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.
Abhijit Banerjee, during an address at the Kolkata Literary Meet, also said the priority of the government should be on refinancing the banking sector, which is in 'doldrums'.
The labour productivity growth in the current financial year (FY19) is at 5.2 per cent.
Further, it has also cut the estimate for the next fiscal, FY 2020-21 to 6.5 per cent from 7.2 per cent.
Mamata Banerjee congratulates West Bengal for ranking first in GDP growth rate in India.
"The growth in GDP during 2018-19 is estimated at 7 per cent as compared to the growth rate of 7.2 per cent in 2017-18," said the official data released here on Thursday.
