India to remain fastest-growing large economy in next two fiscal years: World Bank

New York: World Bank predicted that India will remain  fastest-growing large economy for  next two fiscal years . The World Bank projects India’s economy to grow by 6.7 per cent in the next fiscal year starting in April. This is  slightly higher than in the current fiscal year.

The Word Bank’s Global Economic Prospects released estimated the current fiscal year’s growth rate at 6.5 per cent, down from the 8.2 per cent in the previous period. The World Bank projections for India’s GDP growth hew closely to the United Nations projections released last week — 6.6 per cent for this calendar year and 6.8 per cent for next year.

As per the latest FICCI Economic Outlook Survey, India’s GDP growth for 2024-25 is projected to be 6.4 per cent, a dip from the 7.0 per cent estimated in the previous survey conducted in September 2024.

According to the Ministry of Statistics and Programme Implementation too,  the economy is seen growing at 6.4 per cent this fiscal. BofA Securities India pegged India’s growth this fiscal at 6.5 per cent, while Acuité Ratings & Research and CareEdge Ratings predicted a GDP growth of 6.4 per cent and 6.5 per cent respectively.

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Nomura forecast a growth of 6.7 per cent this fiscal, while the Reserve Bank of India lowered the GDP forecast for FY25 to 6.6 per cent.

For the past three financial years, the economy grew 7 per cent. GDP growth came in at 9.7 per cent in FY22, 7 per cent in FY23, and 8.2 in FY24.