The Economic Survey is a comprehensive study of India's economic performance over the past financial year based on data collected from all sectors. It is presented ahead of the Union Budget.
India's real GDP grew by 8.2% in FY24, exceeding the 8% mark in three out of four quarters of FY24. The gross fixed capital formation increased by 9% in real terms in 2023-24.
The real GDP growth for FY25 was pegged at 6.5-7%, higher than the last Economic Survey, which predicted the real GDP to grow in the range of 6% to 6.8% in FY24.
The capital expenditure on Railways has increased by 77% over the past five years (₹2.62 lakh crore in FY24) with significant investments in the construction of new lines, gauge conversion and doubling.
The Indian economy has recovered and expanded in an orderly manner after the pandemic. The real GDP in FY24 was 20% higher than its level in FY20, a feat that only a very few major economies achieved.
The market capitalisation of the Indian stock market has seen a remarkable surge, with the market capitalisation to GDP ratio becoming the fifth-largest in the world.
India’s services exports grew by 4.9% to $341.1 billion in FY24, with growth largely driven by IT/software services and ‘other’ business services.
Remittances to India to grow at 3.7% to $124 billion in 2024 and 4% in 2025 to reach $129 billion.