The good news is that India’s growth is becoming more balanced as private consumption’s share in GDP rose in fiscal 2025, according to a Crisil report.
The mild revision of 10 basis points (bps) in the second advanced estimate to 6.5 per cent takes the expected real GDP growth this fiscal closer to the average of 6.6 per cent seen in the decade pre-pandemic.
“And this is over a sharp upward revision of 100 bps in the previous year’s growth to 9.2 per cent,” said Dharmakirti Joshi, Chief Economist, Crisil.
“We expect the GDP growth at 6.5 per cent next fiscal, supported by normal monsoons, lower food inflation and rate cuts of 75-100 basis points in the current cycle that began earlier this month,” he mentioned.
As anticipated, public and household investments were the faster-growing investment components in fiscal 2024.
The financial flexibility and low leverage that corporates enjoy are yet to translate into healthy investments.
The ongoing tariff wars and fear of dumping from China keep the corporate sector cautious on investments.
“The complexity of risks from tariff actions – already initiated and likely to be followed by more such measures in the coming months – is evolving and creates a downside bias to our forecasts,” said Joshi.
The GDP growth accelerated to 6.2 per cent in the third quarter (October-December) of 2024-25, up from a revised figure of 5.6 per cent in the second quarter of the financial year.
The growth rate for the financial year 2024-25 is now estimated at 6.5 per cent while the economic growth rate for 2023-24 has been revised to a 12-year high of 8.2 per cent.
Meanwhile, the fiscal deficit for the first 10 months of the current financial year (April-January) stood at Rs 11.70 lakh crore or 74.5 per cent of annual estimates.
Mizoram: Security forces seize drugs valued at Rs 66.31 crore
The Assam Rifles in association with Mizoram Police in two separate joint operations have seized huge quantities of drugs worth Rs 66.31 crore from bordering Champhai district, which shares unfenced border with Myanmar and a hotspot of drugs smuggling, officials said on Sunday.
International Wheelchair Day: India emphasises inclusion of persons with disabilities
This day not only highlights the significance of wheelchairs in the lives of users but also serves as an important opportunity to enhance awareness and inclusivity in society, said the ministry on the occasion of the ‘International Wheelchair Day 2025’.
BJP committed to holistic development of Tripura – CM Dr Manik Saha celebrates 2 years of BJP’s second tenure in Tripura
Chief Minister Dr Manik Saha on Sunday joined the party’s celebration of 2 years of its second tenure in Tripura and said that the BJP is committed to holistic development of the state.
Communism is a system designed to ruin future of youth: Biplab
Former Tripura Chief Minister and Lok Sabha MP Biplab Kumar Deb launched a scathing attack on the CPI(M), asserting that Communism is a system designed to ruin the future of youth and women.
5 including four Govt officials arrested for embezzlement of Rs 29 Lakh in Sepahijala SP Office
Five individuals, including four government officials, have been arrested for their involvement in the embezzlement of Rs 29.04 lakh from the office of the Sepahijala District Superintendent of Police. A case was filed in February 2024 by the Drawing and Disbursing Officer (DDO) of the SP's office, leading to an investigation.
Another member of robbery gang held, Weapons, TSR uniforms seized
Tripura Police of Churaibari police station has arrested another active member of the dacoity gang involved in the recent armed heist in Gobindapur, North Tripura district.
3 Tripura CP-M leaders surrender in local court on apex court directions, sent to jail
Three CPI-M leaders, who were booked and convicted in a case of assaulting a judge in South Tripura district during a nationwide strike called in September 2015, have surrendered before a court and were sent to jail, a defence lawyer said on Sunday.
BSP chief Mayawati removes nephew Akash Anand from all party posts, again
In a major organisational shake-up, the Bahujan Samaj Party (BSP) chief Mayawati on Sunday removed her nephew Akash Anand from all party posts, effectively ruling him out as her political successor.