New Delhi, 6 July (IANS). The size of the Indian economy has increased trick in the last decade due to strong base and continuous good performance, to Rs 331.03 lakh crore in FY 2024-25, which was Rs 106.57 lakh crore in FY 2014-15. This information was given in the official data released on Sunday.
Official data stated that India’s economy increased at a rate of 6.5 percent in FY 2024-25, the highest globally.
The country’s economy is growing at a time when other major economies of the world are struggling for development.
The Reserve Bank of India hopes that this pace will also continue in 2025-26. Other estimates also repeat the same optimism, the United Nations has estimated an increase of 6.3 percent this year and 6.4 percent next year, while the Confederation of the Indian Industry (CII) has kept its estimate at a slightly higher 6.4 to 6.7 percent.
The statement issued by the government said that this continuous performance is inspired by strong domestic demand. Rural consumption has accelerated, urban expenses are increasing, and private investment is accelerating. Businesses are expanding capacity, many of which are operating close to their maximum production level.
Also, public investment remains particularly high level in infrastructure, while stable borrowing conditions are helping firms and consumers make visionary decisions.
The statement further stated that on the contrary global conditions remain delicate. The United Nations has described the world economy in a “period of uncertainty”, citing trade tension, policy uncertainties and declining border investment. Despite this, India is emerging as a bright place, global institutions and industry bodies have expressed confidence in its possibilities of development.
-IANS
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