Tribune News Service
India is expected to record GDP growth of 6.3-6.8 per cent in the financial year 2025-26, said the Economic Survey tabled in Parliament on Friday. This is in line with the International Monetary Fund’s projection of the growth rate at 6.5 per cent between FY26 and FY27.
As per the first advance estimates of national accounts, India’s real GDP is estimated to grow by 6.4 per cent in FY25. Growth in the first half of FY25 was supported by agriculture and services, with rural demand improving on the back of record Kharif production and favourable agricultural conditions.
According to the Economic Survey tabled by Finance Minister Nirmala Sitharaman, India displayed steady economic growth despite global headwinds
The survey stated that the manufacturing sector faced pressures due to weak global demand and domestic seasonal conditions. Private consumption remained stable, reflecting steady domestic demand, it said.
Also, fiscal discipline and strong external balance supported by a services trade surplus and healthy remittance growth contributed to macroeconomic stability. Together, these factors provided a solid foundation for sustained growth amid external uncertainties, the survey said.
The survey highlighted that India’s economic prospects for FY26 are balanced. Rural demand backed by a rebound in agricultural production, an anticipated easing of food inflation and a stable macro-economic environment provide an upside to near-term growth. Overall, India will need to improve its global competitiveness through grassroots-level structural reforms and deregulation to reinforce its medium-term growth potential.
Headwinds to growth include elevated geopolitical and trade uncertainties and possible commodity price shocks. Domestically, the translation of order books of private capital goods sector into sustained investment pick-up, improvements in consumer confidence, and corporate wage pick-up will be key to promoting growth, it said.
The survey suggested that navigating global headwinds would require strategic and prudent policy management and reinforcing the domestic fundamentals.
Earlier, the Budget session of Parliament commenced with President Murmu addressing the joint sitting of the Lok Sabha and the Rajya Sabha.
The government has listed 16 draft legislations for consideration, including a Bill to regulate immigration and another to amend the Waqf Act of 1995.
The principal highlight of the session will be the presentation of the Union Budget by Finance Minister Nirmala Sitharaman for the record eighth time on February 1.
The session is expected to be a stormy affair with the Opposition all set to take on the government over Maha Kumbh stampede deaths and the Waqf Amendment Bill. —with PTI
January 31, 2025 1:23 pm
Finance Minister Nirmala Sitharaman on Friday presented the Economic Survey 2024-25 in the Lok Sabha. The Economic Survey is an annual document presented by the government ahead of the Union Budget to review the state of the economy. The document also provides an overview of the short-to-medium-term prospects of the economy.
January 31, 2025 12:35 pm
Let us reiterate resolve of unity, and be committed to fulfilling India's dreams, says President Murmu while addressing the joint sitting of Lok Sabha and Rajya Sabha
January 31, 2025 12:31 pm
Digital fraud, cyber crime and deepfake posing challenge to social, economic and national security, says President Murmu
January 31, 2025 12:29 pm
Fight against Left Wing Extremism has reached final stage, number of affected districts has declined sharply to 38, says President Murmu
January 31, 2025 12:25 pm
My government has taken historic steps to protect country's borders and ensure internal security, says President Murmu
January 31, 2025 12:24 pm
My govt has ensured Dalits, STs and OBCs become biggest beneficiaries of our initiatives and schemes, says President Murmu
January 31, 2025 12:20 pm
Situation in Jammu and Kashmir has changed after the abrogation of Article 370, says President Murmu while addressing the joint sitting of the Lok Sabha and the Rajya Sabha
January 31, 2025 12:18 pm
My government has made efforts to end feeling of alienation in people of northeast, says President Murmu while
January 31, 2025 12:16 pm
Government working to give appropriate rates to farm produce and increase income of farmers: President Murmu to joint sitting of both Houses of Parliament
January 31, 2025 12:14 pm
U-WIN portal has been launched to keep accurate track of vaccination schedule for pregnant women and children, says President Murmu
January 31, 2025 12:12 pm
India's Metro network has now crossed the 1,000-km milestone: President Murmu to joint sitting of both Houses of Parliament
January 31, 2025 12:10 pm
My government is continuously working towards ensuring efficiency in cyber security, says President
January 31, 2025 12:09 pm
The Railways will soon connect Kashmir to Kanyakumari as the Udhampur-Baramulla-Srinagar Rail project is now complete, says President Murmu
January 31, 2025 12:08 pm
My government setting up modern education system for students through National Education Policy, says President Murmu
January 31, 2025 12:08 pm
Banking and Digi Payment Sakhis playing important role in connecting people in remote areas to financial system: President Murmu
January 31, 2025 12:05 pm
From start-ups to sports to space, our youth are bringing glory to the country in every field, says President Murmu
January 31, 2025 12:02 pm
More than 91 lakh self-help groups are being empowered under National Rural Livelihood Mission, says President Murmu while addressing a joint session of Parliament
January 31, 2025 11:59 am
My government believes in empowering country under leadership of women, says President Murmu
January 31, 2025 11:57 am
The President in her address noted that the government has decided to expand the Pradhan Mantri Awas Yojana to provide new homes to three crore additional families.
January 31, 2025 11:55 am
Under the Ayushman Bharat scheme, government decided to provide health insurance to 6 crore citizens aged 70 years and above. President Murmu said.
January 31, 2025 11:54 am
The government has placed special focus on the education of youth and is creating new employment opportunities for them.
January 31, 2025 11:53 am
The third term of the government is witnessing work at thrice the speed of previous administrations. Government has taken big decisions on issues such as Waqf boards and One Nation, One Election
January 31, 2025 11:49 am
India is making its presence felt as a major global player in field of digital technology: President
