The National Council of Applied Economic Research (NCAER) has said that India's economy is set to achieve significant growth, with projections nearing 7.5% for the current fiscal year (FY25).
The NCAER noted that high-frequency indicators demonstrate the resilience of India's domestic economy, prompting upward revisions in growth projections for the upcoming fiscal year by various agencies. The expected growth range for the year spans between 7.2% and 6.2%.
Poonam Gupta, the director general of NCAER, emphasized that gross domestic product (GDP) growth during 2024-25 could exceed 7%, buoyed by robust economic activity observed in the first quarter, a focused investment policy, and macroeconomic stability. She also highlighted the favorable global environment, the peaking inflation, and ongoing efforts to address food price challenges through strategic policy frameworks.
