Considerably beneath par: Congress on 6.5 computer GDP for 2024-25
“The effective print raises extra issues. The Jan-Mar 2025 manufacturing sector progress was 4.8 per cent versus 11.3 per cent a 12 months in the past. Relatively than grappling with this actuality, the federal government has as soon as once more resorted to spin-doctoring, claiming that ‘manufacturing systemic reforms will present outcomes over time’.”
In a jibe on the authorities, Ramesh stated that 11 years after Make in India was launched, “we’re being instructed right this moment to attend longer for it to indicate even preliminary outcomes”.
He stated India’s demographic dividend and beneficial worldwide geopolitics provide a historic alternative to embark on a high-growth dash over the following two to 3 many years.
“In these circumstances, 6.5 per cent progress is a considerably below-par efficiency in contrast to (sic) to be improved given tepid consumption progress, stagnant actual wages, sharpening inequalities, and continued lukewarm non-public funding charges throughout the nation,” the Congress chief stated.
India’s financial progress slowed to 7.4 per cent within the January-March interval, and pulled down the annual progress price for 2024-25 to a four-year low of 6.5 per cent, primarily owing to the manufacturing sector, official information confirmed on Friday.
The scale of the Indian economic system rose to Rs 330.68 lakh crore or about USD 3.9 trillion and set the stage for reaching the USD 5 trillion goal within the subsequent few years. Within the earlier 2023-24 fiscal 12 months, the economic system grew 9.2 per cent.
The financial growth was recorded at 7.4 per cent throughout January-March 2025, whereas it was 6.4 per cent in October-December 2024, 5.6 per cent in July-September 2024, and 6.5 per cent within the April-June quarter of the final monetary 12 months, in keeping with financial estimates launched by the NSO.
The NSO, in its second advance estimate launched in February, projected the GDP progress for 2024-25 at 6.5 per cent.
With PTI inputs
