World Bank projects Indian economy's growth rate at 7% in FY25

New Delhi: The Indian economy is projected to grow at 7 per cent in the current financial year on the back of recovery in the agriculture sector and rural demand.

According to the World Bank Report released on Tuesday, India's growth continues to be strong despite a challenging global environment.

The growth rate of India, which accounts for the bulk of the South Asia region, is expected to remain strong at 7 per cent in 2024-25, the World Bank said in the India Development Update.

Recovery in agriculture will partially offset a marginal moderation in industry, it said, adding that services will remain robust.

Rural private consumption will recover, thanks to the expected recovery in agriculture.