Economic Survey 2024 Highlights India's Resilient Growth and Future Prospects
The report showcases strong GDP growth, fiscal consolidation, and areas for further development as India aims for 'Viksit Bharat'.
- India's real GDP growth reached 8.2% in FY24, with projections of 6.5-7% for FY25.
- Fiscal deficit reduced from 6.4% to 5.6% of GDP, driven by increased revenue receipts and capital expenditure.
- Manufacturing and services sectors showed significant growth, with notable increases in GVA and GST collections.
- Employment rates improved, with a decline in unemployment and rising female workforce participation.
- Energy transition challenges highlighted, emphasizing the need for advanced technologies and international cooperation.