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Tag: India GDP

RBI pegs India’s 2024-25 real GDP growth at 7%

The GDP growth rate for the upcoming fiscal year 2024–25 was assessed by the Reserve Bank of India (RBI) on Thursday at 7%, a figure that is less than the 7.3 % estimate for the current fiscal year.

Governor of the RBI Shaktikanta Das stated that the investment cycle is gaining speed as a result of higher capital expenditure, rural demand is still improving, and urban consumption is still strong when announcing the bi-monthly monetary policy.

He said that improvements are also being seen in private investment. The gross domestic product (GDP) growth rate for the fiscal year 2024–2025 is projected to be 7%. In the quarters ending in June and September, the GDP will expand by 7.2 percent and 6.8 percent, respectively. On the other hand, estimates for the December and March quarters are 6.9 percent and 7%, respectively.

India’s GDP reached the figure of $ 3.75 trillion, Finance Minister Nirmala Sitharaman gave information

On Monday, India’s gross domestic product (GDP) surpassed $3.75 trillion. In 2023, leading growth indicators are projected to reach $3.75 trillion, up from $2 trillion in 2014. The office of Union Finance Minister Nirmala Sitharaman tweeted to clarify this.

India’s economy is ranked as the fifth largest in the world, according to the Finance Ministry. India’s gross domestic product (GDP) is just slightly less than the US ($26,854 billion), China’s ($19,374 billion), and Germany’s ($4,309 billion) in terms of current value.

In the meantime, rating firm Moody’s predicted on Sunday that the Indian economy would expand by 6 to 6.3% in the June quarter.

https://twitter.com/nsitharamanoffc/status/1668105883325435904

Asian Development Bank estimates, India’s GDP growth will be 7.5 percent in FY 2023

While there is a war currently going on between Russia and Ukraine, and there is increasing pressure on the global economy as a result of this conflict, rating agencies have cut India’s growth rate.

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Asia Development Bank (ADB) has estimated that India’s growth rate is 7.5 percent in its report. The ADB published its report and estimated India’s GDP to be 7.5 percent for 2022-23.

ADB has projected a 7 percent growth rate for economies in South Asia. Indian economy is the largest and most significant in Asia. India’s GDP is expected to grow by 7.5 percent this year, but it is expected to grow at an 8 percent rate in the next year, according to its ADO report.

In addition to India, ADO addresses Pakistan in its report, where a growth rate of up to four percent is predicted for the current fiscal year.

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