Budget 2025: A close look at India’s GDP growth rate before Sitharaman's key announcements in Lok Sabha
GDP) growth remains a central focus in economic discussions. Budget 2025 will be the second budget to be presented by Sitharaman during her second tenure as the finance minister in the PM Modi-led central government.
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India’s Q2 GDP growth, which slowed more than anticipated to 5.4%, raised alarms among economists, confirming fears that the country’s once-booming economy is losing momentum. The slowdown, a seven-quarter low, marked a significant decline from 8.1% in the same period last year and from 6.7% in the previous quarter.
Falling wages, slumping company profits, and persistent inflation are all contributing to the deceleration in economic activity.
The slump in second quarter’s growth was largely due to weaker manufacturing, mining and electricity and gas production. Agriculture sector showed improvement due to above-average rainfall, boosting farm incomes.
Despite the shocking slowdown, economists expect a pick-up in growth in the second half of the financial year. Aditi Nayar of ICRA Ltd. said that while the outlook for the next few months is “decidedly mixed,” government spending and revival in rural consumption will lift sentiment, “resulting in a full-year expansion of 6.5%-6.7%.”
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