FY25 likely to see 7% growth: Finance ministry ahead of Interim Budget
- IBEF
- January 30, 2024
The Finance Ministry's recent review of the economy projects a growth rate of approximately 7% for the Indian economy in FY25, marking the fourth consecutive year of robust growth post-pandemic. The outlook suggests a continuation of the resilient performance demonstrated by the Indian economy, with anticipated growth rates of 7% or higher.
The ministry's report, titled "The Indian Economy: A Review," emphasizes the potential and resilience of the Indian economy, signalling positive prospects for the future. However, it clarifies that this report is distinct from the customary Economic Survey, which will be presented after the Lok Sabha elections and preceding the full Budget. The National Statistical Office's First Advance Estimates forecast India's economy to expand by 7.3% in FY24, surpassing predictions by various national and international agencies. Authored by a team of economists led by Chief Economic Adviser Mr. V Anantha Nageswaran, the report highlights the considerable potential for the growth rate to surpass 7% by 2030, driven by structural reforms and the strength of the financial sector.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
