Economic Survey 2023 estimates real GDP to be at 6-6.8%

Finance Minister Nirmala Sitharaman officially tabled Economic Survey in Parliament .  Financial Year 2024 Real GDP growth India is estimated to be at  6-6.8 percent as reported by CNBC-TV18 earlier.

FY24 base line real GDP growth is expected to be at  6.5 percent while base line nominal GDP is expected to be at 11 percent.

In the Economic Survey, tabled every year before the Union Budget, is expected to mention that India's Nominal GDP will expand by 11 percent but borrowing costs may stay ‘higher for longer’ as ‘entrenched inflation’ could prolong interest rate tightening.

This year's Economic Survey was to be presented on Tuesday, January 31. The survey highlights the state of the economy in the current financial year 2022-23. It was formulated under the supervision of the chief economic advisor (CEA), V Anantha Nageswaran.

This Economic Survey is divided into two parts, Part A and Part B, and includes information on the country's GDP growth outlook, inflation rate and projections, forex reserves, and trade deficits. The first part, or Part A, of the report, gives a broad review of the economy and the major economic developments in the year, whereas Part B details specific issues like social security, poverty, education, healthcare, human development, and climate.