World Bank ups India growth forecast to 7% for FY25

Date:

The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent for the current fiscal year on the back of recovery in agri sector and rural demand.

World Bank had in June projected India to grow at 6.6 per cent for FY24.

According to the World Bank Report released on Tuesday, India’s growth continues to be strong despite a challenging global environment.

Improvement in monsoon and private consumption have led to revising the India gross domestic product (GDP) forecast, said World Bank senior Economist Ran Li.

The growth rate of India, which accounts for the bulk of the South Asia region, is expected to remain strong at 7 per cent in 2024-25, the World Bank said in the India Development Update.

Recovery in agriculture will partially offset a marginal moderation in industry, it said, adding that services will remain robust.

Rural private consumption will recover, thanks to the expected recovery in agriculture, the World Bank said.

Share post:

Popular

More like this
Related

Ex-Super Falcon says Fifa putting money ‘over humanity’

In 2018, UN Climate Change launched its Sports for...

Mohammad Abbas matches Imran Khan’s record in first-class cricket | Cricket News – Times of India

Mohammad Abbas (Photo by Shaun Roy/Getty Images) NEW...

Fantasy Football Week 12 Start ‘Em, Sit ‘Em

Set your Week 12 lineups with Dalton Del Don's...

AbbVie Jumps 4% On An Upgrade Despite Bristol-Tied Setback

AbbVie (ABBV) stock popped Friday after an analyst upgraded...