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While India’s government debt is high, it does not pose a problem as the bulk of it is in the form of long-dated, fixed-rate instruments denominated in domestic currency and predominantly held by residents
The lower fiscal deficit and current account deficit number brings good news for the economy by way of control on inflation, lesser domestic and foreign debt and better value for domestic currency. It adds one more reason to celebrate as these numbers mean better prospects for the economy
Consumer companies have been pointing out that rural demand is weak compared to what they see in urban areas. In a pre-election year, it raises expectations if the government will propose additional measures to boost rural incomes
According to the statistics ministry's first advance estimate of this year’s GDP, the Indian economy's growth rate is set to increase to 7.3 percent from 7.2 percent in 2022-23. However, the nominal growth rate is seen at 8.9 percent – well below the government's assumption that it would be 10.5 percent.
Union Budget: India Budget 2024 with the latest news on Income tax, Economic survey, sector impact, and tax details for 2023-24