GDP Forecast
OECD raises India's FY25 GDP growth forecast to 6.7%; FY26 to 6.8%
This story was originally published at 17:46 IST on 25 September 2024
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NEW DELHI – The Organisation for Economic Cooperation and Development today raised its forecast for India's GDP growth in the current financial year ending March by 10 basis points to 6.7% as it expects "solid domestic demand growth" to continue. The intergovernmental organisation also raised India's GDP growth forecast for 2025-26 by 20 bps to 6.8% as part of its interim report on Economic Outlook.
Earlier today, the Asian Development Bank retained its forecast for India's GDP growth in 2024-25 at 7.0% and for the next financial year at 7.2%. Growth forecasts for the current year of both, the OECD and the ADB, are below the Reserve Bank of India's projection of 7.2%. India's GDP grew 6.7% in Apr-Jun and 8.2% in 2023-24. The intergovernmental organisation had raised its India's GDP growth forecast by 40 bps to 6.6% in May citing stronger investment and improving business confidence.
OECD also raised its headline inflation forecast for India by 20 bps to 4.5% for the current year, bringing it on a par with the RBI's projection. Headline inflation was at 3.65% in September. It lowered the inflation forecast for 2025-26 by 10 bps to 4.1%. End
Reported by Shubham Rana
Edited by Akul Nishant Akhoury
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