New Delhi: International rating agency, S&P Global Ratings retained India’s GDP growth forecast for the current financial year. The global agency retained the GDP growth forecast at 6.8 per cent. In its economic outlook for Asia Pacific, S&P Global Ratings said India’s economic growth continues to surprise on the upside with the economy growing 8.2 per cent in fiscal year 2023-24.
‘We expect growth to moderate to 6.8 per cent this fiscal year, with high interest rates and lower fiscal spur tempering demand in the non-agricultural sectors,’ it said. For the fiscal years 2025-26 and 2026-27, S&P projected growth rates of 6.9 per cent and 7 per cent, respectively.
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Earlier this month, Reserve Bank of India (RBI), projected the Indian economy to expand at 7.2 per cent in the current fiscal. While another rating agency Fitch estimates India’s growth at 7.2 per cent in FY’25, the Asian Development Bank (ADB) estimates India’s GDP to grow at 7 per cent. Moody’s Ratings and Deloitte India estimates India’s GDP to grow at 6.6 per cent in 2024-25 fiscal, while Morgan Stanley projects growth rate of 6.8 per cent.
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