India’s economy is expected to grow only at a rate of 6.4% in 2024-25. This is the lowest growth rate in the last four years and the slump is attributed to a slowdown in manufacturing and urban consumption, according to the National Statistics Office (NSO).

The estimate falls below the Reserve Bank of India's (RBI) revised projection of 6.6% and lags behind government and agency forecasts of 6.5-7%. Manufacturing growth is set to decline to 5.3%, while farm sector growth is projected at 3.8%, aiding rural consumption.

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