India's economy is expected to grow 6.4% in the current fiscal year ending March, the National Statistics Office said on Tuesday, below the initial government projection of 6.5%-7%.

India’s government lowered its economic growth projection for the fiscal year to the weakest since the pandemic after consumers cut back on spending and public investment slowed.

This is the slowest annual GDP growth rate since the pandemic, when it fell down to 5.8% during the financial year 2020-21.

India's GDP is projected to expand by 6.4% in the financial year 2024-25, a decline from the 8.2% growth recorded in FY24, according to government data released on Tuesday. The second quarter witnessed slower-than-anticipated growth at 5.

The Indian economy is projected to grow at 6.4% in 2024-25, down from 8.2% in the previous fiscal year, according to the National Statistical Office (NSO), which released its first advance estimates for national accounts on Tuesday.

Certificates of deposit, which reached a decadal peak of INR 4.9 trillion as of November, 2024, reflect this dynamic. While this figure surpasses the previous high of INR 4.5 trillion recorded in April 2011,