Fitch raised India’s GDP at 7.2% for FY25

Fitch raised India’s GDP at 7.2% for FY25

Fitch ratings has recently revised its earlier projection for India’s GDP growth rate for FY25 from 7 percent to 7.2 percent. The reason given by Fitch ratings to this increase in its projection is higher consumer confidence.

More findings:

As per the Fitch ratings, India’s GDP reflected faster than expected during FY24 as 8.2 percent uptick. The fixed investment is expected to rise around 7.2 percent this year, which is slower than last year’s 9 percent.

Important terms:

Goods and services tax-

GST stands for Goods and Services Tax. It is a consumption tax levied on the supply of goods and services in many countries around the world. GST is designed to replace other indirect taxes such as sales tax and value-added tax, streamlining the taxation process and reducing administrative complexities.

Year-on-year growth-

Year-on-year (YoY) growth, also known as year-over-year growth, is a measure used in financial and economic analysis to compare the performance of a particular metric, such as revenue, sales, or GDP, between two points in time separated by one year.

Fiscal year-

A fiscal year is a 12-month period used for financial reporting and budgeting purposes by businesses, governments, and other organizations. It may or may not coincide with the calendar year.

Conclusion:

The public and private sector investment demand, higher consumption growth, higher consumer confidence, high consumer demand are some major factors behind the robust growth of India.

Important Questions:

• What is the GDP projection of 2025 for India by the Fitch ratings?
• What are some reasons behind the robust growth of the economy in India?

Download Online Mock Test Mobile APP

• Join Official Telegram Channel
• Join Official Whatsapp Group

Recommended PDF’s for 2024:

• Computer Capsule 2024 : Download PDF
• Banking Awareness (Theory+MCQ’s) Complete PDF : Download Now
• Get FREE Study Materials & PDFs for IBPS , RBI, SBI, LIC AAO , LIC Assistant, NIACL & Other Exams Over the mail and Whatsapp