Description

The World Bank has lowered India's GDP growth prediction for FY25 to 6.6%, showing a moderate but consistent growth rate. Despite the anticipated slowdown, India's strong economic activity is likely to underpin growth in South Asia, exceeding other emerging market and developing nations.

Projections And Estimates

• The World Bank boosted its FY25 growth prediction to 6.6%, a small rise of 20 basis points.

• GDP for FY24 is expected to be 7.5%, indicating strong economic performance.

Growth Drivers And Outlook

• Strong public investment is likely to generate dividends over the next decade, boosting growth.

• Construction and real estate activity are expected to underpin significant growth in the services and industrial sectors.

Inflation And Policy Implications

• The anticipated weakening of inflationary pressures makes leeway for relaxing financial conditions.

• The medium-term projection predicts a decrease in the fiscal deficit and government debt, supported by strong economic growth and consolidation initiatives.

This research, published in the World Bank's South Asia Development Update for April 2024, emphasizes India's resilience in the face of global economic changes as well as the region's potential for long-term prosperity.

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