India GDP Growth : Rating agencies around the world are also shocked about India’s GDP growth. Recently IMF and World Bank had given positive rating regarding India’s growth. Now the United Nations has said that India’s speed is faster than we thought. UN believes that in the year 2024, India’s growth rate will exceed the earlier estimates. The United Nations had earlier in January estimated India’s growth rate for 2024 at 6.2 percent. Now it has been increased by 0.7 points. Now it is said that the Indian economy can grow at the rate of 6.9 percent in 2024 and 6.6 percent in 2025. The United Nations has cited the two biggest reasons behind India’s growth rate. First, huge investment coming into India and second, private sector consumption. In fact, the United Nations has released a report titled ‘World economic situation and prospects in the middle of 2024’. It said that the Indian economy can grow at the rate of 6.9 percent in 2024 and 6.6 percent in 2025. The main reason for this is huge investment by the government and increase in private consumption. Growth is further accelerated by increasing world demand and India’s exports. There is a lot of potential for increasing exports from the pharma and chemical sectors in the coming times.
Earlier the estimate was 6.2 percent
Earlier in January, the UN had estimated India’s growth rate for 2024 at 6.2 percent. At that time, the UN felt that the maximum growth would be seen in the manufacturing and service sectors. However, the UN’s estimate for 2025 remains at 6.6 percent as before. Inflation has also been controlled in India. The retail inflation estimate for 2024 has been reduced to 4.5 percent from the earlier 5.6 percent. The lowest inflation rate in Asia is in Maldives at 2.2 percent and the highest is in Iran at 33.6 percent.
Know the condition of China and America
The United Nations has estimated the growth rate of the world economy to be 2.7 percent in 2024, which was earlier estimated at 2.4 percent. The estimate for 2025 has also been increased by 0.1 percent to 2.8 percent. The US economy is likely to grow at a rate of 2.3 percent in 2024. China’s economy may also achieve a growth rate of only 4.8 percent in 2024 and 5.2 percent in 2025. UN has said that the government is increasing capital investment and laying full emphasis on reducing fiscal deficit. Due to the rising cost of energy and the increasing crisis in the world, some challenges are also present. But after Corona the world demand is increasing. In such a situation, exporting countries will benefit from it.