• UGI USER
  • Apr 30, 2024
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NCAER FORECASTS GDP GROWTH EXCEEDING 7% THIS YEAR

Why in the news?

NCAER predicts India’s GDP growth may exceed 7% for 2024-25, citing positive monsoon forecast and global economic prospects.

About the GDP Growth Forecast:

  • NCAER predicts India’s GDP growth may exceed the Reserve Bank of India’s estimate of 7% for 2024-25.
  • Positive factors include expectations of an above-normal monsoon, upgraded global growth prospects, and increased trade volumes.
  • NCAER Director General Poonam Gupta highlights high-frequency indicators performing well in March and April, indicating favourable economic conditions.
About National Council for Applied Economic Research (NCAER):

  • Established in 1956, NCAER is India’s oldest and largest independent economic policy research institute.
  • Conducts grant-funded and commissioned research for governments and industries.
  • Specialises in collecting primary data and operates in thematic areas like growth, macroeconomics, trade, investment climate, agriculture, poverty, and human development