Indian economy to be ‘little weaker’ in 2025, says International Monetary Fund chief
IMF Managing Director Kristalina Georgieva said more details about India’s growth forecast would be provided in the World Economic Outlook update next week.
Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -
Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -
The Indian economy is likely to be “a little weaker” in 2025 despite steady global growth, the International Monetary Fund’s Managing Director Kristalina Georgieva said on Friday, reported PTI.
“The US [United States] is doing quite a bit better than we expected before, the EU [European Union] is somewhat stalling, [and] India a little weaker,” Georgieva said at her annual media roundtable, without elaborating further.
Georgieva added that more details on India’s economic outlook would be provided in the World Economic Outlook update next week.
India’s gross domestic product growth is projected to sharply fall to a four-year low of 6.4% in the financial year 2024-’25, from 8.2% in 2023-’24, according to the first advance estimates released by the National Statistics Office on Tuesday.
The projection released by the Ministry of Statists and Programme Implementation is slightly below the Reserve Bank of India’s projection of a growth rate of 6.6%. The decline in Gross Domestic Product growth could be due to a possible decline in manufacturing and investment growth.
Growth in the manufacturing sector may drop to 5.3% from 9.9% last year. Similarly, investment growth is predicted to decline to 6.4%, down from 9%. However, the agriculture sector is projected to grow by 3.8%, up from 1.4%.
The advance estimates give a broad picture of how the country’s economy may perform in...
