A report has been published on what India's GDP growth could be in the current financial year. This information was released by the Central Statistics Ministry on Wednesday. It states that the Indian economy will grow by 7.4 per cent in the current financial year. Despite global growth slowdown, geopolitical instability, and Trump's tariff threats, there is no decline in the growth of the world's third-largest economy. This is what the report indicates.
The GDP growth forecast for the current financial year has even surpassed the Reserve Bank's estimate. The RBI had stated that India's GDP growth could be 7.3 per cent, which is higher than last year's growth (6.5 per cent). Additionally, the Statistics Ministry's recent report says that nominal GDP growth in the current financial year could be 8 per cent. It is learned that the Union Budget for the next financial year may be prepared based on this data.
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Along with overall economic growth, the report also provides forecasts for growth in various important sectors. It states that manufacturing output could grow by 7 per cent, which will be higher than last time (4.5 per cent). Construction could also grow at a rate of 7 per cent, which may be lower compared to the last financial year (9.4 per cent). The household economy is one of the major pillars of the Indian economy. Its growth could also be at a rate of 7 per cent, as mentioned in the report. Factory building growth could be 7.8 per cent. Government spending could increase by 5.2 per cent.
In the last two financial years, India's economic growth has been 6.5 per cent and 8.2 per cent, respectively.
