How the Indian economy fared in 2024, in 9 charts
Live MintThe year 2024 kept governments across the world on tenterhooks, with more than 60 countries, including India, holding elections, injecting uncertainty about how the outcomes would shape future fiscal, monetary, and trade policies. The Indian economy faced several challenges in 2024, from slowing growth to stubborn inflation to risks associated with personal loan growth. While the fight against inflation made the Reserve Bank of India cautious about easing monetary policy, economic activity and capital expenditure slowed, making balancing growth and price rises tougher. Though the Indian economy is set to miss the goal of becoming a $5 trillion economy by 2025, optimism remains high for the 100th year of India’s independence–2047. While rapid increases in prices in Western countries finally saw a rapid decline in 2024, India’s inflation remained in the 4-8% range, mainly due to volatility in food prices.