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Date: 29/10/2024

GDP growth seen at 6.9-7.1 pc for FY25: NIPFP

On account of the sharp contraction in net exports as well as government consumption due to the model code of conduct, the New Delhi-based think tank National Institute of Public Finance and Policy (NIPFP) has revised its growth forecast for India downwards to 6.9-7.1% in its mid-year review. The review further noted that the rate of expansion in the economy is back to the high growth trend of 7-8% observed prior to the slowdown since 2017-18. A pick-up in private consumption and investment is likely to maintain the growth momentum. It also noted that supply-side growth remains tepid in tourism, travel and financial services with the latest August index of industrial production (IIP) data showing a slowdown in construction, capital goods and consumer durables and a contraction in mining and electricity, as per a report.
 
Source: Exim News Service: New Delhi, Oct. 28



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