S&P Global Ratings has lowered the US GDP forecast for 2025, sharply by 50 basis points to 1.5 per cent, while raising its inflation forecast. For 2026, the US growth projection has been lowered by 20 basis points to 1.7 per cent.
The State Bank of India (SBI) has revised its forecast for India's GDP growth in FY25 to 6.3 per cent, slightly lower than the National Statistical Office's (NSO) estimate of 6.4 per cent.
The downward revision from the rating agency came soon after the Reserve Bank in its latest monetary policy cut growth forecast to 6.6 per cent from 7.2 per cent.
The Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 6.5 per cent for the 11th consecutive time, marking a continuation of its neutral monetary policy stance. The RBI downwardly revised GDP forecast for 2024-25 to 6.6 per cent from 7.2 per cent earlier.
S&P Global Ratings on Monday retained India's GDP forecast for the current financial year 2024-25 at 6.8 per cent while cutting economic growth forecasts for the next two years.
Out of the 25 economists who provided full-year growth forecasts in the previous quarterly survey, 16 of those lowered their predictions, while nine maintained the same expectations. However, the overall range of growth predictions over the Chinese shifted downward.
Lee Chee Koon, Group Chief Executive Officer, CLI said, "India is a strategic market for us and a key contributor to CLI's overall business. India has been one of our fastest-growing markets, where our investments have tripled in the last seven years. With India's GDP forecasted to grow 7 pe
The S&P Global Market Intelligence has upwardly revised GDP forecasts for China in its latest report. But even with the revised forecast, China's GDP growth will be substantially lower than that of India.
The RBI has revised the GDP forecast for the current FY 24-25 to 7.2 per cent from 7 per cent earlier, and the CPI inflation is projected at 4.5 per cent.
The revised GDP estimate reflects an upward revision from Moody's earlier projection of 6.1 per cent, indicating a more favorable outlook for India's economic performance in the coming years.
The Indian economy is projected to grow at 6.3 per cent in the current financial year and the next, the International Monetary Fund (IMF) said in a report.