#Modinomics2025 | Viksit Bharat | Eco Survey 2024-25 | Exclusive Chat With CEA Dr. V A Nageswaran

Union Finance Minister Nirmala Sitharaman tables the Economic Survey 2024-25 in the Lok Sabha on Friday, January 31. The Survey outlines India’s aspiration to become a developed nation, or 'Viksit Bharat,' by 2047, which necessitates an average growth rate of 8% over the next two decades. To meet this ambitious goal, the Survey stresses the importance of addressing global challenges and improving domestic policies, infrastructure, technology, and human capital. The Economic Survey forecasts India’s GDP growth to range between 6.3% and 6.8% for FY26. While the Survey acknowledges potential growth, it also highlights the significant challenges ahead. Positive factors such as domestic investment, output growth, and disinflation are noted, but external risks remain a concern. Despite these challenges, India’s economy remains robust, supported by a stable external account, balanced fiscal consolidation, and steady private consumption. The projected growth rate for FY26 reflects these factors. The Survey emphasizes that navigating global headwinds will require strategic policy decisions and reinforcement of domestic economic strengths. It calls for grassroots-level reforms to enhance competitiveness and boost trend growth rates. The global outlook for 2024 suggests steady growth, though regional variations exist, with global growth expected to be slightly below trend. India’s services sector shows continued resilience, which bodes well for the economy. Watch exclusive chat with Dr. V. Anantha Nageswaran, Chief Economic Adviser, in conversation with Siddharth Zarabi, Editor of Business Today.