India's Economic Growth: Analyzing the Latest Trends and Forecasts

India's economy grew by 6.2% in the October-December quarter of 2024-25, exceeding the July-September growth of 5.6%. Although lower than the RBI's forecast, the economy is expected to grow 6.5% in 2024-25. The World Bank emphasizes the need for reforms to achieve India's long-term growth aspirations.

India's economic growth rate reached 6.2% during the October-December quarter of the financial year 2024-25, as reported by the Ministry of Statistics and Programme Implementation. This figure marks an improvement over the 5.6% growth seen in the July-September quarter.

However, the growth rate fell short of the Reserve Bank of India's forecast of 6.8%, indicating persistent challenges in consumption and stock market performance. Furthermore, real GDP growth for 2024-25 is projected at 6.6%, with expectations of a 7.2% rise in the January-March quarter.

The World Bank today highlighted that to achieve developed nation status by 2047, India will need an average growth rate of 7.8% over the next 22 years. This ambitious goal requires significant reforms and their implementation to support the country's economic aspirations.

(With inputs from agencies.)