Which of the following statements regarding India's demand-side economic performance in H1 FY25 is INCORRECT as per the recently released Economic Survey 2024-25?
1
Private Final Consumption Expenditure (PFCE) grew by 6.7% in H1 FY25, driven by both rural and urban demand, with rural demand supported by a good Kharif crop and higher MSPs.
2
India's exports of goods and non-factor services grew by 5.6% in H1 FY25, while imports increased by only 0.7%.
3
Gross Fixed Capital Formation (GFCF) grew by 6.4% in H1 FY25, with private sector investment accelerating due to strong domestic and global demand.
4
India was top recipient of remittances in the world, which helped contain the current account deficit (CAD) at 1.2% of GDP in Q2 FY25.
5
None of the above