Google trend - Economic Survey 2024

Economic Survey 2024 - 10 things to know with detail

• Economic Growth: The Economic Survey 2024 reports a robust economic growth rate of 7.5% for the fiscal year, driven by strong consumer demand, infrastructure development, and government spending.
• Inflation: Inflation remained stable at 4% during the fiscal year, thanks to prudent monetary policy measures and well-controlled supply chain disruptions.
• Government Revenue: The government reported a significant increase in revenue collection, with tax revenues exceeding expectations due to improved compliance and broader tax base.
• Employment: The Economic Survey highlights a positive trend in employment generation, with the creation of 10 million new jobs in the formal sector and a decrease in unemployment rates.
• Investment: The Survey indicates a surge in private and foreign investment in key sectors such as manufacturing, infrastructure, and technology, reflecting improved business sentiment and investor confidence.
• Fiscal Deficit: The fiscal deficit was contained at 3.5% of GDP, demonstrating the government's commitment to fiscal discipline and prudent expenditure management.
• Export Growth: The Survey shows a significant increase in export growth, driven by strong global demand for Indian goods and services, as well as improvements in trade facilitation and logistics.
• Agriculture Sector: The agriculture sector witnessed a revival, with a bumper harvest and increased government support through initiatives such as PM-KISAN and agricultural infrastructure development.
• Digital Economy: The Economic Survey emphasizes the growing importance of the digital economy, with increased digital adoption, e-commerce growth, and digital payments driving economic activity and innovation.
• Policy Recommendations: The Survey proposes policy recommendations to sustain economic growth, including structural reforms in labor, land, and agricultural sectors, enhancing ease of doing business, and promoting digital and green technologies for sustainable development.