Economic Growth Outlook: The country’s economy remains strong amid global turmoil.
New Delhi:
Due to strong GDP growth rate and positive investor sentiment, India will remain the world’s fastest growing economy till 2030. This information was given by global brokerage house Goldman Sachs Group Inc. The brokerage house said that India’s income has started stabilizing in the last few years and the trend of profit growth may continue till 2030, as the country’s economy remains strong amid global turmoil.
It further said that Nifty’s total revenue and market cap have grown at a compound annual growth rate (CAGR) of 18 per cent over the last five years.
Earlier, investment firm Moody’s said that the Indian economy could grow at the rate of 7.1 percent in the financial year 2024-25.
Indian economy to grow at 6.8% in 2024-25: S&P
According to S&P Global, India’s economy can grow at the rate of 6.8 percent in the financial year 2024-25. It also said that India’s GDP growth rate can be 6.9 percent in the financial year 2025-26. The global rating agency said that India’s GDP growth has slowed down in the June quarter.
This is because urban demand is affected due to high interest rates. Inflation in food products is the biggest challenge for RBI to cut interest rates. Also, there is no change in our outlook. We think that RBI may cut interest rates in October. There may be two cuts in interest rates in the current financial year.
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