Prime Minister Narendra Modi has said that India’s ‘Reform Express’ continues to gain momentum, as the country’s GDP is estimated to grow at 7.4% during current fiscal year, compared to 6.5% during the last financial year. Reacting to the figures, Prime Minister said that the growth outlook is being driven by the NDA government’s sustained investment push and demand-led policy measures.
In a social media post, Mr Modi said, efforts across infrastructure development, manufacturing incentives, digital public goods and ease of doing business are aimed at realising the vision of a prosperous India. National Statistics Office (NSO) data showed that strong performance in the services sector remains a key growth driver. Financial services, real estate, professional services and public administration are projected to grow by 9.9 per cent at constant prices in the current fiscal.
Trade, hotels, transport, communication and broadcasting-related services are estimated to expand by 7.5 per cent. Growth in the secondary sector is expected to remain steady, with manufacturing and construction projected to grow by 7 per cent, while agriculture is estimated to record a growth rate of 3.1 per cent. Real Private Final Consumption Expenditure (PFCE) is projected to grow by 7 per cent in Financial Year 2025-26, supported by income tax exemptions announced in the Union Budget and subsequent GST rate cuts across goods and services.
