Good news came from abroad… World Bank said- now Indian economy will run at this speed

For the central government led by Prime Minister Narendra Modi, a good news has come from abroad in the beginning of September, which is related to the Indian economy. In fact, the World Bank has increased India’s GDP growth estimate for the financial year 2024-25 by 40 basis points to 7 percent.

Now the economy will run at a speed of 7%
On Tuesday, good news came for India on the economic front. The World Bank has increased the growth forecast of the Indian economy (India GDP Growth) to 7 percent for the current financial year 2024-25. Earlier, the global body had expected the Indian economy to grow at the rate of 6.6 percent, which has been updated.

India is still the fastest growing country
This positive change in the GDP growth estimate by the World Bank is going to show the strong performance of the Indian economy. Which has been the fastest growing major economy in the world with strong growth in FY24. World Bank Country Director for India Auguste Tano Koume has said that India was the fastest growing economy with GDP growth of 8.2 percent in FY24 and it is still growing at a good pace. He said that this is when global growth is slower than the levels before the Corona epidemic.

Indian economy will get support from here
The World Bank has said in its report released on Tuesday that the Indian economy will get support from improvement in the agriculture sector and increase in rural demand. It has been said that despite the challenging environment at the global level, the Indian economy continues to boom. Along with increasing the GDP growth estimate, the World Bank has also expressed the hope that India’s service sector will remain strong.

There was a decline in GDP growth in the first quarter
This good news about the Indian economy from the World Bank has come at a time when it has registered a decline in the first quarter of FY25. The GDP growth rate in the June quarter has been the lowest in the last 5 quarters. India’s GDP growth rate in the April-June 2024 quarter has been recorded at 6.7%, while the GDP growth in the same quarter of the previous financial year was 8.2 percent.