WB Raises India's GDP Forecast to 7% | 12 Sep 2024

Source: TH

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