Mumbai: International rating agency, Fitch today raised India’s GDP growth forecast for FY25. The rating agency increased India’s GDP growth forecast to 7.2 per cent from 7 per cent.
Fitch said in its report that recovery in consumer spending and increasing investment trends are the main factors for this update. Fitch in its global outlook report, said that the Indian economy may grow at 6.5 per cent and 6.2 per cent in FY26 and FY27 respectively.
The rating agency says that the retail inflation rate may come down to 4.5 per cent at the end of this year. It is estimated to be 4.3 per cent in 2025 and 2026.
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Earlier, the World Bank raised India’s GDP growth forecast to 6.6 per cent from 6.4 per cent. Earlier the Reserve Bank of India (RBI) has projected the real GDP growth for 2024-25 at 7.0 per cent.RBI retained the GDP growth projection at 7 per cent for 2024-25 fiscal on the back of expectations of a normal monsoon, moderating inflationary pressures, and sustained momentum in the manufacturing and services sectors. In its April monetary policy, RBI said that the real GDP growth for 2024-25 is projected at 7 percent with Q1 at 7.1 percent; Q2 at 6.9 percent; Q3 at 7 percent; and Q4 at 7 percent.
Earlier, S&P Global ratings hiked the outlook for India from stable to positive on Wednesday. In its recent projections about India’s growth, the International Monetary Fund (IMF) anticipated the rate to stay at 6.8 per cent for 2024-25.
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