Mumbai: In line with the Union Budget 2021, the Reserve Bank of India (RBI) on Friday projected a GDP growth rate of 10.5% for the financial year beginning April 1, 2021, on the back of recovery in economic activities.With regard to inflation, RBI governor Shaktikanta Das said vegetable prices are expected to remain soft in the near term as the central bank projected the retail inflation rate would come down to 5.2% in the current quarter and progressively decline to 4.3% by the third quarter of the next fiscal.He said the growth outlook has improved significantly and the vaccination drive will help the economic rebound.Das further said the economy will rebound to 10.5% in the next financial year.Also read: Budget 2021 Stops Short of the Kick the Indian Economy NeededAfter the Budget 2021-22 announcement on Monday, economic affairs secretary Tarun Bajaj had said that real GDP growth would be 10-10.5% in the next fiscal.“Our revenue figure is under-stated not overstated. We have taken nominal GDP at 14.4% and revenue growth at 16.7%. So, the buoyancy is only 1.16. We are hopeful we will get more than this. We will definitely be within 6.8% and could be lower also,” Bajaj had said.The RBI governor further said that the government will be reviewing the inflation target by March-end.The monetary policy committee headed by the RBI governor has been given the mandate to maintain annual inflation at 4% until March 31, 2021, with an upper tolerance of 6% and a lower tolerance of 2%.(PTI)