India continues to hold steady despite global uncertainties: CareEdge Ratings

With lower capex, CareEdge Ratings project the fiscal deficit for 2024-25 at 4.8 per cent of GDP, marginally lower than the budgeted 4.9 per cent. CareEdge Ratings believes that the manageable CAD and high forex reserves should support rupee

- TBG NETWORK

CareEdge Ratings expects the central government to continue on the path of fiscal consolidation and projects India's GDP growth to moderate but remain healthy at 6.5 per cent in the current financial year.

For the next financial year, 2025-26, it pegged India's GDP growth at 6.7 per cent, in a webinar held on Economic and Sector Outlook for 2025.

Despite global uncertainties, CareEdge Ratings asserted that India will continue to hold steady in 2025.

The Reserve Bank in its latest monetary policy had cut India's growth forecast to 6.6 per cent from 7.2 per cent.

Sachin Gupta, Chief Rating Officer and ED, CareEdge Ratings, said that the first half of 2024-25 paints a picture of cautious optimism within India's corporate sector.