• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

India To Continue As Fastest-Growing Major Economy Globally: Report

OMMCOM NEWS by OMMCOM NEWS
January 10, 2025
in Business
indian economic

New Delhi: India will continue to stand out as the fastest-growing major economy globally in the coming years with growth momentum to improve in 2025 as government spending is picking up again and consumer sentiment stays resilient, according to a Franklin Templeton report.

The structural growth outlook for India’s economy remains very much intact, with various signs indicating that the slowdown in 2024 will be transitory, the report said.

“All in all, we believe India can comfortably maintain its position as the world’s fastest-growing major economy, with GDP growth of around 6.5 per cent until at least 2029. Income growth and the rise of the middle class will likely continue in tandem. We expect India’s wealthy and middle-class populations to expand by 400 million people. In particular, the number of people in India’s wealthiest class could grow three-fold,” the report said.

“We also stay positive on India’s vibrant digital economy and its beneficiaries, as well as the structural growth potential in the healthcare sector,” it said.

India’s economic growth slowed in 2024, with gross domestic product (GDP) year-on-year growth of just 5.4 per cent in the fiscal second quarter (July-September), the lowest in seven quarters. As a result, growth for the full fiscal year ending March 2025 will likely be 6.6 per cent, moderating from 8.2 per cent from a year earlier, based on Reserve Bank of India (RBI) forecasts.

The report said the slowdown is temporary, with deferred government spending in a general election year the primary cause. Heavy monsoon rainfall during the summer also proved disruptive to economic activities. Several high-frequency data points are showing improving underlying conditions for a recovery in growth.

Government spending has been picking up since September, suggesting that it is gradually ramping up its spending on priority initiatives, particularly infrastructure and rural development. Importantly, a pickup in government spending and activities should synergise capital expenditure (capex) growth in the private sector. For instance, faster approvals for construction and engineering projects will bolster company confidence to invest and hire more actively.

Private consumption is a major driver for India’s economy and it is showing stronger growth momentum in the second half of this year. Consumer sentiment also remains resilient and year-ahead optimism has held firm, indicating a post-election recovery. Consumption growth should find further support if inflation cools in 2025. The Consumer Price Index (CPI) inflation rate will moderate from 5.7 per cent in the October-December quarter of 2024 to 4 per cent in the July-September quarter of 2025, based on RBI forecasts, the report said.

The resumption of government spending, private sector capex growth and the resilience of domestic consumption, among other factors, may help India’s economy return to normalcy in 2025. As growth accelerates again, the stage is set for earnings recovery, the report added.

(IANS)

Tags: EconomyGDP GrowthReserve Bank of India (RBI)
ShareTweetSendSharePinShareSend
Previous Post

Class 12 Student Detained For Sending Threat Emails To 23 Delhi Schools

Next Post

BSF Recovers Pistol, Drugs Dropped By Pak Drones In Punjab’s Amritsar

Related Posts

Business

Indian Bond Market Shines Amid Falling Inflation: Jefferies

May 31, 2025
Business

E-Commerce Giants Remove Walkie-Talkie Listings After Govt Cracks Down On Illegal Sales

May 31, 2025
Business

FIIs To Continue Their Investment In India Amid Robust GDP Growth: Analysts

May 31, 2025
Gautam Adani
Business

Gautam Adani Lauds First Batch Of Women NDA Cadets For Scripting History

May 31, 2025
Business

Providing Service To Taxpayers Is Duty Of Tax Officials: FM Sitharaman

May 31, 2025
Business

Indian Stock Markets Witness 2nd Consecutive Week Of Consolidation

May 31, 2025
Next Post

BSF Recovers Pistol, Drugs Dropped By Pak Drones In Punjab's Amritsar

Hrithik Roshan Celebrates 51st B’day With Ex-Wife Sussanne Khan, Ladylove Saba

Bird Flu Outbreak Drives Up Egg Price To Record High In US

Khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.