India likely to grow at slower clip of 6.4%, say First Advance Estimates for FY25
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Economists said the government should take measures in the February 1 budget to spur growth, following the sharp deceleration from the robust 8.2% expansion in gross domestic product (GDP) in FY24.
The first advance estimates for GDP pegged FY25 growth below the Reserve Bank of India's (RBI) projection of 6.6%. The central bank will face greater pressure to cut rates to boost growth, economists said. The RBI Monetary Policy Committee meets next on February 5-7.
The World Bank and International Monetary Fund (IMF) have projected the Indian economy to grow by 7%.
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