India's Economy To Hike 6.9%; Official Data To Be Released On May 30

India's Economy To Hike 6.9%; Official Data To Be Released On May 30

ICRA has projected the year-on-year expansion of the GDP to rise to 6.9 percent in Q4 2024-25 from 6.2 percent in Q3 2024-25. The Reserve Bank of India had also projected 6.5 percent GDP growth for the fiscal year 2024-25.

ANIUpdated: Monday, May 19, 2025, 03:28 PM IST
article-image
File Image |

New Delhi [India]: Indian economy is expected to grow at 6.9 per cent in the January-March quarter 2025, the official data for which is scheduled to be released on May 30 by the National Statistics Office, according to rating agency ICRA.

ICRA has projected the year-on-year expansion of the GDP to rise to 6.9 per cent in Q4 2024-25 from 6.2 per cent in Q3 2024-25, while significantly undershooting the National Statistical Office's (NSO) implicit estimate of 7.6 per cent for the quarter.

During the April-June, July-September, October-December 2024 quarters, the country's economy, in real terms, observed a growth rate of 6.7 per cent, 5.6 per cent, and 6.2 per cent, respectively.

On May 30, the provisional estimates of annual GDP for the entire 2024-25 fiscal will also be released. As per the second advance estimates of NSO, the country's economy is projected to grow at 6.5 per cent in 2024-25. The Reserve Bank of India had also projected 6.5 per cent GDP growth for the fiscal 2024-25.

Aditi Nayar, Chief Economist, Head-Research and Outreach, ICRA, "Both private consumption and trends for investment activity were uneven in Q4 FY2025, with the latter partly owing to tariff-related uncertainty." Unless there are material revisions in the data for Q1-Q3 2024-25, ICRA projects a sharp step down in the full-year GDP expansion to 6.3 per cent in 2024-25 from 9.2 per cent in 2023-24.

India's GDP grew by an impressive 9.2 per cent during the financial year 2023-24, continuing to be the fastest-growing major economy. The economy grew by 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22, according to official data.

The Indian economy is estimated to achieve a growth of 6.5 per cent in FY25 despite considerable external headwinds, the Department of Economic Affairs (DEA), Ministry of Finance said in a report in March. The Monthly Economic Review added that the performance of the economy in the past quarters was driven by strong agricultural and service sector performance on the supply side and a steady increase in consumption and core merchandise and services exports on the demand side.

Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.

RECENT STORIES

Tata Group-Owned Indian Hotels Net Profit Jumps 26.56% To ₹329 Crore In Q1 FY26, Revenue Rises To...

Tata Group-Owned Indian Hotels Net Profit Jumps 26.56% To ₹329 Crore In Q1 FY26, Revenue Rises To...

Hexaware Acquires 100% Stake In SMC Squared For ₹1,029 Crore To Boost Global Capability Centre...

Hexaware Acquires 100% Stake In SMC Squared For ₹1,029 Crore To Boost Global Capability Centre...

Waaree Renewable's Q1 Net Profit Rises 207% YoY To ₹86 Crore Despite Sequential Dip; Revenue Jumps...

Waaree Renewable's Q1 Net Profit Rises 207% YoY To ₹86 Crore Despite Sequential Dip; Revenue Jumps...

Gold Slips ₹200 To ₹98,670/10g, Silver Tumbles ₹500 To ₹1,10,500/Kg

Gold Slips ₹200 To ₹98,670/10g, Silver Tumbles ₹500 To ₹1,10,500/Kg

Axis Bank Q1 FY26 Net Profit Falls 4% To ₹5,806 Crore Amid Rise In Bad Loans

Axis Bank Q1 FY26 Net Profit Falls 4% To ₹5,806 Crore Amid Rise In Bad Loans