PM Modi's Third Term: India's Economic Outlook Brightens
Headline Inflation to Decline, RBI Predicts
Finance Minister Set to Present Seventh Union Budget
In a significant development, Prime Minister Narendra Modi has expressed his pride in his government's third consecutive term in power, a rare feat in India's post-independence era. As the nation eagerly anticipates the upcoming Economic Survey 2024, the Reserve Bank of India (RBI) has predicted a decline in headline inflation to 45 percent in FY25 and 41 percent in FY26, providing a ray of hope for the economy. Finance Minister Nirmala Sitharaman is set to present her record-breaking seventh Union Budget on July 1st, outlining the government's financial roadmap.
The Economic Survey is an annual document that presents a comprehensive analysis of the Indian economy and provides insights into key macroeconomic trends. This year's survey, to be tabled in Parliament by Sitharaman, is expected to focus on the post-pandemic economic recovery, fiscal consolidation, and structural reforms aimed at boosting growth and creating jobs.
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