Indian Economy on Strong Wicket, Says Economic Survey 2024
GDP Growth Projected at 6.5-7% in FY25
The Economic Survey 2024, tabled in Parliament by Finance Minister Nirmala Sitharaman today, projects a real GDP growth of 6.5-7% for the fiscal year 2024-25 (FY25). The survey highlights the government's timely policy interventions and the Reserve Bank of India's price stability measures as key factors in maintaining the economy's resilience.
PM Modi: A Matter of Pride
"It is a matter of pride that after 60 years a government has come to power for the third time and will present the first Budget," said Prime Minister Narendra Modi, addressing the Parliament after the survey's presentation. "The Economic Survey document may also give some hints about the actual sound and shape of the upcoming Budget for 2024-25."
Survey Highlights
The survey acknowledges the global economic headwinds, including the Russia-Ukraine conflict and inflationary pressures, but expresses confidence in India's ability to navigate these challenges. It emphasizes the strong performance of the agriculture, manufacturing, and services sectors, as well as the government's focus on infrastructure development and digital transformation.
Conclusion
The Economic Survey 2024 paints a positive picture of the Indian economy, projecting a strong growth trajectory in the coming year. The government's commitment to fiscal prudence, structural reforms, and social welfare measures is expected to further bolster the economy's resilience and provide a solid foundation for sustained growth and development.
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