New Delhi: Economic survey report for the year 2023-24 says that the economic condition of the country is strong. The economy of the country is strong enough to face the challenges at the global level. 20 percent growth over 2020 achieved in 2024. Inflation is under control. According to the report, inflation is at the lowest rate in the last four fiscal years. Finance Minister Nirmala Sitharaman tabled the economic survey report in the Lok Sabha.
India stands on a strong foundation. The Indian economy is likely to perform well in the coming financial year as well. GDP growth is expected to grow by 6.5-7 percent in the current financial year. Nirmala Sitharaman stated that the progress in GDP will depend on the country’s financial markets, climate challenges and geopolitical issues.
Retail inflation has come down to 5.4 percent in 2024. In 2023, it was 6.7 percent. India’s real GDP is projected to grow by 8.2 percent in 2023-24. Eight percent growth was recorded in three of the four quarters. Real GDP growth has been above 7 percent for the last three consecutive years. The economic survey report also assesses this as part of improved consumer demand and investor demand.
The annual unemployment rate has fallen sharply. This is according to post-epidemic figures. Citing the Annual Periodic Labor Force Survey (PLFS), Nirmala Sitharaman pointed out that the unemployment rate among persons above the age of 15 years is decreasing. Budget presentation is tomorrow. The Union Budget will be presented tomorrow, the first of the third Modi government and the seventh of Nirmala Sitharaman.
Prime Minister Narendra Modi said that the budget to be presented in Parliament tomorrow is the roadmap for the next five years and the cornerstone of the dream of 2047 Vikasit Bharat. Modi said that the budget session will be constructive and we should stand together to fulfill the needs of the people. This will be an important budget during the Amrita period. The Prime Minister said that all the people’s representatives should cooperate for the smooth conduct of the budget session.
