GDP growth estimated to be 6.3% in the current financial year 2024-25, claims SBI research
SBI Research: According to the National Statistical Office (NSO), 'real' and 'nominal' GDP growth rates for 2024-25 are estimated to be 6.4 percent and 9.7 percent respectively. According to the report, the healthy rural economy is strengthening stability and maintaining momentum in other sectors. Let's know about this.
The gross domestic product (GDP) for the current fiscal year (2024-25) is likely to grow by about 6.3%. This is said by one of the reports by the State Bank of India (SBI). For the third quarter of the current fiscal year, the probable GDP growth is likely to fall somewhere between 6.2% and 6.3% due to the support from the 36 high-frequency indicators.
According to the National Statistical Office (NSO), 'real' and 'nominal' GDP for the year 2024-25 is set at 6.4% and 9.7% respectively. According to the report, the strong rural economy is gathering strength and support for the overall sector by building momentum. Domestic deceleration boosts increased discretionary consumption and fuels demand-led growth.
According to SBI research, capital expenditure is showing improvement in the third quarter of the current financial year. Geopolitical developments and supply chain constraints have affected not only India but also other countries in the third quarter of the calendar year 2024. According to the SBI report, India still remains one of the fastest-growing economies.
The recent International Monetary Fund (IMF) global growth estimate forecasts the growth rate for India for the current financial year 2024-25 and the next financial year 2025-26 at the level of 6.5% due to strong domestic demand and the intervention by the government.
