The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent from an earlier projection of 6.6 per cent in the current fiscal, helped by recovery in the agri sector and pick-up in rural demand.
This is in line with projections by the International Monetary Fund (IMF) and Asian Development Bank (ADB). Both multilateral funding agencies have raised their forecast to 7 per cent for the financial year ending March 2025.
According to Economic Survey, the country's real gross domestic product (GDP) will grow at 6.5-7 per cent in 2024-25. However, the Reserve Bank of India estimates a higher 7.2 per cent for the current financial year.
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