The State Bank of India in a report projects that India's real GDP will grow by 7.0 per cent year-on-year in FY25, which is slightly lower than the RBI's forecast of 7.2 per cent.
At the post-monetary policy press briefing, RBI Governor Shaktikanta Das said that GDP growth figures in the US are doing well and it was not right to rush to a conclusion that the country was slowly slipping into recession.
Das added, "Assuming a normal monsoon and taking into account the 4.9 per cent inflation print, Q1 CPI inflation for the current financial year (2024-25) is projected at 4.5 per cent, with q2 at 4.4 per cent, Q3 at 4.7 per cent and Q4 at 4.3 per cent. CPI inflation for the first quarter of n
Launching a scathing attack on former Finance Minister P Chidambaram, Commerce and Industry Minister Piyush Goyal on Tuesday highlighted the worsening condition of the economy under the UPA-led government.
"We believe that it (fiscal deficit) should be achievable as the government's assumption of 10.5 per cent nominal GDP growth in 2024-25 is modestly below our current forecast. We think the government should also be able to achieve its goal of reducing the deficit below 4.5 per cent of GDP in
"... Last year our GDP growth rate was around 6.5%, and this time as well, the economic survey suggests around 7% growth rate... In the coming time, our GDP growth rate will become even better...," Pitti said speaking to ANI on Monday.
The Economic Survey tabled in Parliament conservatively projects India's real GDP growth of 6.5-7 per cent, cognizant of the fact that market expectations are on the higher side.
The Survey projects achievable GDP growth for FY25, driven by robust macroeconomic management and a supportive policy environment emphasizing capital expenditure and inflation control.
This growth rate marked a slowdown from the 5.3 per cent growth observed in the first quarter. Additionally, June's retail sales saw an increase of 2 per cent, falling short of the expected 3.3 per cent growth.