India's GDP growth forecast drops to 6.4% for 2024-25 as experts question data accuracy

India's GDP growth rate is projected to decline to 6.4% for 2024-25, down from 8.2% in 2023-24. This estimate is lower than the 6.5% to 7% range predicted earlier. Nominal GDP growth is also expected to fall to 9.7%. Experts have raised concerns about the accuracy of these GDP estimates, citing issues with the data collection methods. The International Monetary Fund has suggested improvements to the statistics, highlighting discrepancies between different economic indicators. Investment growth is also slowing, with real gross fixed capital formation expected to drop from 9% in 2023-24 to 6.4% in 2024-25. Public spending remains crucial for economic stability, but tax revenue growth has been weak, complicating budgetary plans.