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Date: 27/09/2024

India’s GDP seen at 6.8 pc in FY25: S&P

S&P Global Ratings maintained India’s growth forecast at 6.8 per cent while noting that the Reserve Bank of India (RBI) may cut interest rates in October. In its economic outlook for the Asia-Pacific region, S&P also retained its gross domestic product (GDP) growth forecast for the financial year 2025-26 (FY26) at 6.9 per cent. In FY24, India’s economic growth rate reached an impressive 8.2 per cent. It noted that India’s strong growth would help the RBI manage inflation. S&P also emphasised the Centre’s focus on fiscal consolidation, as outlined by Finance Minister Ms Nirmala Sitharaman in the July Budget. The budget allocated a total of Rs 11.11 trillion for capital expenditure. The Centre has set a target to bring down the fiscal deficit below 4.5 per cent of GDP by FY26, as per a report.
 
Source: Exim News Service: London, Sept. 26
 



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