher during the subsequent period, driven largely by domestic factors. Inflation is currently forecast to average around 4.5 per cent in 2024-25 and 4.1 per cent in 2025-26,” he said in a recent address at the J P Morgan India Leadership Series Lecture.