6.5-7% GDP Growth in FY 25: Govt Present Economic Survey Report in Parliament
- By Thetripurapost Desk, New Delhi
- Jul 22, 2024
- 354
The central government will present the Budget 2024-25 on July 23 and before that the PM Modi-led government has presented the country's Economic Survey on the floor of Parliament. The Economic Survey was presented by Finance Minister Nirmala Sitharaman in the Lok Sabha at 12:10 pm.
In this economic survey, the government's entire focus has been on the agriculture sector, private sector and PPP. India's GDP was mentioned in the Economic Survey FY25 presented by Modi 3.0.
It said that the country's GDP growth is estimated to be 6.5 to 7 percent.
While the government has estimated the country's GDP growth in the Economic Survey, the government has also mentioned a big challenge in this economic survey. The government says that due to global challenges, the country could face a slight setback on the export front, but the government is fully alert about this as well. It has been said that there is a possibility of challenges in global business. Actually, global uncertainty could have an impact on capital flow.
Data regarding employment has been presented in this Economic Survey, which presents a complete picture of the health of the country's economy. It has been said that the country's annual unemployment rate has been declining since the Corona epidemic with growth in the population ratio. In March 2024, the urban unemployment rate for the 15+ age group has come down to 6.7% from 6.8% last year.
It says that about 57% of India's total workforce is self-employed. The youth unemployment rate has fallen from 17.8% in 2017-18 to 10% in 2022-23. The survey also says that there is a need to create about 78.5 lakh employment opportunities on an average every year in the non-agricultural sector by the year 2030.
The effect of the increase in the pace of private investment is visible due to the emphasis on capital expenditure by the government and the continuous increase in private investment, which has given a boost to Gross Foxed Capital Formation. According to the Economic Survey, a strong increase of 9 percent has been registered in it in 2023-24.
It has estimated that India's fiscal deficit is likely to come down to 4.5 percent by FY26. It has been said that the government's entire focus is on increasing the capacity of the states.
Highlights of economic survey
CAPEX of Rs 72000 crore in airport sector
It is important to strike a balance between education and employment
Focus is necessary on increasing the capacity of the states
Emphasis on making India a global drone hub by 2030
Tremendous increase in real GDP growth
The survey said that the country has made a rapid recovery after the corona epidemic and after this there has been a strong jump in India's real GDP growth. Presenting the figures, the survey said that India's real GDP growth in the financial year 2024 has increased by 20 percent compared to the financial year 2020.
If we look at the report of the Economic Survey, it has been said about the stock market that the primary market generated capital of Rs 10.9 lakh crore in the financial year 2024, whereas this figure was Rs 9.3 lakh crore in the financial year 2023. The Nifty-50 index of the stock market rose by 26.8 percent during FY 24, which was down by 8.2 percent in the previous financial year