Uncategorized

Moody’s Expects India To Grow 6.6% In Fiscal Year 2024-25

The Indian economy is expected to grow at 6.6 per cent in the current financial year 2024-25, fuelled by strong credit demand that will support the NBFC sector’s profitability, Moody’s Ratings said.

The rating agency’s 2024-25 GDP growth estimates are, however, lower than the projections made by the RBI. The RBI, in its latest monetary policy review meeting, projected Indian economy to grow at 7 per cent in 024-25.

The global rating agency for the next financial year 2025-26 pegged India’s growth at 6.2 per cent.

Rating agency Moody’s recently maintained outlook for the government of India to be stable. The stable outlook incorporates the likelihood that India’s fiscal metrics will continue to gradually improve amid robust growth prospects compared with peers.

A stronger and more stable economy has emerged from the pandemic, said Moody’s although it does not expect a material reduction in debt amid gradual fiscal consolidation over the next year.
It had also asserted that India benefited from infrastructure development, digitalization and the rehabilitation of the financial system.

India’s GDP grew at a massive 8.4 per cent during the October-December quarter of the financial year 2023-24, and the country continued to remain the fastest-growing major economy and is poised to maintain its growth trajectory going ahead. India’s economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22, respectively.

The Indian economy is estimated to have grown 8 per cent in the 2023-24 financial year.

India is set to remain the fastest-growing among major economies in 2024, according to latest International Monetary Fund’s latest World Economic Outlook. IMF, in its latest outlook, raised India’s growth projections for 2024 from 6.5 per cent to 6.8 per cent.

Firm GDP growth forecasts, inflation at manageable levels, political stability at the central government level, and appreciable central bank monetary policy, have all contributed to painting a bright picture for the Indian economy in recent quarters.

Citing various macroeconomic parameters that are doing pretty well, India’s G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025.

The size of India’s GDP is currently ranked 5th, after the US, China, Germany, and Japan. It overtook the UK in 2022. Just a decade ago, Indian GDP was the eleventh largest in the world. Currently, India’s GDP is estimated to be around USD 3.7 trillion.

(ANI)

Also Read: “Whatever PM Modi said, he did it”: Dr. Rajeshwar Singh At Sarojininagar Sankalp Padyatra, MLA says Kaushal Kishore Will Get Huge Victory

Bharat Express English

Recent Posts

Hina Khan Hails 11 Years Of PM Modi’s Leadership; Highlights National Progress

As the nation marks 11 years under PM Modi's leadership, actress Hina Khan shares her…

4 hours ago

Subhash Ghai Hails PM Modi’s Transformative Vision For India

Subhash Ghai has praised PM Narendra Modi’s leadership for catalysing India’s growth and changing the…

4 hours ago

India & Central Asia Boost Rare Earth Cooperation At Delhi Meet

India and five Central Asian nations have agreed to deepen cooperation on rare earths and…

5 hours ago

PM Modi’s Beej Se Bazaar Tak Vision Reshapes Indian Agriculture

Prime Minister Modi has redefined Indian agriculture with the ‘Beej Se Bazaar Tak’ vision, transforming…

6 hours ago

EV Sales Cross 4% Mark In May; Signalling Steady Shift To Green Mobility

EV sales topped 4% of passenger vehicle retail in May 2025, signalling growing demand for…

6 hours ago

Self-Reliant Defence Industry Marks India’s Strategic Security Ascent

One year into Modi 3.0, reforms have reduced poverty, strengthened defence, and accelerated the digital…

6 hours ago