Finance Ministry Projecting Nominal GDP Growth of 11% for FY25

The Finance Ministry is Set to Anticipate Robust Economic Expansion for the Fiscal Year 2025

Ira Singh
Khabar Khabaron Ki,29 Nov’23

The Finance Ministry reportedly stated nominal Gross Domestic Product (GDP) growth rate of 11% for the next financial year, about 50 basis points higher than the estimate for 2023-24.

The official reportedly stated, investments are expected to increase from the private sector as well, so that could fetch a growth of about 7 percent for FY25. If consumption stays strong then it will also induce producers to increase their production of goods and services on the same capacity.

India’s GDP growth for July- September is likely to come in at 6.8 percent, according to survey of economists. This is 30 basis points higher than the Reserve Bank of India’s (RBI) forecast of 6.5 percent. In fact, economists from the central bank have made note of the “wide consensus” that GDP growth will outperform the RBI’s projections.

The statistics ministry will release GDP data for July-September 2023 at 5:30 pm on November 30.

The Economic Survey for 2023 projected real GDP growth for the current fiscal in the range of 6-6.8 percent, “depending on the trajectory of economic and political developments globally.