India expects FY25 growth of more than 7%, chief economic adviser says
India needs 8-10% growth over next decade to reap demographic dividend: RBI However, April's RBI bulletin warned that extreme weather events and prolonged geopolitical tensions could lead to volatile crude oil prices and pose inflation risks. In an event hosted by the National Council of Applied Economic Research in New Delhi, the CEA said, "The omens are good for us to continue the steady growth rate".
Why vegetable prices are burning a hole in your wallet The CEA added that India’s monetary policy committee is mandated to keep inflation within a target range of 2% to 6% and the central bank, the Reserve Bank of India, wants to see it at 4% before cutting rates. Nageswaran said the Indian economy was better placed than before to pursue "non-inflationary" growth.
India’s services sector is still booming, but signs of weakness are visible Last month, the RBI in an article titled ‘State of the Economy' said conditions are shaping up for a sustained increase in real GDP growth, which has averaged over 8% between 2021 and 2024. RBI deputy governor Michael Patra recently said that India can achieve a growth rate of 10% in the next decade and become the second-largest economy by 2032 and the largest by 2050.
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