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.

Deloitte India Economist Rumki Majumdar said the growth in the first half of the fiscal year 2025 turned out to be slower than estimated as election uncertainties followed by disruptions in activity due to heavy rainfall and geopolitical events weighed on domestic demand and exports.

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.

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 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.