India’s GDP
Bad news has come for the Indian economy. The country’s gross domestic product (GDP) growth rate in the current financial year (2024-2025) is estimated to be 6.4 percent. In the last financial year, the country’s economy had grown at the rate of 8.2 percent. This information was given in the government data released on Tuesday. Releasing the first advance estimates of national income for the financial year 2024-25, the National Statistical Office (NSO) said that the real GDP is estimated to grow at the rate of 6.4 percent in this financial year. The provisional estimate of GDP growth for the financial year 2023-24 has been said to be 8.2 percent.
Lower estimate than RBI
NSO’s GDP growth estimate for the current financial year is lower than the Reserve Bank of India (RBI) estimate. RBI has projected GDP to grow at the rate of 6.6 percent in the financial year 2024-25. This is the slowest annual GDP growth rate since the Corona pandemic, when it fell to -5.8% during the year 2020-21.
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