Diabytes
GDP forecast News
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According to Economic Survey, the country's real gross domestic product (GDP) will grow at 6.5-7 per cent in 2024-25. However, the Reserve Bank of India estimates a higher 7.2 per cent for the current financial year.
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It had lowered the projection from 8.7% to 8% earlier in April, and it is currently expected to be 7.5 percent.
The GDP expansion compares to an 8.7% expansion in the prior fiscal year 2021-22.
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Government is open to the idea of going in for higher fiscal deficit to propel growth in the upcoming Budget and will take a balanced view after considering various factors, Chief Economic Adviser Arvind Subramanian said.
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This comes a day after Reserve Bank revised downwards its real GDP forecast for 2015-16 to 7.4 percent from earlier expectation of 7.6 percent, saying growth is expected to pick up in the latter part of the fiscal.
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