India’s GDP to grow at 6.5-7 per cent in 2024-25: Economic Survey

Going forward the government focus must turn to bottom-up reform and strengthening the plumbing of governance so that the structural reforms of the last decade yield strong, sustainable, balanced and inclusive growth. Key areas of policy focus in the short to medium term include job and skill creation, tapping the full potential of the farm sector, addressing MSME bottlenecks, managing the nation’s green transition, deftly dealing with the Chinese conundrum, deepening the corporate bond market, tackling inequality and improving our young population’s quality of health.Proposing a six-legged strategy to achieve higher growth, the survey says firstly there must be a deliberate focus on boosting private investment. Secondly, growth and expansion of MSMEs is a strategic priority. Thirdly, the potential of agriculture as an engine of future growth must be recognised and policy impediments removed. Fourthly, there is a need to secure the financing of green transition. Fifthly, the education-employment gap must be bridged. And finally, a focused building of state capacity and capability is required for sustaining and accelerating India’s progress. If these six measures are implemented then the economy can clip at 7 percent in the medium term. This requires a tripartite compact between the centre, the states and the private sector, concludes the survey.



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