December, marginally below expectations but faster than in the previous quarter on the back of increased government and consumer spending, data released on Friday showed. The growth in gross domestic product was slightly lower than the 6.

A report by the World Bank stated that India will need to accelerate reforms to achieve an average annual growth rate of 7.8 per cent for becoming a high-income economy by 2047.

The Indian economy’s growth is expected to slow in the 2024–25 fiscal year, casting a shadow over its aspirations of becoming a developed country by 2047.