Budget 2023 Expectations Live Updates: Focus is on overall economy, not elections, says MoS Finance

Budget 2023 Expectations Live Updates: Focus is on overall economy, not elections, says MoS Finance
Economic Survey 2023 live updates: India is expected to grow in a broad range of 6-6.8% in FY24, according to the Economic Survey, which was tabled in the Parliament today. The Survey’s baseline forecast for real GDP growth is 6.5 per cent. The survey sees rupee under pressure if CAD widens further. The survey had expected the Indian economy to grow at around 7% in the ongoing financial year 2023-24.
Budget 2023 Expectations Live: India is seen to slow to 6.5 per cent in the fiscal year starting April but will remain the fastest growing major economy in the world as it fared better in dealing with the extraordinary set of challenges the world faced, the Economic Survey 2022-23 tabled on Tuesday said. The survey sees GDP growth of 6.5 per cent in 2023-24 compared with an estimated 7 per cent expansion this fiscal (April 2022 to March 2023) and 8.7 per cent in the previous year.
Key highlights
— Economy to grow 6.5 pc in 2023-24, compared to 7 pc this fiscal and 8.7 pc in 2021-22
— India to remain the fastest growing major economy in the world
Growth driven by private consumption, higher capex, strengthening corporate balance sheet, credit growth to small businesses and return of migrant workers to cities
— Economy has “recouped” what was lost, “renewed” what had paused, and “reenergised” what had slowed during the pandemic and since the conflict in Europe
Real GDP growth to be in the range of 6-6.8 pc next fiscal depending on global economic, political developments
— RBI projection of 6.8 pc inflation this fiscal outside the upper target limit, not high enough to deter private consumption, also not too low to weaken inducement to invest
What is a personal loan?
A personal loan is a type of unsecured credit. Which is offered by financial institutions such as a bank or non-banking financial company (NBFC). Personal loans are granted based on your credit history and ability to repay from personal income. It is also known as consumer loan. This is a multi-purpose loan, the sole purpose of which is to meet individual needs.
What is a personal loan EMI?
Equal Monthly Installment (EMI) is a method of paying the principal amount and loan interest on a fixed monthly basis until the loan is fully repaid. Each EMI payment includes both the principal loan amount and the interest charged. With the advantages of relatively less processing time and minimal paperwork, a person has to meet requirements like good credit card score and take care of high interest rates.
What is a personal loan EMI calculator?
Personal loans are unsecured loans given to people for various personal reasons, such as paying off debts, meeting wedding expenses, unforeseen medical expenses and other financial needs. The personal loan EMI calculator helps you to know the loan installment that needs to be paid at regular intervals. It enables you to evaluate the total outflow in terms of loan.
How can EMI calculations be helpful?
The EMI calculation gives a clear assessment of the amount that needs to be set aside to pay the monthly installment. Which enables you to make an informed decision about loan outflow every month. So, knowing the amount of EMI helps you plan your expenses properly, while knowing how much you need to keep for it on a monthly basis.
Sharing Is Caring: