New Delhi, 26 April (HS): Financial consulting company Deloitte India has estimated India's economic growth rate to be 6.6 percent in the current financial year 2024-25. Deloitte has cited the boom in exports and capital inflow as the main reasons for this.

Deloitte India, in its report released on India's economic outlook on Friday, said that India's gross domestic product (GDP) growth rate is estimated to be 6.6 percent in the current financial year 2024-25. According to the report, the purchasing power has increased due to the rapid growth of the middle income group. Demand for premium luxury products and services has also arisen.

The financial consultancy company has also revised India's economic growth rate forecast for the last financial year 2023-24 to between 7.6 percent and 7.8 percent. Deloitte in January had estimated the GDP growth rate for the last financial year to be in the range of 6.9 to 7.2 percent.

Deloitte said in its economic outlook that the country's GDP growth rate is expected to reach about 6.6 percent in the current financial year 2024-25 and 6.75 percent in the next financial year. Rumki Majumdar, economist at financial consultancy Deloitte India, said in a statement that the global economy is expected to see a synchronous transformation in 2025.

The union Finance Ministry, in its Monthly Economic Review report released a day earlier, said that despite challenges globally, India remains the fastest growing major economy.

Hindusthan Samachar/ Indrani/Manoj