Economic Survey 2023-24 was introduced by Finance Minister Nirmala Sitharaman

Breaking news India today : Parliament session started on Monday. After the results of the Lok Sabha elections, the NDA formed a coalition government with the participation of BJP allies.

With this, Modi became the Prime Minister for the third time in a row. Finance Minister Nirmala Sitharaman will present the budget for the year 2024-25 in the Lok Sabha tomorrow (Tuesday) after this government comes to power. On this occasion, she introduced the Economic Survey 2023-24 in the House on Monday, one day before the budget. The Economic Survey said, ‘India’s economy remains robust in the face of geopolitical challenges’.

The survey said that the efforts made by the policy makers to revive the Indian economy post-Covid will ensure economic stability. Amidst global volatility, the survey says, “change is the only constant for a country with high growth aspirations”. Reaching agreements on key global issues such as trade, investment and climate has become difficult. The survey has made it clear that government investment has maintained capital over the years since 2022, when the private sector is investing. The survey said that while the growth rate of 7.0 percent was recorded in the last two years, the growth rate of 9.7 percent is likely to be recorded in the financial year 2024.

Although the rate of inflation of certain food items has increased, the rate of core inflation has remained largely under control. Trade deficit is smaller in 2024 than in 2023. Current account deficit is around 0.7 percent of GDP. It recorded a current account surplus in the last quarter of the financial year. The economic survey noted that foreign exchange reserves are plentiful. The survey suggests that private investment is likely to increase in FY2024.
The Economic Survey 2023-24 was prepared by the Department of Economic Affairs in the Ministry of Finance. The survey was prepared under the supervision of the Chief Financial Advisor. Nirmala Sitharaman will present the budget for the seventh time as the Finance Minister. Nirmala Sitharaman will break the record of former Finance Minister Morarji Desaru who presented the annual budget five times.