Why India’s Growth Momentum Is Losing Steam

Quick Summary:

The slowdown should be a wake-up call for the government to take remedial action, especially to address weakness on the demand side.

A recent report prepared for the government by the industry chamber, Federation of Indian Chamber of Commerce and Industry (FICCI), and Quess Corp Ltd, a business services provider, showed that while nominal wages across six major manufacturing and infrastructure sectors increased by 0.8-5.4 percent, retail inflation was between 4.8 percent and 5.7 percent, implying either stagnant or declining real wages.

The slowdown of the Indian economy was confirmed by the National Statistics Office (NSO) when its recently unveiled advance estimates of GDP for the 2024-25 fiscal year showed that the economy could grow by 6.4 percent, nearly 2 points slower than the previous year.

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Article Details

Author / Journalist: Biswajit Dhar

Category: Economy

Markets: United StatesChinaIndiaNorth KoreaLaosMyanmarPakistanTaiwanThailandUkraineVietnam

Topics: Percent Private India’s Growth Government Fiscal Economy Indian 2024 Investment Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-29 @ 00:36:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2358 words

Reading Time: 14 minutes read

Sentences: 97 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 25587247

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