World Bank raises India’s growth forecast to 7% for FY25

New Delhi: The World Bank on Tuesday raised India’s economic growth forecast for the current fiscal year to 7 per cent, up from its earlier estimate of 6.6 per cent. This revision is attributed to a recovery in the agricultural sector and a boost in rural demand.

The updated forecast aligns with projections by the International Monetary Fund (IMF) and the Asian Development Bank (ADB), both of which also predict 7 per cent growth for India in the financial year ending March 2025.

“Improvement in monsoon, private consumption, and rising exports have contributed to the upward revision,” said World Bank senior economist Ran Li.

The Reserve Bank of India (RBI) has estimated an even higher growth rate of 7.2 per cent for the year.