Economic Survey highlights India's strengths, identifies areas for further growth to build Viksit Bharat: PM Modi

Prime Minister Narendra Modi while commenting on the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman said that the pre-bugdet document highlighted the prevailing strengths of India's economy.

"The Economic Survey highlights the prevailing strengths of our economy and also showcases the outcomes of the various reforms our Government has brought. It also identifies areas for further growth and progress as we move towards building a Viksit Bharat," said PM Modi in a post on X.

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Finance minister Nirmala Sitharaman on Monday tabled the Economic Survey 2023-24 report, along with the statistical appendix in the Lok Sabha.



The Economic Survey, prepared by Chief Economic Adviser V. Anantha Nageswaran and his team in the finance ministry, is an annual document that the government presents before the Union Budget to assess the state of the economy and provide an overview of its short-to-medium-term prospects.

According to pre-budget document, India's economy is projected to grow at a rate of 6.5% to 7% in the current financial year, which ends 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 projection of India's growth in Economic Survey is a tad lower than the Reserve Bank's growth estimates of 7.2%. However, major global agencies, including IMF and ADB, have projected the growth at 7%.

(with agency inputs)