<h1>Economic growth projection: India's real GDP expected to grow amid fiscal consolidation and potential external risks.</h1> India's real GDP is projected to grow 6.5-7 per cent in 2024-25 after 8.2 per cent growth in FY24, driven by consumption and strengthening investment. Manufacturing and construction recorded strong growth while services remain the largest GVA contributor. Fiscal consolidation continued with the Union fiscal deficit at 5.6 per cent of GDP and elevated capital expenditure supporting growth. Inflation moderated to 5.4 per cent, the RBI held rates amid global uncertainty, banking asset quality improved to a 12 year low GNPA, and external balances reflected comfortable reserves and a low current account deficit, though geopolitical risks could disrupt this outlook.