This story belongs to the Fortune India Magazine July 2025 issue.
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On May 30, North Block heaved a sigh of relief as the Indian economy clocked in 7.4% GDP growth in the fourth quarter of 2024-25. A rebound in the construction and manufacturing sectors propelled the fastest quarterly growth of the fiscal. For policymakers in New Delhi, the figures came as a much-needed reprieve as not only did the economy spring back from the lows of 5.6% growth logged in the second quarter of FY25, but the momentum continues in the current financial year, the finance ministry stated.