These government figures are going to increase the pain amid inflation! Lowest growth rate forecast in 4 years

New Delhi : The population has suffered from inflation. In October, retail inflation crossed the limit of the Reserve Bank of India and reached 6.21 percent. The wound of inflation has not yet healed, hence there is no good news on the economic front before the budget. The government on Tuesday released its first preliminary estimates for fiscal year 2024-25.

Along with this, the biggest slowdown in GDP growth in the last 4 years can be seen in the current financial year 2024/25. The country's GDP growth rate in the current financial year is estimated to be 6.4 percent. In the last financial year 2023/24, the country's economy grew at the rate of 8.2 percent.

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own first preliminary estimate of national income

The Office for National Statistics has released its first preliminary estimate of national income this year and expects real GDP growth this year to be 6.4 percent. The preliminary GDP growth rate for 2023-2024 is 8.2 percent. NSO's GDP growth estimate for the current financial year is lower than the Reserve Bank of India's estimate. RBI has estimated the GDP growth rate for the financial year 2024-25 to be 6.6%.

Along with this, the annual growth remains at 7 percent and above from financial year 2022. In which growth was measured at 9.7 percent in fiscal year 2022, 7 percent in fiscal year 2023 and 8.2 percent in fiscal year 2024. It is expected that for the first time in the last 4 years, GDP growth may fall below 7 percent. Let us tell you that in this budget, the tax burden on the middle class segment on the Central Government is very heavy. In the pre-budget meeting, everyone from economists to business world representatives and trade unions have advised the Finance Minister to reduce the tax burden to provide relief to the salaried class from inflation.