New Delhi: The central government estimates that India’s economic growth rate will fall to 6.4 percent in 2024-25. This is true but it will be at least four years. Covid was recorded at -5.8 percent in the year 2020-21. But after recovery it was recorded at 9.7% in 2021-22, 7% in 2022-23 and 8.2% in 2023-24. But now it is again on the path of decline and it is expected to fall by 6.4%, the National Data Office (NSO) has released the figures. Poor growth in the manufacturing sector and service sector contributed to the decline in GDP.
How much progress in what?:
In 2023-24, the GDP growth of the manufacturing sector has decreased from 9.9 percent to 5.3 percent. The growth rate of the services sector, including business, hotel, communication and transport sectors, has slowed down from 6.4 percent to 5.8 percent. At the same time, NSO estimates that the growth of agriculture sector alone will be 1.4% to 3.8%. According to the estimates released recently by RBI, India’s growth will be 6.6%.
