Economic Review 2023-24: The state of the Indian economy from the common man’s point of view

New Delhi. Just before the presentation of the General Budget 2024, the government has released the economic review report of the last financial year. It clearly reflects the current economic condition of the country. This report tells the condition of all the sectors of the country. From the point of view of a common man, this report also shows the roadmap for the future and also presents a sample of what steps the government has to take in this direction. On the basis of the economic report, you can also see the complete picture of the economy at a glance.

First of all, let us talk about India’s growth rate, which is currently the fastest in the world. India’s GDP has grown at the rate of 8.2% in 2023-24. This means that the country’s economy is getting stronger and people’s income is likely to increase. Similarly, there is relief on the inflation front as well. Inflation has come down to 5.4%, due to which the prices of everyday things can remain stable. The fiscal deficit has also come down, as the government has made large investments and has also maintained economic balance.

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There is also an increase in employment
EPFO membership has increased significantly in the last one year, which means more people are getting jobs in the organized sector and getting social security. Schemes like Atmanirbhar Bharat Rojgar Yojana and Pradhan Mantri Rojgar Srijan Karyakram have given jobs to lakhs of people. An e-shram portal was created for workers in the unorganized sector on which more than 29 crore workers have been registered and they are getting the benefits of government schemes.

Lakhs of jobs from social welfare schemes
The National Career Service (NCS) portal has provided employment to lakhs of people and includes 407 model career centres and over 46,000 job fairs. Programmes like the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY) have provided insurance coverage to people at low premiums. Apart from this, the PM Svanidhi Yojana has provided unsecured insurance to street vendors and has benefited over 64 lakh vendors so far.

Improvement from housing to ration
Schemes like Pradhan Mantri Awas Yojana (PM-AWAS) and Swachh Bharat Mission have provided housing and sanitation facilities to the people. Apart from this, schemes like One Nation-One Ration Card have given the migrant workers the facility to get ration anywhere in the country, so that they do not face any problem of food and drink. Economic Survey 2023-24 shows that India’s economy is moving in the right direction.

Tags: Business news, Economic Survey, india gdp