New Delhi: Reserve Bank of India (RBI) governor Shaktikanta Das has said the real GDP for FY25 is estimated to be 7.2 percent, which is in...
Das estimated real GDP for Q2 FY25 at 7 percent,
Q3 at 7.4 percent and Q4 at 7.4 percent. Real GDP growth of Q1 of next year
has been estimated at 7.3 percent.
Speaking on the third and last day of the RBI’s
Monetary Policy Committee (MPC) meeting, Das said that the share of investment
in the GDP has reached its highest level since 2012-13.
“Looking ahead, India’s growth story remains intact
as its fundamental drivers – consumption and investment demand – are gaining
momentum,” said Das.
On the supply side, gross value added (GVA)
expanded by 8 percent, surpassing the GDP growth, aided by strong industrial
and services sector activities.
“High-frequency indicators available so far suggest
that domestic economic activity continues to be steady. The main components
from the supply side – agriculture, manufacturing, and services remain
resilient,” the RBI governor said.
According to Das, agricultural growth has been
supported by above-normal monsoon and better kharif sowing. He further stated
that manufacturing activity is gaining on the back of improving domestic
demand, lower input costs, and a supportive government policy environment.
“Government consumption is improving, investment
activity remains buoyant, government spending rebounding from a contraction in
the first quarter, and private investment continues to gain steam,” said the
RBI Governor.
Household
consumption is poised to grow faster in the second quarter of the current
fiscal (FY25) as headline inflation eases, with a revival of rural demand
already taking hold.
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