Economic Survey 2024-25: India’s Economy projects GDP growth of 6.4% for FY25

Presented today by Finance Minister Nirmala Sitharaman, the Economic Survey 2024-25 outlines a positive yet cautious outlook for India’s economy. The survey projects a steady real GDP growth of 6.4% for FY25, aligning with the country’s average growth rate over the past decade. This forecast comes at a time when the global economy faces uncertainty, with the International Monetary Fund (IMF) projecting a modest 3.2% growth worldwide over the next five years.

India’s economic resilience in the face of global challenges is largely attributed to strong domestic demand, especially in rural areas. Private consumption, a key driver of growth, is expected to increase by 7.3% in FY25. Alongside this, the Gross Value Added (GVA) across major sectors such as agriculture, industry, and services is projected to grow by 6.4%, contributing to a balanced and broad-based economic expansion.

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While global demand remains weak and manufacturing slowdowns persist in regions like Europe and Asia, India’s services sector continues to shine. Services exports surged by 12.8% from April to November 2024, demonstrating India’s competitive edge in global trade. With inflation under control and continued investments in infrastructure, India is expected to maintain a growth range of 6.3% to 6.8% in FY26.

The focus on structural reforms, deregulation, and strengthening domestic capabilities presents a hopeful outlook for India’s future. Despite the challenges on the global stage, India is set to remain a beacon of stability and growth.

Also read: Indian Industries Association (IIA) Announces Build Bharat Expo-2025: A New Platform for Global Trade and Industrial Innovation

Prateeksha Thakur

[Prateeksha Thakur] is a seasoned journalist known for [her] sharp analysis and clear communication. At Newsisland, [she] focus on political reporting, offering readers a nuanced understanding of complex issues.

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