India's Economic Growth Path: CEA V. Anantha Nageswaran

Business Today
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Published 2024-07-22
#modinomics #budget2024 #unionbudget2024 #viksitbharat #nirmalasitharaman
Finance Minister Nirmala Sitharaman Monday tabled in Parliament the Economic Survey for the year 2023-24, a day ahead of the Narendra Modi-led government’s Union Budget. In the report, Chief Economic Advisory V Anantha Nageswaran said India’s economy carried forward the momentum it built in FY23 into FY24 despite a gamut of external challenges. “India’s real GDP grew by 8.2 per cent in FY24, exceeding the 8 per cent mark in three out of four quarters of FY24. The focus on maintaining macroeconomic stability ensured that external challenges had minimal impact on India’s economy,” the survey stated. The survey stated that inflationary pressures stoked by global issues, supply chain disruptions, and vagaries of monsoons have been deftly managed by administrative and monetary policy responses. “As a result, after averaging 6.7 per cent in FY23, retail inflation declined to 5.4 per cent in FY24.”Furthermore, the survey stated that in FY24, “the government’s timely policy interventions and the Reserve Bank of India’s price stability measures helped maintain retail inflation at 5.4 per cent – the lowest level since the pandemic.” Watch Business Today TV's Managing Editor Siddharth Zarabi in conversation with Dr. V. Anantha Nageswaran, Chief Economic Advisor, Ministry of Finance.


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