India's GDP growth likely to slip to 6.5% in Sep qtr

ICRA REPORT | Agency maintains its FY25 growth estimate at 7%

Domestic rating agency ICRA on Wednesday said India's real GDP growth for the September quarter is likely to decline to 6.5 per cent due to heavy rains and weaker corporate performance.

The agency, however, maintained its FY25 growth estimate at 7 per cent on expectations of a pick up in economic activity in the second half of the fiscal.

The estimates and commentary on the outlook come at a time when there are concerns around the growth slowdown on a slew of factors like slowing down urban demand.

The RBI is sticking to its estimate of 7.2 per cent growth for the fiscal, but a majority of watchers expect it to be under the 7 per cent figure and many have been revising down in the last few weeks.