India growth forecast News

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. 

In its report titled — Global Macro Outlook 2020-21 (April 2020 update), Moody’s has lowered G-20 advanced economies as a group to contract by 5.8 per cent in 2020. 

India is maintaining growth momentum on rebounding exports and higher industrial and agricultural output, ADB said in its Asian Development Bank Outlook Supplement.

It also lowered the country's growth for 2018 to 7.4 per cent, 0.3 percentage points less than its previous two projections in July and April.

There are downside risks to the Indian government`s growth forecast of 6.75-7.5 percent for the fiscal year to March 2018.

Inflation is projected to reach 5.3-5.5 percent in 2017 and 2018, which is somewhat above the official target of 4.5-5 percent.

India is growing faster than most emerging market peers and the country is expected to clock a GDP growth of 7.4 percent this fiscal, a Bank of America Merill Lynch report says.

Moody's also lowered growth forecasts for many Asia Pacific (APAC) sovereigns, citing that subdued global growth, exacerbated by weaker demand from China.

Saying that India's growth outlook is resilient beyond short-term monsoon effects, Moody's has retained growth forecast for 2016 at 7.5 percent.

OECD Secretary-General Angel Gurria said a number of business-friendly measures have been adopted over the past few months in India.