Budget needs to prioritise strategies for sustainable economic growth | Current Affairs | Vision IAS
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    Budget needs to prioritise strategies for sustainable economic growth

    1 min read

    First Advance Estimates of National Income 2024-25

    The National Statistics Office (NSO) has released the First Advance Estimates (FAE) of national income for the financial year 2024-25.

    Economic Growth Projections

    • The Indian economy is projected to grow at 6.4 per cent in 2024-25.
    • This is a decrease from the 8.2 per cent growth rate in 2023-24.
    • The new estimate is slightly below the Reserve Bank of India's projection of 6.6 per cent.
    • This growth rate is the lowest since the contraction during the Covid year (2020-21).

    Nominal Growth Rate

    • In nominal terms, the economy is set to expand by 9.7 per cent, which is a slight increase from 9.6 per cent in the previous financial year.

    The First Advance Estimates were anticipated after the observed growth rate in the second quarter of the financial year.

    • Tags :
    • National Statistical Office
    • Gross Domestic Production (GDP)

    Articles Sources

    https://www.business-standard.com/opinion/editorial/budget-needs-to-prioritise-strategies-for-sustai
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