India's economy to grow by 6.5 percent in current, next FY: EY Report

A recent EY report said India's economy is likely to grow by 6.5 percent in the current and the next financial year.

- STATESMAN NEWS SERVICE

It attributed the growth number to lower than anticipated expansion in the September quarter to a fall in private consumption expenditure and gross fixed capital formation. For the second quarter of the current Financial Year 2024-25, the Real GDP growth eased to a seven-quarter low of 5.4 percent.

This was compared to 6.7 percent in the preceding quarter. This was primarily because two domestic demand components—private final consumption expenditure and gross fixed capital formation—together accounted for a fall of 1.5 percentage points, the report said.