Key Takeaways from the Economic Survey 2024

The Economic Survey 2024 projects India’s real GDP growth between 6.5% and 7% for FY 2025, driven by robust public investment and a rebound in private sector capital formation. Despite global volatility, India’s growth outlook remains resilient.

Key Highlights:

1. Economic Growth: India’s growth is fueled by infrastructure development and strong investment in key sectors. Headline inflation is projected to remain stable at around 4.5% in FY25.
2. Fiscal Developments: Revenue collections, particularly from GST, have increased, enhancing overall government revenue. The fiscal deficit is projected to be 5.1% of GDP for FY25.
3. Monetary Policy: Inflation is under control, with the RBI maintaining a repo rate of 6.5%. The banking sector’s GNPA ratio has fallen to a 12-year low of 2.8%.
4. Trade and Exchange Rate: The current account deficit reduced to 0.7% of GDP in FY24, with the Indian Rupee remaining stable.
5. Sectoral Analysis: Industrial growth has accelerated, with significant contributions from the MSME sector. The services sector continues to be a major growth driver.
6. Climate Change: India reduced its emission intensity by 33% between 2005 and 2019 and aims for 500 GW of installed electricity capacity from non-fossil sources by 2030.

For more in-depth insights, read the complete Economic Survey 2024 

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