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India's Economy Likely To Grow By 6.5% In FY25 And FY26, Says EY Report
- India's economy is likely to grow by 6.5% in the current and the next financial year, as per an EY report.
- The September quarter reported lower than expected expansion in private consumption expenditure and gross fixed capital formation.
- Private final consumption expenditure and gross fixed capital formation components together accounted for a fall of 1.5% points.
- Apart from the fact that private investment demand has not picked up, there was a contraction in government of India's investment expenditure growth.
- The growth is estimated at 5.4% in the second quarter of fiscal 2025, which is a six-quarter low.
- The EY Economy Watch December 2024 forecasts India's real GDP growth at 6.5% for fiscal 2025 and fiscal 2026.
- To achieve the Viksit Bharat vision by 2047-48, a recalibrated approach is vital for sustainable debt management and driving investment-led growth.
- It would be appropriate to recast the 2019 National Infrastructure Pipeline for a period extending up to 2030 with revised targets.
- The latest edition of EY Economy Watch suggests that the total debt of the central and state governments combined should not exceed 60% of the country's nominal GDP.
- Economy Watch suggests that a major reform is required in the FRBM Act to ensure fiscal responsibility while supporting India's ambitious growth goals.
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