New Delhi: Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman presented the Economic Survey 2024-25 in the Parliament today.
India’s real GDP growth is estimated at 6.4per cent inFY25 (as per first advance estimates of national income), which equates nearly to its decadal average.
Real gross value added (GVA) is also estimated to grow by 6.4 per cent FY25.
The global economy on an average grew by 3.3 per cent in 2023 against the IMF projection of 3.2 per cent growth in the next five years.
The real GDP growth in FY26 is expected to grow between 6.3 and 6.8 per cent, keeping in mind the upsides and downsides to growth.
Thrust on grassroots-level structural reforms and deregulation to reinforce the medium-term growth potential and boost global competitiveness of Indian economy.
Geopolitical tensions, ongoing conflicts and global trade policy risks continue to pose significant challenges to the global economic outlook.
Retail headline inflation has softened from 5.4 per cent in FY24 to 4.9 per cent in April –December 2024.
Capital expenditure (CAPEX) improved continuously from FY21 to FY24. Post general elections, CAPEX grew YOY by 8.2 per cent during July –November 2024.
India accounts for seventh-largest share in global services exports, underscoring India’s global competitiveness in the sector.
During April to December 2024, non-Petroleum and non-Gems & Jewellery exports went up by 9.1 per cent reflecting resilience of India’s merchandise exports amid volatile global conditions.