CRISIL forecasted India's GDP to stood at 6.8 percent for FY25
According to the CRISIL Ratings, after a better-than-expected 7.6% expansion this fiscal, India’s real gross domestic product (GDP) growth will moderate to 6.8% in fiscal 2025 as higher interest rates and lower fiscal impulse temper demand.
![CRISIL forecasted India's GDP to stood at 6.8 percent for FY25](https://www.psuconnect.in/sdsdsd/crisil_forecasted_india_gdp.jpg)
The fiscal impulse will be unnoticeable because of the need to reduce the fiscal deficit to 5.1% of GDP next fiscal according to the glide path presaged. However, the nature of government spending will provide some support to the investment cycle and rural incomes.
Inflation softened this fiscal due to easing input costs and slower domestic demand, but elevated food inflation curbed a bigger decline in the headline number. We expect the softening to continue next fiscal on the back of healthier agriculture output that tames food inflation, and benign oil and commodity prices.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYGrowth momentum will continue through this decade, with significant private investments in emerging sectors, continuing government spending on infrastructure buildout, ongoing reforms push, and efficiency gains from increasing digitalization and physical connectivity.
The next seven fiscals will expect the Indian economy to cross the $5 trillion mark and reach $7 trillion at an estimated 6.7% average annual growth. By fiscal 2031, India will be the third largest economy and an upper middle-income country, which will be a big positive for domestic consumption. India’s manufacturing sector is in a modernizing mode due to high capacity utilization across key sectors, opportunities from global supply-chain diversification, thrust on infrastructure investment, the green-transition imperative, and strong balance sheets of lenders. Continuous reforms enhanced global competitiveness, and moving up the value chain will boost the share of manufacturing in India’s GDP beyond the projected 20% in fiscal 2031.”
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail depositsNews Must Read
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh