The Economic Survey 2024-25, tabled in Parliament on Friday by Finance Minister Nirmala Sitharaman, forecasts India’s GDP growth for FY26 to be in the range of 6.3-6.8%. The Survey, a pre-budget document detailing the state of the economy, highlights the growing importance of domestic growth drivers over external factors in sustaining India’s economic momentum.
Presented during the Budget session, which began with President Droupadi Murmu’s address to a joint sitting of the Lok Sabha and Rajya Sabha, the Survey underscores the need for grassroots-level reforms and economic freedom to enhance competitiveness and boost long-term growth.
Key Highlights of the Economic Survey 2025:
- Growth Projections:
The Survey projects a GDP growth rate of 6.3-6.8% for FY26, emphasizing the critical role of domestic levers such as investment, manufacturing, and emerging technologies. - Vision for Viksit Bharat by 2047:
To achieve its goal of becoming a developed nation by 2047, India must sustain an average annual growth rate of 8% over the next two decades. This will require increasing the investment rate to 35% of GDP (up from the current 31%) and creating 78.5 lakh non-farm jobs annually until 2030. - Focus on Reforms and Innovation:
The Survey calls for deregulation, grassroots reforms, and investments in cutting-edge technologies like artificial intelligence, robotics, and biotechnology. It also stresses the importance of improving education quality, achieving 100% literacy, and developing high-quality infrastructure. - Challenges and Opportunities:
While the global economic environment remains uncertain, the Survey highlights India’s resilience and the potential for robust growth driven by domestic consumption, manufacturing, and digital transformation.
Budget Session and Legislative Agenda:
The Budget session, which runs until April 4, will focus on key legislative issues, including 16 bills such as the Waqf (Amendment) Bill, Banking Laws (Amendment) Bill, and Railways (Amendment) Bill. Opposition parties have indicated they will raise issues like the Maha Kumbh stampede and UGC draft regulations during the session.
Finance Minister Nirmala Sitharaman is set to present the Union Budget for 2025-26 on February 1, marking her eighth consecutive budget presentation. The Budget is expected to outline measures to address economic challenges and accelerate growth in line with the Survey’s recommendations.
As India aims to become a $5 trillion economy and achieve the Viksit Bharat vision, the Economic Survey 2025 serves as a roadmap for sustainable growth, innovation, and inclusive development.
