Official Forecast Sets the Tone: India's Fiscal Year Economic Growth Expected to Hold Steady at 7.4%
The Indian government expects the economy to grow by 7.4% in the fiscal year ending in March, maintaining its status as the world’s fastest-growing major economy despite trade friction with the United States. The GDP growth forecast released Wednesday by India’s Ministry of Statistics and Programme Implementation is broadly in line with the median forecast of 7.5% from surveyed economists. These projections may be revised in the federal budget in February, with final figures to be released after the fiscal year ends. India also plans to revise its GDP calculation methodology, likely in February, a move that could substantially alter growth forecasts.
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