Indian Economy Maintains Growth Momentum Amidst Global Challenges
Economic Growth Driven by Private Consumption and Capital Formation
India's economic growth in Fiscal Year 2023 has been primarily fueled by private consumption and capital formation. Despite facing global economic headwinds, the Indian economy has exhibited resilience and preserved sound macroeconomic fundamentals.
Capital Expenditure Outlay Increased for 2024-25
To further boost economic growth, the government has significantly increased its capital expenditure outlay for Fiscal Year 2024-25 by 111 percent to Rs 40000 crore. This investment will facilitate the conversion of regular rail bogies to normal rail bogies and support other critical infrastructure projects.
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