Business News: India GDP Growth Forecast Raised by World Bank to 7%

Tuesday, 3 September 2024, 00:04

Business news highlights the World Bank's upward revision of India's GDP growth to 7% for FY25. This marks a positive shift from the previous estimate of 6.6%. With strong economic indicators, India's economy is set to maintain its position as the fastest-growing major economy globally.
Indiatimes
Business News: India GDP Growth Forecast Raised by World Bank to 7%

World Bank's Positive Outlook on Indian Economy

The World Bank has provided encouraging business news, revising India's GDP growth forecast for FY25 to 7%, up from 6.6%. This adjustment is driven by recent data showing a 6.7% growth rate in the first quarter of FY 2024-25, despite challenges related to government expenditure during national elections.

Factors Supporting GDP Growth in India

  • Reduced Inflation: Declining inflation is expected to support economic recovery.
  • Increased Government Spending: Heightened government spending is likely to stimulate growth.
  • Gross Value Added (GVA): GVA registered a strong growth of 6.8% in the April-June quarter.

Moody's Revision Supports Positive Projections

Echoing the World Bank's optimism, Moody's also revised its growth forecasts, predicting a GDP growth of 7.2% in 2024 and 6.6% in 2025, up from earlier estimates. This suggests strengthening rural demand plays a crucial role in India's economic resilience.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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