Ahead of the Union budget presentation in the Lok Sabha on July 23, the Finance Minister of the country, Nirmala Sitharaman is set to table the Economic Survey Report of the country, a snapshot of the country’s economic performance, in the Parliament on July 22 (Monday).
The Economic Survey which is more than just a document or a report provides a detailed analysis of the country's economic health.
The survey, providing a snapshot and detailed analysis highlighting about the country's economy and will be presented a day before the Union Budget 2024. Moreover, it stands as an important document for understanding the current economic landscape and challenges ahead.
Nirmala Sitharaman | File
This time it is prepared by the Chief Economic Adviser V Anantha Nageswaran and his team, provides detailed accounts of various sectors including employment, GDP growth, inflation, and the budget deficit.
Current Economic Performance
India which is one of the fastest growing economy in the world has had recently revised its growth forecast for the fiscal year 2025, raising it from the previous 6.8 per cent to 7 per cent currently, according to IMF.
Furthermore, the Reserve Bank of India (RBI) of the country have also updated its growth forecast, changing it from 7 per cent to 7.2 per cent.
Over the the past three years, the country's average growth stands at 8.3 per cent.
In addition, in the fiscal year 2023-24, India contributed 18.5 per cent to global economic growth.
As we the country keenly awaits for the Economic Survey, policymakers, businesses, and investors will be observing and analysing the various sectorial developments, employment trends, inflation and budget deficit, growth projections and so on.
(With inputs from agencies)
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