Economic think-tank National Institute of Public Finance and Policy on Friday said it has estimated India's GDP growth at 7.1% for the current fiscal, using high-frequency models.
NIPFP, in a series of tweets, said the Centre is on a fiscal consolidation path through buoyancy in taxes and revenue expenditure compression.
The economic think tank said that in 2023-24, states' capex growth is robust due to significant capex transfers from the Centre.
While the Asian Development Bank and Fitch Ratings have estimated India's growth at 7%, the International Monetary Fund, S&P Global Ratings and Morgan Stanley projected a 6.8% growth rate for FY25.
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