RBI’s Survey of Professional Forecasters (SPF) on Macroeconomic Indicators has lowered the Real GDP growth for FY25 downward to 6.80%.
In the previous round (October), real GDP growth for FY25 was kept at 6.90%.
The SPF panellists reduced their forecasts for FY26 real GDP growth from 6.7% in the previous round (October) to 6.6%.
According to the RBI-conducted Survey of SPF, they projected GDP growth to be between 6.1 and 7.7% for FY25 and between 6.0 and 7.2% for FY26.
For FY25, real gross fixed capital formation (GFCF) and real private final consumption expenditure (PFCE) are predicted to expand by 7.9% (unchanged) and 6.2% (6.5% in the previous round), respectively.
The real gross value added (GVA) growth estimate was slightly lowered by the survey panellists to 6.7% for FY25 and 6.4% for FY26.
According to the regular survey, annual headline inflation based on CPI-Combined is anticipated to be 4.8% in FY25 (compared to 4.5% in the previous survey) and 4.3% in FY26 (compared to 4.4% in the previous survey).
The RBI’s updated estimate of 4.8% CPI inflation for FY25 is in line with the SPF’s revised estimate.
