Deloitte projects 6.6% GDP growth for FY25
Cites reasons of consumption expenditure, exports rebound and capital flows
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India will likely see improved capital flows and a rebound in exports -- Rumki Majumdar, Economist at Deloitte India
New Delhi: Deloitte India on Friday said it estimates India’s GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India’s economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
Deloitte has revised India’s economic growth prediction for last fiscal to a range of 7.6 to 7.8 per cent. In January, the firm had projected growth for 2023-24 fiscal in the range of 6.9-7.2 per cent. The country’s GDP growth is estimated to reach 6.75 per cent in the year after.
NIPFP pegs India’s FY25 GDP growth at 7.1%
Economic think-tank National Institute of Public Finance and Policy (NIPFP) on Friday said it has estimated India’s GDP growth at 7.1 per cent for the current fiscal, using high-frequency models.
