New Delhi, March 6 (Punjab Khabarnama):Crisil Ratings on Wednesday projected India’s GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to USD 7 trillion.
In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain—perhaps even improve—its growth prospects to become the third largest economy by 2031.“After a better-than-expected 7.6 per cent this fiscal, India’s real GDP growth will likely moderate to 6.8 per cent in fiscal 2025,” said the Crisil India Outlook report.
It said that the next seven fiscals (2025-2031) will see the Indian economy crossing the USD 5 trillion-mark and inching closer to USD 7 trillion.“A projected average expansion of 6.7 per cent in this period will make India the third-largest economy in the world and lift per capita income to the upper-middle income category by 2031,” Crisil said.
India, with a GDP size of USD 3.6 trillion, is currently the fifth largest economy in the world, after the US, China, Japan and Germany.
Crisil expects the economy to expand to USD USD 6.7 trillion by fiscal 2031
