National

SUMMARY OF ECONOMIC SURVEY 2024-25

INDIA’S GDP EXPECTED TO GROW BETWEEN 6.3 & 6.8 PER CENT IN FY26

REAL GDP ESTIMATED AT 6.4 PER CENT IN FY25, CLOSE TO ITS DECADAL AVERAGE

REAL GVA ESTIMATED TO GROW BY 6.4 PER CENT IN FY25

CAPEX GROWS AT 8.2 PER CENT IN JULY – NOVEMBER 2024 AND EXPECTED TO PICK UP FURTHER PACE

RETAIL HEADLINE INFLATION SOFTENED TO 4.9 PER CENT IN APRIL-DECEMBER 2024

INDIA’S CONSUMER PRICE INFLATION TO ALIGN WITH THE TARGET OF AROUND 4 PER CENT IN FY26

OVERALL EXPORTS GROW 6.0 PER CENT (YOY) DURING APRIL-DECEMBER 2024

INDIA’S SERVICES EXPORT GROWTH SURGED TO 12.8 PER CENT DURING APRIL–NOVEMBER FY25, UP FROM 5.7 PER CENT IN FY24

GROSS FDI INFLOWS INCREASE FROM USD 47.2 BILLION IN FIRST EIGHT MONTHS OF FY24 TO USD 55.6 BILLION IN THE SAME PERIOD OF FY25, A YOY GROWTH OF 17.9 PER CENT

FOREX AT USD 640.3 BILLION AS OF END OF DECEMBER 2024, SUFFICIENT TO COVER 10.9 MONTHS OF IMPORTS AND APPROXIMATELY 90 PER CENT OF EXTERNAL DEBT

CAPACITY ADDITION IN SOLAR AND WIND POWER INCREASES 15.8 PER CENT YEAR-ON-YEAR IN DECEMBER 2024

BSE STOCK MARKET CAPITALISATION TO GDP RATIO AT 136 PER CENT AT THE END OF DECEMBER 2024, FAR HIGHER THAN CHINA (65 PER CENT) AND BRAZIL (37 PER CENT)

ECONOMIC SURVEY ADVOCATES DEREGULATION TO ACCELERATE AND SUSTAIN ECONOMIC GROWTH

CONTINUED STEP-UP OF INFRASTRUCTURE INVESTMENT OVER NEXT TWO DECADES NEEDED TO SUSTAIN A HIGH GROWTH

₹50,000 CRORE SELF-RELIANT INDIA FUND LAUNCHED TO PROVIDE EQUITY FUNDING TO MSMES

AGRICULTURE EXPECTED TO GROW AT 3.8 PER CENT IN FY25

KHARIF FOODGRAIN PRODUCTION FOR 2024 IS EXPECTED TO REACH 1647.05 LMT, AN INCREASE OF 89.37 LMT OVER PREVIOUS YEAR

KEY DRIVERS OF AGRICULTURAL GROWTH ARE HORTICULTURE, LIVESTOCK & FISHERIES

INDUSTRIAL SECTOR ESTIMATED TO GROW BY 6.2 PER CENT IN FY25

SOCIAL SERVICES EXPENDITURE REGISTERS AN ANNUAL GROWTH RATE OF 15 PER CENT BETWEEN FY 21 AND FY 25

GOVERNMENT HEALTH EXPENDITURE INCREASES FROM 29.0 PER CENT TO 48.0 PER CENT; SHARE OF OUT OF POCKET EXPENDITURE IN TOTAL HEALTH EXPENDITURE DECLINES FROM 62.6 PER CENT TO 39.4 PER CENT BETWEEN FY15 AND FY22

UNEMPLOYMENT RATE DECLINES TO 3.2 PER CENT IN 2023-24 (JULY-JUNE) FROM 6.0 PER CENT IN 2017-18 (JULY-JUNE)

COLLABORATIVE EFFORT BETWEEN GOVERNMENT, PRIVATE SECTOR, AND ACADEMIA ESSENTIAL TO MINIMISE ADVERSE AI SOCIETAL EFFECTS

New Delhi (thestates.news)|  “The global economy grew by 3.3 per cent in 2023. The International Monetary Fund (IMF) projects global growth to average around 3.2 per cent over the next five years, which is modest by historical standards”, says the Economic Survey 2024-25 tabled by Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman, in the Parliament today.

As per the Survey, the global economy exhibited steady yet uneven growth across regions in 2024. A notable trend was the slowdown in global manufacturing, especially in Europe and parts of Asia, due to supply chain disruptions and weak external demand. In contrast, the services sector performed better, supporting growth in many economies. Inflationary pressures eased in most economies. However, services inflation has remained persistent, notes the Survey.

The Survey highlights that, despite global uncertainty, India has displayed steady economic growth. India’s real GDP growth of 6.4 per cent in FY25 remains close to the decadal average.

From an aggregate demand perspective, private final consumption expenditure at constant prices is estimated to grow by 7.3 per cent, driven by a rebound in rural demand.

On the supply side, the real gross value added (GVA) is estimated to grow by 6.4 per cent. The agriculture sector is expected to rebound to a growth of 3.8 per cent in FY25. The industrial sector is estimated to grow by 6.2 per cent in FY25. Strong growth rates in construction activities and electricity, gas, water supply and other utility services are expected to support industrial expansion. Growth in the services sector is expected to remain robust at 7.2 per cent, driven by healthy activity in financial, real estate, professional services, public administration, defence, and other services.(S-PIB)