India's Economy Soars: NSO Predicts 7.4% Growth, Defying Critics

• NSO estimates India's economy to grow at a robust 7.4% in FY 2025-26, significantly up from 6.5% last year.
• The service sector, including banking, real estate, and professional services, is projected to be the biggest growth engine with 9.9% expansion.
• Manufacturing and construction activities are expected to grow by 7%, boosting employment and investment.
• Private consumption is estimated to rise by 7%, with gross fixed capital formation increasing by 7.8%, signaling strong domestic demand.
• RBI's similar forecast of 7.3% growth highlights positive factors like strong rural demand, increased bank credit, and a favorable monetary environment.

Why It Matters: India's economy is set for strong 7.4% growth in FY26, driven by services and robust domestic demand.