India's economy is expected to grow at around 6.5% in fiscal year 2024/25, closer to the lower end of its 6.5%-7% projection, as global uncertainties pose a dampening threat, the government said on Thursday.

The report also highlights the positive effect of the RBI's decision to reduce the cash reserve ratio (CRR) from 4.5 per cent to 4 per cent in its most recent monetary policy meeting

India is expected to grow at around 6.5% in the fiscal year 2024/25, closer to the lower-end of its 6.5%-7% projection, as global uncertainties pose a threat to domestic growth, the government said on Thursday.

India expects the economy to grow at around 6.5% in the year through March, against 8.2% a year before, after the economy slowed unexpectedly in the July-September quarter.

The Indian economy faces a growth slowdown as it enters 2025. GDP growth has declined in four out of the last five quarters, falling from over 8% in mid-2023 to less than 5.5% by September 2024. High-frequency indicators confirm this trend,