New Delhi:
Regarding the Indian economy, economists say that despite the slowdown in real GDP growth, per capita nominal GDP in India is expected to grow rapidly in FY 2025, which will be at least Rs 35,000 more than in FY 2023. The first advance estimate (AE) of GDP for FY 2025 by the National Statistical Office (NSO) shows 6.4 percent GDP growth.
Gross value added (GVA) growth is also estimated at 6.4 percent. Nominal GDP growth is expected to remain stable, increasing by 9.7 percent in FY 2025. Which was 9.6 percent in the financial year 2024.
GDP growth rate is estimated to be 6.3% in financial year 2025
Dr. Ghosh said, “Due to strong policy measures and fiscal formalization as well as creation of physical public infrastructure, agriculture and allied activities are expected to grow by 3.8 percent in FY 2025 as compared to 1.4 percent growth in the previous year.” There is a possibility.”
Service sector likely to grow by 7.2% in fiscal year 2025
On the other hand, the services sector is likely to grow by 7.2 per cent in FY2025, compared to 7.6 per cent in FY2024. Sectors that have contributed positively include government consumption, which is expected to grow by 8.5 per cent in nominal terms. percent (4.1 percent in real terms), while exports also gained momentum with a positive growth of 8 percent (5.9 percent in real terms). Is.
Total investment expected to increase by 5.8 percent
According to Nikhil Gupta, chief economist, MOFSL Group, NSO estimates indicate a recovery in consumption and moderation in investment in the second half of FY25.
CareAge Ratings Chief Economist Rajni Sinha said consumption is expected to increase in the second half compared to the first half. She further said, “Good agricultural growth and a possible moderation in food inflation will boost consumption in the coming months. Continued “Consumption growth will also help in attracting private investment.”
