GDP) growth for FY26 is projected to be 6.3-6.8 per cent, according to the Economic Survey 2024-25. The forecast suggests economic conditions will remain sluggish next year.
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A weaker manufacturing sector and slower corporate investments are seen dragging India's growth to 6.4% in 2024-25, the slowest pace in four years and a sharp decline from the growth recorded in FY24.
India's GDP grew by an impressive 8.2 per cent during the financial year 2023-24, and continued to be the fastest-growing major economy. The economy grew by 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22.
Concerns about the world’s fifth-largest economy had been mounting for a while, as India's economic growth slowed to a seven-quarter low of 5.4% in the second quarter of FY25, down from 8.1% in the same period last year and 6.7% in the previous quarter.
Business spending has slowed, consumers have cut back as inflation remained high and wages slid, while corporate profits have taken a hit.
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