Bharatiya Janata Party leader Gourav Vallabh on Monday highlighted the financial and growth aspects of the Indian economy and said that India is the only country that has seen "high growth" and "low inflation".
The Survey projects achievable GDP growth for FY25, driven by robust macroeconomic management and a supportive policy environment emphasizing capital expenditure and inflation control.
As Pakistan continues to grapple with a severe economic crisis, its residents also continue to endure some of the worst financial turmoil on a daily basis.
The global energy price index experienced a sharp decline in FY24. On the other hand, the Central Government announced price cuts for LPG, petrol, and diesel. As a result, retail fuel inflation stayed low in FY24, the Survey said.
As inflation is high, the prices of essential items such as cooking oil, pulses, flour, sugar, milk, and chicken have increased, affecting people's budgets badly, ARY News reported on Thursday.
Faced with food inflation remaining at elevated levels consistently, the Reserve Bank of India on Thursday said that it is too long a period for a food price shock to be termed as transitory.
"Today in India, everyone from daily wage labourers to government employees are in dire straits - some due to inflation, unemployment, and some due to government negligence," Rahul Gandhi said.
From here, the market is likely to see stock-specific moves this week on the back of the ongoing earning season. The market participants also digested the elevated inflation data for June, besides eyeing the much-awaited Budget to be presented on July 23.
According to CRISIL report, the increase in food prices, particularly vegetables, cereals, milk, and fruits, has been a significant contributor to this uptick.
Pakistani residents are grappling with the harsh realities of skyrocketing inflation and hefty tax duties, which are placing immense financial strain on their daily life.