*New Delhi, July 22, 2024:* The Economic Survey for the fiscal year 2023-24 has underscored India’s significant economic recovery, indicating a return to pre-COVID growth trajectories and projecting the possibility of achieving sustained growth rates of 7% or more in the medium term.

Released ahead of the Union Budget, the Economic Survey, prepared by the Ministry of Finance, presents a comprehensive analysis of India’s economic performance, challenges, and future prospects. The survey’s findings indicate a robust rebound from the pandemic-induced slowdown, with key economic indicators showing resilience and improvement across sectors.

Key highlights from the Economic Survey include:

1. Growth Trajectory: India’s economy has shown resilience and has recovered to pre-pandemic levels, reflecting a strong rebound in economic activity. The survey points to the potential for sustained growth rates exceeding 7% in the medium term, driven by structural reforms and investment momentum.

2. Sectoral Performance: Various sectors such as manufacturing, services, and agriculture have contributed to the recovery, supported by government initiatives, easing of COVID-related restrictions, and favorable global economic conditions.

3. Investment and Infrastructure: The survey emphasizes the critical role of infrastructure development and investment in sustaining economic momentum. It highlights ongoing efforts to enhance infrastructure through public and private investments, which are expected to bolster growth prospects.

4. Inflation and Monetary Policy: The survey notes that inflationary pressures have been managed effectively, allowing the Reserve Bank of India (RBI) to maintain accommodative monetary policies conducive to growth. It underscores the importance of maintaining price stability while supporting economic recovery.

5. Challenges and Reforms: While acknowledging the progress, the Economic Survey also identifies challenges such as job creation, income inequality, and global economic uncertainties. It advocates for continued reforms across sectors to enhance competitiveness, productivity, and inclusive growth.

6. Global Outlook: Amid global economic dynamics, including shifts in trade patterns and geopolitical developments, the survey highlights India’s resilience and potential to capitalize on emerging opportunities in the global economy.

The Economic Survey sets the stage for the Union Budget presentation, providing policymakers, businesses, and stakeholders with insights into the government’s economic priorities and strategies. It underscores the importance of sustained policy support, structural reforms, and investment in driving India’s economic growth trajectory.

As India aims to consolidate its economic gains and navigate post-pandemic challenges, the Economic Survey’s optimistic outlook and strategic recommendations are expected to guide policy decisions aimed at fostering inclusive and sustainable growth in the coming years.

*Stay updated as the Union Budget unveils further details and policy initiatives aimed at bolstering India’s economic resilience and growth.*

Author: News Khoj
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This article encapsulates the key findings and projections of the Economic Survey 2023-24, highlighting India’s economic recovery to pre-COVID levels and the potential for sustained growth in the medium term, based on the Ministry of Finance’s comprehensive analysis and strategic recommendations.