The government’s efforts in maintaining macroeconomic stability and growth have resulted in India boasting some of the world’s strongest macroeconomic indicators. Budget 2024-25 builds on this progress, focusing on eight key areas: agriculture, employment, human development, manufacturing, energy security, innovation, infrastructure, and next-generation reforms.
India’s external position is also robust, on the back of lower external debt-to-gross domestic product (GDP), higher forex reserves, and improved import and export. Corporate debt has also fallen from 65 per cent to 52 per cent of the GDP. The economy is also on a strong wicket, due to private consumption and improving rural growth.
Strong capital expenditure on infrastructure has also led to a virtuous cycle of growth.
This story is from the August 2024 edition of Outlook Money.
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This story is from the August 2024 edition of Outlook Money.
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