New Delhi, 30 May (IANS). Chief Economist, Dr. Manoranjan Sharma, at the Infamerix ratings, said on Friday that the fourth quarter GDP growth figures of FY 25 have been better than expected and the country’s economy could grow at a rate of 6.3 percent in the current financial year.
Talking to the news agency IANS, Dr. Manoranjan Sharma said, “We had our own assessment that the fourth quarter growth rate of FY 25 will be 6.9 percent, but in fact it has been 7.4 percent, which is more than expected.”
He further said that the country’s economy is growing firmly amidst global challenges and these figures show the strength of India’s economy. Also said that we are growing fastest among the big economies of the world.
Economist said, “Manufacturing, construction, professional services, public administration and defense have increased well in the fourth quarter of FY 25, but private consumption and government’s final consumption has seen a decline after two quarters.”
He further said, “We estimate that the growth rate in FY 2025-26 can be at 6.3 percent. RBI has also estimated the growth rate of 6.5 percent for the current financial year.”
According to data released by the government, India’s GDP growth rate has increased to 7.4 percent in the fourth quarter (January-March) of FY 2024-25. It was 6.2 percent in the third quarter of FY 25. The reason for this is to perform strong performance of agriculture, construction and services sector.
The economic growth rate of the entire financial year 2024-25 has been 6.5 percent.
The growth rate of the agricultural sector was 4.6 percent during the financial year 2024-25, which was 2.7 percent in FY 2023-24. During the fourth quarter of FY 2024-25, the growth rate of the agricultural sector increased to 5 percent compared to 0.8 percent of the fourth quarter of the previous financial year.
The growth rate of the construction sector is estimated to be 9.4 percent in FY 2024-25. After this, the growth rate of public administration, defense and other services sector is estimated to be 8.9 percent and the growth rate of financial, real estate and professional services sector is estimated to be 7.2 percent.
-IANS
ABS/
