Key Findings

Economic Survey 2023-24: Robust Growth, Fiscal Health, and Challenges

Key Findings

The Economic Survey 2023-24, presented by the Indian government ahead of the Union Budget, highlights several key findings:

Robust Economic Growth

India's real GDP grew by 8.2 percent in FY24, exceeding the 8 percent mark in three out of four quarters. This robust growth is attributed to strong domestic demand and export performance.

Improved Fiscal Health

The Survey notes a significant improvement in India's fiscal health, with a fiscal deficit of 4.5 percent of GDP in FY24. This is attributed to increased tax revenues and prudent expenditure management.

Challenges Ahead

While highlighting the positive economic outlook, the Survey also acknowledges challenges facing the Indian economy, including rising inflation, geopolitical uncertainties, and the need for structural reforms.

Conclusion

The Economic Survey 2023-24 provides a comprehensive assessment of the Indian economy and lays the foundation for the upcoming Union Budget. It underscores the robust growth achieved in recent years, the improved fiscal health of the nation, and the challenges that need to be addressed to sustain economic development.

As Finance Minister Nirmala Sitharaman presents the Union Budget on July 23, 2024, the insights provided by the Economic Survey will serve as valuable indicators for shaping policy decisions and charting the course for India's economic future.