RBI cuts GDP forecast to 9.5%, keeps interest rates unchanged Tribune News Service New Delhi, June 4 Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday admitted that the unexpectedly higher rates of morbidity and mortality in the second wave have impaired recovery. "However, the impact on the economy is likely to be relatively contained because restrictions on mobility are regionalised and businesses have adapted to pandemic working conditions," said Das, while announcing a one per cent cut in the RBI''s GDP estimates for the current fiscal to 9.5 per cent. "We will continue to think and act out of the box, planning for the worst and hoping for the best. The measures announced today, in conjunction with other steps taken so far, are expected to reclaim the growth trajectory from which we have slid," he said, while announcing the decisions of the RBI''s Monetary Policy Committee (MPC). The MPC projected retail inflation at 5.1 per cent for this fiscal, within its target range of 4 per cent with a margin of 2 per cent on either side, said Das.