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Date: 02/08/2024

GDP to expand by 7.5 pc in FY25: Ind-Ra
India’s GDP growth forecast for the current fiscal has been revised upwards to 7.5 per cent from the 7.1 per cent projected earlier on the expectation of improved consumption demand, according to India Ratings & Research (Ind-Ra). It said the ongoing growth momentum led by government capex, deleveraged balance sheets of corporates/banks, and incipient private corporate capex cycle has now found support from the Union Government Budget. The Budget promises to bolster agricultural/rural spending, improve credit delivery to MSMEs and incentivise employment creation in the economy. Ind-Ra’s growth projection is higher than that of RBI which projected FY25 growth at 7.2 per cent, and the Finance Ministry’s Economic Survey which estimated GDP expansion between 6.5-7 per cent. Ind-Ra expects Private Final Consumption Expenditure (PFCE) to grow to a 3-year high of 7.4 per cent in FY25, from 4 per cent in FY24, as per a report.
 
Source: Exim News Service: New Delhi, Aug. 1
 



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