International Monetary Fund (IMF): The IMF has raised India’s GDP growth forecast to 6.8% for FY 2025 from a previous estimate of 6.5%. This adjustment is on the lines of continuous economic momentum henceforth.
Dania Electra
Asian Development Bank (ADB): The bank maintains its forecast for FY2024-25 at 7.0% with strong agricultural output and increased government expenditures as key references.
Moody’s Investors Service: Boosting up the forecast to 6.8% for the year 2024 is attributed to strong demand momentum and government headline spending.
Fortune India
🔍 Sectoral Performance
The Agriculture Sector has clouded a high performance in terms of output due to favorable monsoon conditions which also reflect on rural demand.
Manufacturing: The manufacturing sector grew with a steady pace due to government initiatives and increased capital expenditure.
Services: The IT and business services particularly of the service sector continue to be weighty contributions to GDP.
⚠️ Challenges and Risks
Inflation: Though the level of inflation comes down, volatility in food prices remains to threaten consumer spending.
Global Economic Conditions: Uncertainties rock the global economy along with the dynamics of trade which may have an impact on export growth and investment inflows.
Fiscal Deficit: The requisite measures balancing the fiscal spending with revenues are very important for economic stability.
🧭 Outlook
India’s economy will grow somewhere between 6.8% and 7.0% in 2025. Infrastructure development by the government, stimulation of demand from rural areas, and promotion of exports will, however, support this growth trajectory. Inflation control and global economic factors must be given attention, too, to keep the momentum alive.
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