The annual Economic Survey of the finance ministry, while projecting a shallow recovery in the current fiscal year, has set the policy path for increasing the size of the economy to $5 trillion by March 2025. In that endeavour, the Survey targets a real growth rate of 8 per cent, which, along with 4 per cent inflation, or 12 per cent growth in nominal terms, would allow for reaching the target set by the government.
The journey towards that goal is envisaged through a virtuous self-sustaining growth cycle created by enhancing savings, investment and exports. The Survey draws on the ...
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