India's GDP seen growing at 7% in FY25 says FICCI, recovery expected in agri sector

The latest round of Federation of Indian Chambers of Commerce & Industry or FICCI's Economic Outlook Survey reveals that an annual median GDP growth forecast for the year 2024-25 at 7.0 per cent for the Indian economy. The median growth forecast for agriculture and allied activities has been put at 3.7 per cent for 2024-25, marking an improvement vis-a-vis growth of about 1.4 per cent reported in the year 2023-24. Industry and services sector are anticipated to grow by 6.7 per cent and 7.4 per cent respectively in the current fiscal year.

According to the survey results, median GDP growth is estimated at 6.8 per cent and 7.2 per cent in Q1 2024-25 and Q2 2024-25 respectively. The median forecast for CPI based inflation has been put at 4.5 per cent for 2023-24, with a minimum and maximum range of 4.4 per cent and 5.0 per cent respectively. While food prices remain sticky with inflation inching up in cereals, fruits and milk, the survey participants expect easing of prices in second quarter with kharif output reaching the market.

 

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