IMF Raises India’s GDP Growth Forecast to 7% for FY25

The International Monetary Fund (IMF) on Tuesday expressed optimism about India’s economic trajectory, upgrading the country’s growth forecast for the 2024-25 fiscal year to 7%.This marks a positive revision from the previous estimate of 6.8% and reflects the strengthening of private consumption, particularly in rural areas.The global financial institution, however, maintained its projection for India’s GDP growth at 6.5% for the subsequent fiscal year, 2025-26, as outlined in its latest World Economic Outlook report.It’s worth noting that this is the second upward revision for India’s growth forecast this year. In April, the IMF had already raised its prediction from 6.5% to 6.8%.
Benchmark stock indices, Sensex and Nifty, continued their upward trajectory on Tuesday, marking their third consecutive day of record-breaking highs. The indices were propelled by robust buying in FMCG, telecom, and select IT stocks, coupled with sustained foreign investor inflows.The 30-share BSE Sensex climbed 0.06% to close at a historic high of 80,716.55 points, while the broader NSE Nifty advanced 0.11% to settle at an all-time peak of 24,613 points. Both indices touched fresh intraday records throughout the trading session, with Sensex reaching 80,898.30 points and Nifty scaling to 24,661.25 points.The ongoing rally, which commenced on Friday, is primarily attributed to foreign institutional investors (FIIs) increasing their exposure to Indian equities ahead of the upcoming Union Budget. Additionally, strong quarterly results from blue-chip companies have bolstered market sentiment, despite concerns over elevated valuations.Among the Sensex constituents, Hindustan Unilever, Bharti Airtel, Tech Mahindra, Infosys, Mahindra & Mahindra, ICICI Bank, ITC, and Asian Paints emerged as top gainers. Conversely, Kotak Mahindra Bank, Reliance Industries, NTPC, UltraTech Cement, and Power Grid faced selling pressure.
First Selection Merit List for +2 Admissions in Odisha To Be Released on July 20
The India Meteorological Department (IMD) has issued a warning for heavy to very heavy rainfall in Odisha until July 19 due to two low-pressure systems developing over the Bay of Bengal.

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