NEW DELHI: The Indian economy is slowing and is likely to post the weakest GDP growth numbers since 2021-22, according to the first advance estimate by the National Statistics Office (NSO). The NSO data, released on Tuesday, show that real GDP growth in FY25 is likely to have decelerated to 6.4% compared to 8.2% in the previous financial year. NSO’s estimate for FY25 is lower than the 6.6% growth forecast by the Reserve Bank of India. If GDP grows at 6.4% in FY25, it will be the lowest since FY21 when the country witnessed a negative growth of 5.8% due to the pandemic. Growth recovered to 9.7% in FY22 largely due to the base effect, and it grew 7% in FY23. The moderation in growth expectation can be attributed to the slow pickup in government and private investments, which grew at 6.4% in FY25, compared with 9% in FY24.
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