The Economic Survey 2023-24 was issued on July 22, 2025. The Economic Survey of India, published annually by the Ministry of Finance, is normally released one day before the Union Budget is presented in Parliament. This report, prepared by the Economics Division of the Department of Economic Affairs under the supervision of the Chief Economic Advisor, examines the previous year’s economic performance and forecasts the prognosis for the next year.<\/p>\n
It gives a detailed overview of the present health of the Indian economy, including major measures such as GDP, inflation, employment, and trade. The first Economic Survey was issued in 1950-51, and it was first provided alongside the Union Budget. However, since 1964, it has been released independently to ensure that the full economic evaluation and its ramifications receive the attention they deserve.<\/p>\n
Union Finance Minister Nirmala Sitharaman gave the Economic Survey for Fiscal Year 2023-24 on July 22, 2025, immediately following the President’s Address. This thorough study described the Indian economy’s performance during the previous year, evaluated future possibilities, highlighted obstacles, and made policy suggestions.<\/p>\n
The Survey found that inflationary pressures caused by global causes, supply chain disruptions, and irregular monsoons were effectively addressed by planned administrative and monetary policy. As a consequence, retail inflation fell to 5.4% in FY24 from an average of 6.7% in FY23. The research underlined that prompt government initiatives, together with the Reserve Bank of India’s price stability policies, effectively kept retail inflation at 5.4% in FY24, the lowest level since the epidemic.<\/p>\n
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The Economic Survey is not only for policymakers and economists; it is a must-read for anybody interested in India’s economic destiny. It gives insights into numerous industries, identifies difficulties and possibilities, and prepares the groundwork for the Union Budget. Staying informed through the Economic Survey allows you to make better informed decisions as an investor, company owner, or student.<\/p>\n
Despite geopolitical problems, the Indian economy is robust and stable. The post-Covid recovery has been cemented, with officials preserving economic and financial stability. However, sustaining recovery would need major internal efforts owing to the tough global context on topics like as trade, investment, and climate.<\/p>\n
The Economic Survey forecasts a real GDP growth rate of 6.5-7 percent in FY25. Despite global economic uncertainty, domestic development factors boosted economic growth in FY24. Improved private sector balance sheets and robust investment demand, together with a normal rainfall outlook, are expected to enhance agriculture and rural demand. Structural changes like the GST and IBC are producing the intended outcomes.<\/p>\n
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Inflationary pressures caused by global difficulties, supply chain disruptions, and monsoon changes have been addressed by administrative and monetary interventions. Retail inflation fell to 5.4% in FY24, from 6.7% in FY23. This decline was caused by a drop in core inflation for both goods and services. Despite issues in the agricultural sector, food inflation was 7.5% in FY24. The RBI expects inflation to decline to 4.5% in FY25 and 4.1% in FY26.<\/p>\n
The general government’s budgetary balance has improved despite increased public spending. Procedural changes, spending cuts, and more digitization have all helped to achieve this balance. In FY24, the current account deficit (CAD) was 0.7% of GDP, down from 2% in FY23. India’s budget deficit decreased from 6.4% of GDP in FY23 to 5.6% in FY24.<\/p>\n
Global issues such as geoeconomic fragmentation, climate change, technology improvements, and restricted policy space will all have an impact on medium-term growth prospects. Key policy priorities include job and skill creation, maximizing the agricultural sector’s potential, addressing MSME issues, managing India’s green transition, and addressing inequality.<\/p>\n
Amrit Kaal’s growth plan focuses on six major areas: increasing private investment, developing MSMEs, acknowledging agriculture’s development potential, obtaining funding for the green transition, closing the education-employment gap, and strengthening state capacity.<\/p>\n
India is moving forward with a revised approach to welfare, emphasizing empowerment, universal access to needs, and more private sector engagement. The NEP 2020 is revolutionizing education, while Ayushman Bharat is considerably lowering out-of-pocket healthcare costs for low-income households.<\/p>\n
Indian labor market indicators have improved, with the jobless rate falling to 3.2% in 2022-23. Rising youth and female employment engagement creates potential for demographic and gender dividends. Government measures include promoting employment, self-employment, and worker well-being.<\/p>\n
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The Economic Survey 2023-24 focuses on India’s strong economic recovery and promising growth prospects. With continuous policy initiatives and structural changes, India is well positioned to meet its growth targets in the coming years. Check out nowonline.in for more useful articles on money, economics, and investments.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Economic Survey 2023-24 was issued on July 22, 2025. The Economic Survey of India, published annually by the Ministry of Finance, is normally released one day before the Union Budget is presented in Parliament. This report, prepared by the Economics Division of the Department of Economic Affairs under the supervision of the Chief Economic … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":3041,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-3031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n