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Date: 01/07/2024

GDP seen at 7.5 pc in FY25, says NCAER

India’s economy may grow by close to 7.5% in 2024-25 on the back of a buoyancy in economic activity witnessed in the first quarter, a keen policy focus on investment and the expectations of a normal monsoon, said the National Council of Applied Economic Research (NCAER). High-frequency indicators showed that the domestic economy continues to remain resilient. The Purchasing Managers’ Index (PMI) for both manufacturing and services kept the expansionary momentum despite slowing down a bit in May. Besides, growth in the Index of Industrial Production (IIP) for core industries accelerated in April 2024; Goods and Services Tax (GST) collections remained buoyant year-on-year; bank credit growth remained above 20% despite some deceleration in personal credit growth; and expectations of above normal monsoon despite deficient rainfall in June held out strongly for the farm sector, said a report.
 
source: Exim News Service: New Delhi, June 30



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