💨 Abstract

The State Bank of India's report predicts a significant rise in per capita nominal GDP in FY25, despite a slowdown in real and nominal GDP growth. The private consumption, the report notes, has been the main driver of economic growth, growing at 7.3% in real terms in FY25. On a per capita basis, private consumption increased by 6.3%, indicating a robust recovery in consumer spending.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖