India's GDP will grow at the rate of 7 percent!!!!
India's GDP will grow at the rate of 7 percent!!!!You can get relief by knowing the estimate given by the reserve bank of india (RBI) for the economic growth rate of the indian economy. RBI has estimated the indian economy to grow at the rate of seven percent in the current financial year 2024-25. RBI has said in its annual report today that in the financial year 2023-24, the indian economy showed resilience despite constant challenges. Despite adverse conditions, the outlook remains positive due to government investment and consumer optimization.Know what is in the RBI reportThe indian economy has expanded at a strong pace in FY 2023-24 (April 2023 to march 2024), increasing the real GDP growth rate to 7.6 percent. It was 7.0 percent in 2022-23. For the third consecutive year, this GDP has been seven percent or more. RBI said, "Real GDP growth rate is estimated to be 7.0 percent for 2024-25. In this, risks will be equally balanced on both sides." Information about the benefits of MSP in RBI report Minimum Support Price (MSP) has fixed a minimum profit of 50 percent on the cost of production for all crops in both Kharif and Rabi seasons of FY 2023-24. RBI's annual report said that as of march 31, 2024, the overall public storage of food grains was 2.9 times the total quarterly storage standard. In the financial year 2023-24, MSP has been increased by 5.3-10.4 percent for Kharif crops and 2.0-7.1 percent for Rabi crops. Mentioned the impact of El Nino effect on Rabi-Kharif cropsThe report said that due to uneven and less southwest monsoon (SWM) rains as well as the strengthening of El Nino conditions, agriculture and related activities data-faced adverse conditions. Last year, in June-September, gross SWM rainfall at the all india level was six percent less than the 2023 Long Term Average (LPA). According to the second advance estimate, the production of Kharif and Rabi food grains in the year 2023-24 was 1.3 percent less than the final estimates of last year.