Tuesday, July 16, 2024
spot_img

Fitch raises India’s GDP growth forecast for FY25 to 7.2 pc

Date:

Share post:

spot_img
spot_img

 

New Delhi, June 18: Global rating agency Fitch on Tuesday raised India’s GDP growth forecast for FY25 to 7.2 per cent, from 7 per cent.

The rating agency said in its report that recovery in consumer spending and increasing investment trends are the main factors for this update.

Fitch said in its global outlook report, “We expect the Indian economy to grow by a strong 7.2 per cent in FY25.”

The estimate released by Fitch states that the Indian economy may grow at 6.5 per cent and 6.2 per cent in FY26 and FY27 respectively.

The rating agency said in its outlook, “Investments will continue to rise but it will be slow in comparison to recent quarters while consumer spending will recover with elevated consumer confidence.”

The rating agency says that the retail inflation rate may come down to 4.5 per cent at the end of this year. It is estimated to be 4.3 per cent in 2025 and 2026.

Earlier, the World Bank raised India’s GDP growth forecast to 6.6 per cent from 6.4 per cent.

–IANS

avs/uk

spot_img
spot_img

Related articles

Ukrainian startups create low-cost robots to fight Russia

Ukraine, July 15: Struggling with manpower shortages, overwhelming odds and uneven international assistance, Ukraine hopes to find a...

National Nuggets

Man stuck inside lift for 2 days, rescued Thiruvananthapuram, July 15: A 59-year-old man was stuck in a lift...

‘Centre mulling restriction of govt schemes on couples with over 2 kids’

New Delhi, July 15: Rajasthan Minister Jhabar Singh Kharra on Monday spotlighted the impact of the burgeoning population...

3 held for waving Palestinian flag

New Delhi, July 15: Muharram processions were taken out by the Shia community across the country on Monday...