New Delhi : Audit and consultancy firm Deloitte has presented a good news for the Indian economy. Deloitte India, the Indian unit of this company, said that the Indian economy is likely to grow due to strong government expenditures and increased investment in the manufacturing sector. It is being told that India's GDP is expected to grow by 7 to 7.2 percent in the current financial year 2024-25. However, it has said that the figures for the next financial year may be affected due to slowdown in global growth.
Deloitte, in its 'Indian Economy Outlook to October 2024', said a thriving manufacturing sector, stable oil prices and possible post-election US monetary easing could boost capital flows into India, reduce production costs and log Term investment and employment opportunities may increase.
Fast economy at global level
The economy has grown by 6.7 percent on an annual basis in the April-June quarter of the current financial year 2024-25. Although this is the slowest growth in 5 quarters, India is one of the fastest growing major economies globally.
GDP 7 to 7.2 percent
Deloitte India has said in the statement that, it has estimated the annual gross domestic product (GDP) growth to be between 7 percent to 7.2 percent in the financial year 2024-25 and for the next financial year 2025-26, it has been estimated to be between 6.5 to 6.8 percent. Has been retained. Earlier this month, the Reserve Bank of India (RBI) had estimated that the Indian economy could grow at the rate of 7.2 percent in the current financial year due to strong local activity.
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Contribution of manufacturing sector
Rumki Majumdar, Economist, Deloitte India, said, “Domestic factors such as moderation in inflation, especially in food, good rainfall and record kharif production, strong government spending in the second half of the year and rising investment in manufacturing are a positive factor for India this year.” Will help in growth.”
Trying to reduce operating costs
“High capital inflows following the US Fed's interest rate cut could translate into long-term investment and employment opportunities as multinationals across the world look to further reduce operating costs,” Majumdar said.
(with agency input)
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