India’s annual GDP growth projected to be between 7-7.2 pc in FY25: Deloitte
Dr. Rumki Majumdar from Deloitte India said that India’s economy is emerging with resilience as the dust settles after a high-stakes elections period.
Dr. Rumki Majumdar from Deloitte India said that India’s economy is emerging with resilience as the dust settles after a high-stakes elections period.
India’s economic performance in the April-June quarter, though slightly below expectations, continues to demonstrate the resilience that has positioned it as the world’s fastest-growing major economy. With a GDP growth of 6.7 per cent year-on-year, India outpaced China’s 4.7 per cent growth during the same period.
As China’s rubber-stamp parliament convenes in Beijing, the world watches with a mix of anticipation and concern, dissecting the economic roadmaps and power dynamics laid bare in the highstakes political theatre.
Real GDP is estimated to attain a level of Rs 171.79 lakh crore, as against the Provisional Estimate of GDP for the year 2022-23 of Rs 160.06 lakh crore, released on 31 May, 2023.
Modi reiterated that India’s growth story is based on the government’s top priority to policy, good governance and the welfare of the citizens.
1. Governor Das said that the Reserve Bank of India (RBI) expects country’s real GDP growth rate for the first half of FY21 to remain in the negative territory. 2. The MPC expects elevated inflation levels during the second quarter but may ease in the second half of the current fiscal year.
An economist poll conducted by Reuters had pegged GDP growth at 2.1 per cent in the last quarter of FY 2019-20.
1. According to the SBI's research report Ecowrap - the gross domestic product (GDP) growth is likely to be 4.2 per cent for FY20 and (-) 6.8 per cent for FY21. 2. The report further said COVID-19 cases in the country could peak anytime in the last week of June.
The outlook of inflation also remains "highly uncertain", RBI Governor Shaktikanta Das said while announcing a 40-basis point cut in the repo rate as part of the monetary measures to deal with the current crisis.
In its update on Global Macro Outlook, Moody's said India's economy has decelerated rapidly over the last two years and expects economic recovery to begin in the current quarter.
