India Eyes 6.5% Growth Amid Global Challenges

India’s economy is charting a steady course, with growth projected at around 6.5% for fiscal 2024/25, as per the government’s announcement on Thursday. This figure leans toward the lower end of its earlier estimate of 6.5%-7%, reflecting caution amidst global uncertainties. The finance ministry’s November report painted a mixed picture. On one hand, there’s optimism: robust rural demand and a surge in urban spending during October and November have brightened the outlook for the December quarter. On the other, growth for July to September lagged expectations, thanks to weaker-than-hoped performance in manufacturing and consumption. Despite the hiccups, India remains confident about hitting its 6.5%-7% target—still an enviable pace in today’s economic climate. The ministry predicts it’ll outshine the first six months. For now, India’s growth story balances resilience with caution. While global headwinds loom, the country’s fundamentals suggest it’s still navigating turbulent waters with skill.

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