The economic expansion becomes more balanced as private consumption increases its share of GDP through fiscal 2025, as per the Crisil report. The forecasted real GDP growth for fiscal year 2025 has experienced a small rise of 10 basis points to reach 6.5 percent, bringing it very close to the pre-pandemic average of 6.6 percent.
As quoted by DD News, Chief Economist of Crisil, Dharmakirti Joshi, stated, “And this is over a sharp upward revision of 100 bps in the previous year’s growth to 9.2 per cent.”
Further, he mentioned, “We expect the GDP growth at 6.5 per cent next fiscal, supported by normal monsoons, lower food inflation, and rate cuts of 75-100 basis points in the current cycle that began earlier this month.”
India’s fiscal deficit rose to Rs 11.70 lakh crore during the first ten months, from April to January 2025, representing 74.5 percent of its annual budgeted deficit.
In the fiscal year 2024, public and household investments were the fastest-rising components. Ongoing tariff conflicts and concerns about potential dumping from China continue to make the corporate sector wary of committing to new investments.
The third-quarter GDP expansion within 2024-2025 (October-December) rose to 6.2 percent compared to the revised 5.6 percent in the preceding quarter. Indian economic expansion for the entire financial year 2024-25 now stands at 6.5 percent, while the revised estimate for 2023-24 shows a twelve-year peak of 8.2 percent.”
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