New Delhi, Aug 22 (Reporter) Noting that Indian economy has sustained its momentum in the first four months of ongoing fiscal 2024-25, the latest edition of monthly economic review released by Finance Ministry on Thursday said that the projection of real GDP (gross domestic product) growth of 6.5-7% for the FY25 made in the Economic Survey for 2023-24 seems appropriate as of now. The monthly economic review (MER) for the month of July 2024 said that goods and services tax (GST) collections in the first four months of FY25 underwent a level shift pushed up by the widening of the tax base and heightened economic activity. "The double-digit growth in e-way bill generation reflects sustained economic activity. This is expected to result in higher GST collections in the coming months," it said. The report said that inflation is moderating, and exports of both goods and services are doing better than they did last year. It noted that stock markets are holding on to their levels and foreign direct investment is looking up as gross inflows are rising. While highlighting the favourable developments, the report noted that consumer confidence in the current economic situation, employment, price level, and income has declined as reflected in the Current Situation Index of the RBI’s Consumer Confidence Survey. It further said that households’ optimism about economic conditions for the year ahead has declined from the previous survey round. "Further, lower optimism on the general economic situation, employment and prices led to a moderation in the future expectations index of the Consumer Confidence Survey15 in July 2024. The industrial outlook survey of the manufacturing sector, also conducted by the central bank, showed a decline in both the current assessment and the expectations indices of business sentiment in August," it said. The MER noted that both the consumer and the industrial outlook surveys need to be monitored for future trends. "As of now, the projection of real GDP growth of 6.5-7.0 per cent for FY25, made in the Economic Survey for 2023-24, seems appropriate," it concluded...////...