The country’s Finance Minister Nirmala Sitharaman presented the Economic Survey in Parliament.
Ahead of the Budget 2024, the country’s Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey on the floor of Parliament. According to this economic survey, called the pre-budget document, the country’s growth in the current financial year may range between 6.5 and 7 per cent. The growth estimated by the RBI in the month of June is 7.2 per cent. In such a situation, the government has estimated the country’s growth below the RBI.
At the same time, the government is also working on its own in the matter of inflation. According to the Economic Survey, the country’s inflation is under control and there is an atmosphere of geopolitical tension in the world. According to it, the country’s economy is in much better condition.
After presenting the report in Lok Sabha, the Economic Survey report will be tabled in Rajya Sabha at 2 pm. Prime Minister of the country Narendra Modi said that the budget will be presented on July 23. He said that this budget will decide the condition and direction of the next five years. It will also try to make a major contribution to making the country a developed nation by 2047. We also tell you what important points have been mentioned in the National Economic Survey.
According to the Economic Survey, the global economy is still in crisis. The effect of which can be seen in the flow of capital. Good growth can be observed in the service sector. In such a situation, a major role of business in job creation can be seen. The unemployment rate in urban areas is said to be reduced to 6.7 percent in the first quarter of 2023. It is also said in the Economic Survey that there is no hope of further hiring in the IT sector in the current financial year.
Indian economy is in a strong position in the face of geopolitical challenges: Economic Survey 2023-24
– ANI Digital (@ani_digital) July 22, 2024
How many jobs are needed each year?
According to the Economic Survey, in order to maintain and expand the pace of India’s economy, there is a need to increase the workforce in the country’s economy. To meet this need, an average of 78.5 lakh jobs will be required every year in the non-agricultural sector by the year 2030. So that the country can be taken towards a developed nation.
How much can GDP be?
Presenting the Economic Survey, Finance Minister Nirmala Sitharaman said that this is the economic survey for the financial year 2023-24. A lot of data including GDP growth, inflation, employment and fiscal deficit have been included in this survey. She said that the country’s economy is in a better shape even as the world is battling geopolitical tension. While briefing, she said that in the current financial year the country’s growth rate may range between 6.5 and 7 per cent. While in the last financial year the country’s growth rate was 8.2 per cent. However, the estimate given by the government is lower than the RBI’s estimate of 7.2 per cent.
Need to focus more on agriculture
The Economic Survey has pointed out the need for more attention to be paid to the agricultural sector. However, the survey said that the government’s emphasis will be on public-private partnership. This year, 33 assets of the National Highways Authority of India have been identified. Which can be sold. According to the survey, there has been an increase in private sector earnings, but it has lagged far behind in terms of job creation.
