This optimistic outlook aligns with the Reserve Bank of India's (RBI) latest monetary policy report, which predicts a robust growth rate of 7.2 per cent for India in the fiscal year 2025.
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Real GDP has been estimated to grow by 8.2 per cent in FY 2023-24 as compared to the growth rate of 7.0 per cent in FY 2022-23
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The projection is cited to enhance activities in real estate, renewable energy, and semiconductors among other sectors.
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The adjustment comes as the global financial institution anticipates sustained growth momentum and increased fiscal space due to a higher-than-expected dividend transfer from the Reserve Bank of India (RBI)
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The rate of growth of India's gross domestic product varies across different agencies. How can the average taxpayer decode the implications of varying data points?
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