India’s Economic Outlook for 2024-2025
India’s economic landscape is currently under scrutiny as projections for the country’s GDP growth reveal a cautious yet hopeful outlook. According to Deloitte India’s latest Economic Outlook, the GDP is expected to grow between 6.5% and 6.8% for the fiscal year 2024-2025. This report comes amid a backdrop of global economic uncertainties and domestic challenges. While the Reserve Bank of India (RBI) has adjusted its growth forecast to 6.6%, the National Statistical Office (NSO) estimates a slightly lower growth rate of 6.4% for the current fiscal year.
As the nation grapples with these projections, it becomes crucial to understand the factors influencing this economic trajectory and the potential for sustainable growth.
Current Economic Performance and Projections
India’s GDP growth has shown signs of slowing down. In the second quarter of 2024-2025, the economy expanded by only 5.4% year-on-year, falling short of market expectations. This marks the second consecutive quarter of underperformance, as the April-June quarter
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