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Growth story pared with dose of realism
The New Indian Express
|July 23, 2024
Economic Survey contradicts the government's anti-China stance; seeks to shift the responsibility of job creation to the private sector
INDIA's march towards Viksit Bharat in 2047 may not be a walk in the park amid rising global uncertainties, climate change risks, and the 'huge pall of uncertainty' cast by artificial intelligence (AI). Premised on this reality check, the Economic Survey 2023-24, tabled by Finance Minister Nirmala Sitharaman in Parliament on Monday, presents a mixed picture of hope and high water.
Though the Survey asserts that India's economy is on a "strong wicket and stable footing, demonstrating resilience in the face of geopolitical challenges", it outlines in great length the challenges ahead. In this context, the report pegs GDP growth rate at a conservative 6.5-7% for FY25, lower than the estimates of many domestic and international agencies.
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