Goldman Sachs Group has cut India’s GDP forecast for 2024 and 2025 by 20 basis points, citing reduced central government spending. The bank now expects the country’s calendar economic growth to be 6.7% in 2024 and 6.4% in 2025.
The cut in GDP estimates for the current year is due to the 35 per cent year-on-year fall in government spending during the Lok Sabha elections in the April-June quarter. US Bank economist Shantanu Sengupta wrote in his report that the 2025 growth rate will be affected because the government budget has set a target of bringing the fiscal deficit below 4.5 per cent of GDP (gross domestic product).
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I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,
