​Chapter 1: State of the Economy – Steady as She Goes

  • The Economic Survey projects a conservative real GDP growth of 6.5-7%, with risks evenly balanced, noting higher market expectations.
  • India's economy maintained a momentum from FY23 into FY24 despite external challenges, thanks to a focus on macroeconomic stability.
  • India's real GDP grew by 8.2% in FY24, surpassing 8% in three out of four quarters.
  • Gross Value Added (GVA) grew by 7.2% and net taxes at constant prices grew by 19.1% in FY24.
  • Retail inflation reduced from 6.7% in FY23 to 5.4% in FY24 through adept administrative and monetary policies.
  • The Current Account Deficit (CAD) improved to 0.7% of GDP in FY24 from 2.0% in FY23.
  • Post-pandemic, ....
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