India's FY25 GDP Growth Projected at 7.1%: NIPFP

Apr 26, 2024 18:42

NIPFP forecasts India's GDP growth at 7.1% for FY25, attributing it to strong tax revenue and state capex. Other agencies like ADB and Fitch project 7%, while IMF and S&P forecast 6.8%.

Photograph: Rupak De Chowdhuri/Reuters

New Delhi, Apr 26 (PTI) Economic think-tank National Institute of Public Finance and Policy (NIPFP) on Friday said it has estimated India's GDP growth at 7.1 per cent for the current fiscal, using high-frequency models.

NIPFP, in a series of tweets, said the Centre is on a fiscal consolidation path through buoyancy in taxes and revenue expenditure compression.

The economic think tank said that in 2023-24, states' capex growth is robust due to significant capex transfers from the Centre.

While the Asian Development Bank (ADB) and Fitch Ratings have estimated India's growth at 7 per cent, the International Monetary Fund (IMF), S&P Global Ratings and Morgan Stanley projected a 6.8 per cent growth rate for FY25.

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India's FY25 GDP Growth Projected at 7.1%: NIPFP

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