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<h1>GDP growth projection revised upward while inflation forecast lowered, driven by monsoon improvements and GST rationalisation.</h1> The Reserve Bank revised its macroeconomic outlook by raising the GDP growth projection and lowering the CPI inflation forecast, citing an above normal monsoon and GST rate rationalisation. Stronger Q1 real activity and a marked decline in food inflation-supported by improved supply prospects and government supply chain measures-underpinned the downward revision in headline inflation, while core inflation remained contained. The statement also noted that external tariffs may moderate export growth and provided quarter by quarter trajectories reflecting these dynamics.