Domestic Economy
India demonstrated resilience post the pandemic-induced contraction in FY21, achieving two years of above-7% growth and a similar projection for FY24.
The National Statistical Office's First Advance Estimates indicate an estimated real GDP growth of 7.3% in FY24, surpassing various forecasts.
Domestic Economy
Factors Contributing to India's Resilience
- Smart Covid Management: Localized lockdowns and rapid nationwide vaccination efforts helped control the spread, preventing a sharp output contraction.
- Policy Decisions: Measures taken six years before the pandemic included fiscal policies, monetary support for MSMEs, and a large expansion of the government's capex budget. Proactive inflation management countered commodity price spirals triggered by global shocks.
- Banking ....
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What Made The Indian Economy Resilient?
- 1 Government Initiatives
- 2 Reform Push to the Indian Industry
- 3 Digital Infrastructure and Delivery of Citizen-Centric Services
- 4 Evolving Financial Markets to Support the Investment Needs of a Growing Economy
- 5 Safeguarding Macroeconomic Stability
- 6 Human Resources - Dovetailing Growth with Welfare
- 7 A New Approach to Welfare
- 8 How has the New Approach to Welfare Paid Off
- 9 Women-led development: Tapping the Gender Dividend for India@100
- 10 Employment Situation in the Past Decade
