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NCAER director general Poonam Gupta said, “GDP growth during 2024-25 may turn out to be higher than 7 per cent and even closer to 7.5 per cent.” This outlook is underpinned by the buoyancy in economic activity witnessed in the first quarter, a keen policy focus on investment, growth, and macroeconomic stability and the expectations of normal monsoon, Gupta added.
With inflation seemingly having peaked, monetary policy is unlikely to be tightened any further, she said, “Finally, global environment seems benign as well in the absence of any known global risks so far.” Gupta said that taming food prices remains a challenge. “A broader policy framework may be needed to address it, including building climate-resilient food supply as also a gentle shift toward packaged and preserved food supply to bridge the periodical supply and demand gap that has become routine,” she added.