Prime Minister Narendra Modi on Monday hailed the Economic Survey 2023-24 tabled by Union finance minister Nirmala Sitharaman, saying that it highlights the prevailing strength of Indian economy.
“The Economic Survey highlights the prevailing strengths of our economy and also showcases the outcomes of the various reforms our Government has brought. It also identifies areas for further growth and progress as we move towards building a Viksit Bharat,” the prime minister posted on social platform X.
According to the economic survey tabled in Parliament, India's GDP is likely to grow at 6.5-7 per cent in the current fiscal year. The growth projected for 2024-25 is lower than the economic growth rate of 8.2 per cent estimated for the previous financial year.
The Reserve Bank has projected the GDP growth for the fiscal year ending March 2025 at 7.2 per cent.
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According to the economic survey, “The short-term inflation outlook for the country is benign, and the expectation of a normal monsoon and moderating global prices of key imported items give credence to the projections made by the RBI and IMF.”
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The economic survey hailed the government's steps to boost exports and reduce dependence on Chinese imports.
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On Tuesday, Nirmala Sitharaman will present her seventh consecutive budget as finance minister. She will surpass the record set by former Prime Minister Morarji Desai, who presented five annual budgets and one interim budget between 1959 and 1964 as finance minister.
{{/usCountry}}On Tuesday, Nirmala Sitharaman will present her seventh consecutive budget as finance minister. She will surpass the record set by former Prime Minister Morarji Desai, who presented five annual budgets and one interim budget between 1959 and 1964 as finance minister.
{{/usCountry}}“This Budget is important budget for Amrit Kaal. Today's budget will decide the direction for the next 5 years of our term. This budget will also become a strong foundation of our dream of 'Viksit Bharat',” the prime minister had said earlier in the day.
(With PTI, ANI inputs)