OECD has also upwardly revised India's GDP growth by 10 basis points and has pegged at 6.7 per cent in 2024-25 and by 20 basis points for 2025-26 at 6.8 per cent
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The report is optimistic about new employment-linked incentives to the workers and firms, the policy does have the potential to increase labour demand and support job creation beginning FY2025
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According to the report, this shift in economic patterns, with consumption gaining a more prominent role, raises concerns about the long-term buoyancy of the Indian economy
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S&P Global concludes that with the highest proportion of positive credit outlooks in the region, India's corporate sector is well-positioned for continued credit quality improvement
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Industries such as Capital Markets, Software and Platforms, Banking, Insurance and Retail are expected to see the biggest changes globally, with automation or augmentation affecting 49 per cent to 71 per cent of working hours
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This contribution translates to a revenue forecast of approximately USD 121 billion
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The industry body said that the median growth forecast for agriculture and allied activities will likely be at 3.7 per cent for 2024-25
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According to the data released by by the Union Ministry of Finance, Net Direct Tax collections for FY 2024-25 have also seen significant growth, registering a 20.99 per cent increase to Rs. 4,62,664 crore
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The US ratings agency has projected growth of China to slow down at 4.5 per cent due to declining exports and reduced government spending.
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Agriculture and services sectors see strong CII growth projections for FY25
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