Rapid Fire
WB Raises India's GDP Forecast to 7%
- 12 Sep 2024
- 1 min read
Recently, the World Bank has raised India's growth forecast for FY25 to 7% from 6.6%.
- This aligns with forecasts from the International Monetary Fund (IMF) and Asian Development Bank (ADB).
- The Reserve Bank of India (RBI) has also projected India's GDP to grow at 7.2% in FY25.
- The World Bank expects a gradual rise in private investment and a recovery in consumption, but highlights unemployment as a key challenge to India's economic growth.
- While urban female unemployment has improved to 8.5% in early FY 24-25, urban youth unemployment remains high at 17%.
Read more: World Bank Forecasts India's Economic Growth Rate
