India's GDP to stay at 6.5% in FY25 & FY26 provided govt accelerates capex in rest of the year: EY
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The report highlighted key fiscal and economic measures that could sustain and boost this growth trajectory.
It said, «In the medium-term, India's real GDP growth prospects can be kept at 6.5 per cent per year provided the GoI accelerates its capital expenditure growth in the remaining part of the current fiscal year and comes up with a medium-term investment pipeline with participation from the Government of India and state governments»
A critical recommendation from the report is that the combined debt of the central and state governments should not exceed 60 per cent of the country's nominal GDP. This limit would require each level of government to cap their debt at 30 per cent of GDP.
«The combined debt-GDP ratio target should be retained at 60 per cent but divided equally between GoI and states at 30 per cent each,» it said.
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