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Date: 16/10/2024

GDP to grow at 6.95 pc in FY25, says CMIE

India’s GDP is expected to grow at 6.95% in the current financial year, which is about 25 basis points (bps) lower than the Reserve Bank of India’s (RBI) forecast, according to a note by the Centre for Monitoring Indian Economy (CMIE). Broadly, expectations are seen moderating as some forecasters caution about inflation, public spending and industrial growth. Meanwhile, the expectations of others ride high on consumption demand and the government’s fiscal discipline. Forecasts by 10 agencies during September and early October indicate a slightly lower growth expectation (median: 6.78%) than those made earlier. Forecasts made during July-August converged to a slightly higher median expectation of 7%. India’s economy grew by 6.7% in the first quarter of the current fiscal year. The RBI has projected GDP growth of 7% in Q2 FY25, 7.4% in Q3 and 7.4% in Q4, as per a report.
 
Source: Exim News Service: New Delhi, Oct. 15



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