India’s service sector continues to contribute to GDP, accounting for 55% in FY24: The fiscal year (FY) 2024 finished with an outstanding services sector credit of Rs 45.9 lakh crore in March 2024, representing a 22.9 percent year-on-year (YoY) growth, according to the Economic Survey released on Monday. The post-pandemic services exports have maintained a … Read more
The Economic Survey given in Parliament cautiously projects India’s real GDP growth of 6.5-7%, recognizing that market expectations are on the high side. Real GDP growth equals reported economic growth minus inflation. Despite a variety of external problems, India’s economy maintained its momentum from 2022-23 to 2023-24. “The focus on maintaining macroeconomic stability ensured that … Read more
The wait for the entire Budget for 2024-25 is almost over, as the Union government prepares to present the Economic Survey on Monday. Union Finance Minister Nirmala Sitharaman will give the pre-budget document to Parliament a day before the Budget presentation. What is an economic survey? The Economic Survey document, prepared by the Economic Division … Read more