As the fastest-growing large economy, with steady growth projected at 6.7 per cent over the next two fiscal years, India continues to outpace global peers and cement its position as a leader in economic resilience and progress, the government said on Saturday.
India prepares to unveil its Budget 2025, there is a growing need to ensure that interests of small and marginal farmers are at the forefront of agricultural policymaking.
The report expects India to continue to be among the highest growing major economies despite the recent slowdown in growth.
Ahead of the Union Budget, the industry body Confederation of Indian Industry(CII) has put forward a 10-point specific suggestion before the central government to increase Ease of Doing Business.
India's economic trajectory, once celebrated for its resilience and rapid growth, is now encountering significant headwinds.
The report further anticipates a deficit of approximately $8 billion, equal to 0.8% of GDP in the first quarter itself. This is a reversal from the surplus of $5.7 billion, or 0.6% of GDP, recorded in the last quarter.
According to the World Bank, the Indian economy continues to grow at a healthy pace and the country's medium-term outlook remains positive.
The PMD noted that this decision was made to provide financial relief and support to farmers.
Drought, a slow-moving phenomenon, can cause significant damage and displacement in affected communities, but its impact varies from region to region, which includes pivotal factors like the GDP of that region, a newly conducted study shows.
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