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Even world rating agencies are surprised by India's GDP growth. Recently IMF and World Bank have given positive ratings on India's growth. Now UNO has said that India's speed is much more than we thought. The United Nations believes that India's growth rate in the year 2024 will exceed earlier estimates. Earlier in January, the United Nations had estimated India's growth rate to be 6.2 percent for 2024. Now it has been increased by 0.7 points. Now it is being said that the Indian economy can grow at the rate of 6.9 percent in 2024 and 2025 percent. The United Nations has identified two major reasons behind India's growth rate. The United Nations has released a report titled World Economic Situation and Prospects to Mid-2024, in which the former weighs on large investments and the latter on private sector consumption. It is being 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 government investment and increasing private consumption. Growth is further boosted by rising demand worldwide and India's exports. Exports from the pharma and chemical sectors are likely to increase in the near future.
Earlier estimate was 6.2 percent
Earlier, UNO had estimated India's growth rate to be 6.2 percent for January 2024. Then maximum growth will be seen in manufacturing and service sectors. Yuno felt the same way. However, UNO's forecast for 2025 remains unchanged at 6.6 percent. Inflation has been controlled in the country. The estimate of retail inflation rate for the year 2024 has been reduced from the previous 5.6 percent to 4.5 percent. The lowest inflation rate in Asia is in Maldives at 2.2 percent and the highest is in Iran at 33.6 percent.