Growth is set to slow to 6.5-7% in FY25
India’s GDP is likely to grow at 6.5 to 7 percent in the current fiscal year amid global challenges that may impact exports, said Economic Survey 2023-24 tabled in Parliament on Monday, a day before the Union Budget presentation in Lok Sabha. The growth projected for 2024-25 is lower than the economic growth rate of 8.2 percent estimated for the previous financial year.
The Reserve Bank has projected the GDP growth for the fiscal year ending March 2025 at 7.2 percent. Global agencies like IMF and ADB see India grow at 7 percent. “…The Survey conservatively projects a real GDP growth of 6.5 – 7 percent, with risks evenly balanced, cognizant of the fact that the market expectations are on the higher side,” said the document tabled by Finance Minister Nirmala Sitharaman in Parliament.
It said the domestic growth drivers have supported economic growth in 2023-24 despite uncertain global economic performance. Improved balance sheets will help the private sector cater to strong investment demand. The Survey also added a note of caution saying “Private capital formation after good growth in the last three years may turn slightly more cautious because of fears of cheaper imports from countries that have excess capacity”.
While merchandise exports are likely to increase with improving growth prospects in advanced economies, services exports are also likely to witness a further uptick. A normal rainfall forecast by the India Meteorological Department and the satisfactory spread of the southwest monsoon thus far are likely to improve the agriculture sector’s performance and support the revival of rural demand, it said. However, the monsoon season still has some way to go, the Survey said.
For all the latest updates, download PGurus App.
- India holds Pakistan responsible for Pahalgam attack; stops Indus Water talks, shuts Attari Check Post, halts issuing visas to Pakistanis - April 23, 2025
- Harvard sues Trump administration to stop the freeze of more than USD 2 billion in grants - April 22, 2025
- Google settles Android TV case with Competition Commission of India, pays Rs.20.24 crore - April 21, 2025
GDP grew, morality came down.
India should stop doing economic survey & perform morality survey across nations & within the nation and give its direction as to which way it wants to go i.e. aspiring for Nobel Prize or turning blind eye or continue to rely on peaceful community (traitors / drohis)
The world today lacks morality & speaking straight. Media getting sold like prostitutes. Prostitutes sell their body, but political parties & media people are selling their souls