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According to official data released on Friday by the Ministry of Statistics and Programme Implementation, India's economy recorded a real growth of 6.2 percent during the October to December period of the financial year 2024-25. This growth surpassed that of the previous quarter, July to September, when the GDP increased by 5.6 percent. Nonetheless, the growth for October to December fell short of the Reserve Bank of India's (RBI) estimate of 6.8 percent. Additionally, the GDP growth rates for April to June and July to September also lagged behind the projections set by the central bank. Indicators of this subdued growth can be seen in consumer spending and recent trends in the stock market. The RBI has forecasted a real GDP growth of 6.6 percent for 2024-25, with expectations of a 7.2 percent increase in the January to March quarter, as detailed in their monetary policy from December. The Ministry's estimates suggest a 6.5 percent growth in real terms for the Indian economy in 2024-25, a decline from the 8.2 percent growth recorded in 2023-24, which is 10 basis points lower than what the RBI predicted.

In terms of nominal GDP, a growth rate of 9.7 percent is anticipated for 2024-25, compared to a 9.6 percent growth rate in 2023-24. For the fiscal year 2025-26, projections indicate that the Indian economy could expand between 6.3 percent and 6.8 percent, as highlighted in the Economic Survey presented on January 31. India achieved a notable GDP growth of 8.2 percent in the financial year 2023-24, maintaining its position as the fastest-growing major economy in the world. The economy expanded by 7.2 percent in 2022-23 and 8.7 percent in 2021-22. Earlier today, the World Bank emphasized that India must achieve an average growth rate of 7.8 percent over the next 22 years to realize its goal of becoming a developed nation by 2047, noting that achieving this objective will necessitate ambitious reforms and their effective execution.