Economic survey: In the Economic Review, the growth rate of GDP (GDP) for the next financial year 2025-26 can be estimated from 6.3 to 6.8 per cent. Sources gave this information. Written Economic Review of Chief Economic Advisor (CEA) V. Anant Nagswaran and his party will be presented in Parliament today i.e. on Friday afternoon.
According to an estimate by the National Statistics Office (NSO), due to weak manufacturing and investment, India’s GDP is estimated to grow at a rate of 6.4 percent in the current financial year 2024-25, which is the lowest level of four years. This is less than an estimated 6.5-7 percent growth rate in last year’s Economic Review and 6.6 percent of the Reserve Bank of India.
Economic review to be introduced every year before the Union Budget gives information about the extensive details of the large economic performance of the current financial year and the situation in the next financial year.
How was the Economic Survey of the last financial year?
Reviewing the growth rate and economic status of the previous financial year in India, it has been revealed that FY24 recorded an increase of 8.2% in the country’s actual GDP (GDP). The main reason for this increase was the increase in stability and investment demand in consumption demand.
During the financial year, the fiscal deficit declined to 5.6% of GDP, the credit for which can be given to the increase in direct and indirect tax and tax revenue received from the Reserve Bank of India (RBI).
India’s capital expenditure (CAPEX) was ₹ 9.5 lakh crore during fY 2023-24. At the same time, budget experts on interest payment were recorded at 30.4% of the total revenue experts.
In India, the average retail inflation stood at 5.4 percent in the financial year 2023-24 as compared to 6.7 percent in the financial year 2022-23, the lowest after the Kovid-19 epidemic. However, food inflation was seen to have a sharp rise and reached 7.5% in FY 2023-24, while it was 3.8% in FY 2021-22.