Economic Survey 2023: GDP Growth At 6.5% In Real Terms In 2023-24, Other Key Takeaways

Economic Survey 2023 

The government tabled the Economic Survey in the Parliament ahead of the annual Budget on February 1. Here are the key takeaways from the survey

India’s growth rate 

India's economy is projected to grow 6.5 per cent in 2023-24 in real terms, said the survey. It said that the actual outcome for real GDP will probably lie in the range of 6-6.8 per cent

Fastest growing economy 

As per the Economic Survey 2023, with real GDP growth in the range of 6-6.8 per cent, India is set to remain the fastest growing major economy in the world

Growth driving factors

India’s growth is driven by private consumption, higher capex, strengthening corporate balance sheet, credit growth to small businesses and return of migrant workers to cities, according to the survey 

“Recouped what
was lost”

Economy has nearly ''recouped'' what was lost, ''renewed'' what had paused, and ''reenergised'' what had slowed during the pandemic and since the conflict in Europe, claimed the survey

Rupee depreciation 

The report highlighted that the challenge to rupee depreciation persists with the likelihood of further interest rate hikes by the US Fed. If CAD widens further, rupee may come under depreciation pressure

Sufficient forex reserves 

The Economic Survey 2023 assured that India has sufficient forex reserves to finance CAD and intervene in forex market to manage rupee volatility

India’s economic
resilience in light of
Russia-Ukraine war 

India's economic resilience has helped it withstand the challenge of mitigating external imbalances caused by the Russia-Ukraine conflict without losing growth momentum, claimed the report 

Stock market unfazed

The Economic Survey 2023 report said that the stock market gave positive returns in calendar year 2022 unfazed by FPI withdrawal. It also highlighted that India withstood extraordinary set of challenges better than most economies 

Gautam Adani Out of Top 10 Richest List, Hindenburg Report Effect And More

Produced By: Anshula Raj
Designed By: Mohsin

Next Visual Story 

Click Here

Next: Raghuram Rajan at Davos: Ex-RBI Guv talks about India's growth story, crypto, Bharat Jodo Yatra and more