Page 17 - Policy Economic Report - April 2025
P. 17
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
Figure 10: GDP growth rates (2025-26)
Source- IMF World Economic Outlook, April 2025
Inflation in India
• Retail inflation in India, as measured by the Consumer Price Index (CPI), fell to a remarkable 4.6%
in the fiscal year 2024-25, the lowest since 2018-19.
• Retail inflation in India has followed a steady downward path over the past three financial years,
falling from 6.7 percent in 2022–23 to 5.4 percent in 2023–24, and further to 4.6 percent in 2024–
25.
• Further, the decline in crude oil prices has further strengthened the disinflationary outlook.
Accordingly, Consumer Price Index (CPI) inflation for 2025–26 is projected at 4.0 per cent, with
quarterly estimates at 3.6 per cent in Q1, 3.9 per cent in Q2, 3.8 per cent in Q3, and 4.4 per cent
in Q4.
Figure 11: India’s retail inflation on a decline (in %)
Source- RBI
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