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Below the Comments on Economic Survey 2023-2024 by Mr Shrey Jain Founder and CEO SAS Online

Government’s estimate of economic growth at 6.5-7% in FY2025 is in line with the growth estimates of 7% put forward by the International Monetary Fund, and tad below 7.2% estimated by The Reserve Bank of India.  Though this indicates that the government does not anticipate further acceleration of growth in the Indian economy in near future, it does not anticipate a material slowdown either.

In the two years since FY21, gross fixed capital formation by the private sector has surpassed that by the government, which indicates that the private sector has been investing. Government may encourage investments by the private sector going forward.

As the economic survey points out, “Employment generation is the real bottom line for the private sector,” expect more incentives to labour intensive businesses in manufacturing, especially textiles, housing and blue-economy in Union Budget 2024 as well as in the policy announcements in future.

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