New Delhi: The State Bank of India (SBI) has estimated GDP growth during the current financial year (2024-25) to be 6.3 per cent. A research report published by SBI revealed this. The report said that leveraging 36 high-frequency indicators, the estimated GDP growth for the third quarter of the current financial year should be between 6.2 per cent and 6.3 per cent.
According to the National Statistics Office (NSO), the real and nominal GDP growth rates for 2024-25 are projected at 6.4 per cent and 9.7 per cent, respectively.
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A recent IMF global growth forecast has estimated India’s growth to be at 6.5 per cent for both the current financial year, and subsequent fiscal on the back of robust domestic demand and policy interventions by the government.
Meanwhile, international rating agency, ICRA projected India’s GDP to grow 6.4 per cent in the December quarter. ICRA has projected the economy to grow at 6.4 per cent in Q3 from 5.4 per cent in Q2. This projections is based on account of enhanced government spending amid uneven consumption. The Indian economy grew at 6.7 per cent in April-June, but it slowed to a seven-quarter low of 5.4 per cent in September quarter.
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