2024-06-01 04:44:49
New Delhi: Earlier than the outcomes of the Lok Sabha elections, excellent news has come for the Indian financial system. The nation’s GDP progress fee was 8.2 p.c within the monetary 12 months 2023-24, whereas it was 7 p.c within the monetary 12 months 2022-23. In accordance with the information, the nation’s GDP progress fee was 7.8 p.c within the January-March quarter, whereas it was 6.2 p.c in the identical interval a 12 months in the past. India’s Gross Home Product has grown at a spectacular tempo within the final quarter of FY 24. GDP figures have been launched earlier than the election outcomes. The nation’s GDP grew on the fee of seven.8 p.c within the March quarter. Now the central authorities has estimated the general progress fee of FY 24 to be 8.2 p.c.
In the meantime, the federal government’s fiscal deficit was 5.63 p.c of GDP within the final monetary 12 months. That is barely lower than the estimate of 5.8 p.c expressed within the Union Price range. In actuality, the fiscal deficit i.e. the distinction between expenditure and income was Rs 16.53 lakh crore. Within the revised estimate for 2023-24 within the interim funds offered on February 1, the federal government had estimated the fiscal deficit to be Rs 17.34 lakh crore i.e. 5.8 p.c of the gross home product (GDP).
In accordance with the information of the Comptroller and Auditor Normal, the federal government has managed to realize the income assortment goal. Web direct tax assortment stood at Rs 23.36 lakh crore in 2023-24 whereas the expenditure stood at Rs 44.42 lakh crore.
(with language enter)