Economic Survey 2024-2025
The Economic Survey 2024-2025 was announced on Friday, ahead of Union Budget 2025-2026. It provides a detailed analysis of the country’s economic health over the past year and offers insights into key economic indicators for 2024-25 (April-March) along with predictions for the next financial year. First Economic Survey was introduced in 1950-51 as part of the Union Budget documents.
'I bow to Godess Lakshmi'
Ahead of the presentation of the survey, PM Modi's addressed media outside the Parliament Friends, He sought the blessing of Goddess Lakshmi, the goddess of prosperity and said, “I pray to Maa Lakshmi that every poor and middle class community of the country should be blessed with the special blessings of Maa Lakshmi.”
(Agencies)
President Murmu arrived in a buggy
Ahead of the survey, President Droupadi Murmu arrived at the Parliament in a traditional six-horse ceremonial buggy, escorted by the Presidential bodyguard. She addressed a joint Parliament session and expressed confidence that, due to the government's efforts, India is set to become the world's third-largest economy.
(Image credit: PTI)
Growth rate to fall between 6.3% to 6.8%
In the Economic Survey highlighted that India's economy is expected to achieve a growth rate between 6.3 per cent and 6.8 per cent in FY26 and the country maintains strong economic fundamentals, boosted by a healthy external account, progressive fiscal consolidation and sustained private consumption.
(Image credit: ANI)
Boosting R&D and MSMEs
The Survey said government's strategy focuses on boosting long-term industrial development through emphasis on research and development (R&D), micro, small, and medium enterprises (MSMEs), and capital goods sectors to boost efficiency, creativity and international competitiveness.
(Image credit: ChatGPT)
Food prices and inflation
The report indicated that Q4 FY25 should see reduced food inflation, attributed to seasonal vegetable price reductions and Kharif harvest arrival. Additionally, anticipated good Rabi yields should help control food prices in early FY26, though climate issues and rising global agricultural prices pose inflation risks.
(Image credit: ChatGPT)
Robust forex kitty
The survey showed that India's foreign exchange is expected to show an uptick, standing at $640.3 billion as of the end of December 2024. It also added that the country's external sector continued to display resilience amidst global headwinds of economic and trade policy uncertainties.
(Image credit: ChatGPT)
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