7.8% growth likely for FY25
Revival in agriculture sector on the back of normal monsoon supporting economic growth: BoB
Chennai:The Indian economy is expected to grow at 7.8 per cent in FY25, said an economist in Bank of Baroda in a report. Citing the 7.6 per cent GDP growth estimates for FY24 by National Statistical Office (NSO), Jahnavi Prabhakar, Economist said given the strong macroeconomic fundamentals, consumption and investment are expected to maintain if not drive growth higher in FY25.
With gradual improvement in global economic outlook, exports are expected to register stronger growth. Gross Value Added (GVA) growth is expected at 7.2 per cent from 6.7 per cent in FY24 led by broad based improvement across sectors, the Bank of Baroda states.
“Revival in the agriculture sector on the back of a normal monsoon is an assumption here. Based on the above, we expect the Indian economy to clock a growth rate of 7.8 per cent in FY25,” Prabhakar said.
