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1. What is the revised GDP growth forecast for India for FY25 according to NIPFP?
The National Institute of Public Finance and Policy (NIPFP) has revised India's GDP growth forecast for FY25 to a range of 6.9-7.1%. This adjustment reflects a notable moderation in growth observed during the June quarter, largely due to a significant contraction in net exports and reduced government consumption, influenced by the election model code of conduct. Previously, NIPFP had estimated a higher growth range of 7.1-7.4%. The downgrade highlights the challenges facing the economy, including a reported 19.5% decrease in capital expenditure during the April-August 2024 period compared to the previous year.