Ministry of Finance Releases Monthly Economic Review for November 2024
By: Admin | December 28, 2024
Categories: Finance Ministry News | 4 Min Read
The Ministry of Finance has published its Monthly Economic Review for November 2024, highlighting India’s economic performance and trends in FY25.
Key Highlights
- Economic Growth:
Real GDP Growth: Increased by 5.4% in Q2 FY25, leading to 6% growth in H1 FY25.
Early signs of capital formation rebound are visible in H2 FY25, supported by rising Union Government capital expenditure.
- Agricultural Sector:
Strong kharif production, favorable monsoon conditions, and sufficient reservoir levels boosted Q2 FY25 agricultural growth.
- Inflation:
Inflation pressures eased to 5.5% in November 2024, driven by declines in food and core inflation.
Lower international crude oil prices contributed to this relief, although high global edible oil prices remain a concern.
- Foreign Exchange Reserves:
India’s foreign exchange reserves increased by $6.4 billion during FY25 (as of December 13, 2024), supported by stable capital inflows.
- Outlook for Q3 FY25:
The outlook remains positive, as indicated by the performance of High-Frequency Indicators for October and November 2024.
This report underscores the resilience of India’s economy, driven by strong agricultural growth, easing inflation, and rising investments, while also highlighting potential global risks like high edible oil prices.
