Expressing optimism over the India’s growth scenario, economic think-tank National Institute of Public Finance and Policy (NIPFP) said it has estimated India's Gross Domestic Product (GDP) growth at 7.1 per cent for the current fiscal (FY25), using high-frequency models.
NIPFP 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.
Recently, the finance ministry in its Monthly Economic Review for March said that resilient growth, price stability and steady external sector outlook continue to support India's promising economic performance amid uncertain global conditions. It said overall, India continues to be the fastest-growing major economy, with positive assessments of the growth outlook for the current financial year for India by international organisations and the RBI.
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