Union Budget 2024, Finance Minister Nirmala Sitharaman tabled the Economic Survey 2023-24 report, along with the statistical appendix, in the Lok Sabha. The Economic Survey is an annual document presented before the Union Budget to assess the state of the economy and provide an overview of its short-to-medium-term prospects.
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According to the finance ministry report, India's economy is projected to grow at a rate of 6.5% to 7% in the current financial year, ending in March 2025. This projection is lower than the 7.2% forecast by the country's central bank and the 8.2% growth achieved in the previous year. Private economists and rating agencies have also revised their estimates upward to 6.8% to 7.2%.
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The report, written by Chief Economic Adviser V. Anantha Nageswaran and his team, suggests that private investments may grow at a slower pace due to balanced risks.
«Private capital formation after good growth in the last three years may turn
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