India’s GDP growth unchanged at 7% for FY25 by IMF
IMF) has maintained India’s growth forecast at 7% for FY25, consistent with its July prediction, highlighting that the "pent-up demand" during the pandemic is diminishing as the economy returns to its potential.
It is 0.2 percentage points up from the April outlook. For FY26, the forecast stands at 6.5%.
The projection is higher compared to both advanced and emerging economies. The global economy is expected to slow to 3.2% in 2024 from 3.3% in the year before.
“In India, the outlook is for GDP growth to moderate from 8.2 percent in 2023 to 7 percent in 2024 and 6.5 percent in 2025, because pent-up demand accumulated during the pandemic has been exhausted, as the economy reconnects with its potential,” according to the World Economic Outlook released on October 22.
The Reserve Bank of India forecasted a growth of 7.2% due to strong domestic demand earlier this month. The World Bank has also projected an expansion of 7% for India FY25.
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