Economic Survey 2024 Highlights: From GDP To Unemployment; How India Performed In FY24
The Economic Survey serves as an official assessment of the government's financial performance and the economic conditions prevailing up to March 31 of the year
India's economy sustained its momentum from FY23 into FY24, achieving real GDP growth of 8.2 per cent, with three out of four quarters surpassing the 8 per cent mark. ABP Live AI
In FY24, core services inflation reached its lowest point in nine years, while core goods inflation also decreased to its lowest level in four years. Pexels
India has made notable strides in climate action, enhancing renewable energy capacity and energy efficiency. By May 31, 2024, non-fossil sources accounted for 45.4 per cent of the installed electricity generation capacity. ABP Live AI
Food inflation exacerbated in India from challenges in the agriculture sector like extreme weather, depleted reservoirs, and crop damage, leading to a rise from 6.6 per cent in FY23 to 7.5 per cent in FY24. PTI
Over the past six years, Indian labor market indicators have shown improvement, with the unemployment rate decreasing to 3.2 per cent in 2022-23. Pexels
In FY24, India's services exports increased by 4.9 per cent to reach $341.1 billion, primarily led by growth in IT/software services and other business services. Pexels
Economic growth of 8.2 per cent was recorded, supported by a 9.5 per cent industrial growth rate in the fiscal year 2023-24. ABP Live AI