FM Nirmala Sitharaman tables Economic Survey 2025–26: GDP, inflation, risks in focus ahead of Budget

Finance Minister Nirmala Sitharaman on Thursday tabled the Economic Survey 2025–26 in Parliament, setting the stage for the Union Budget on February 1. The Survey serves as the government’s official report card on how the economy has performed over the past year, while also outlining the outlook and key risks ahead.

The document, prepared by the Department of Economic Affairs under the Ministry of Finance, is expected to be followed by a media briefing by Chief Economic Adviser V. Anantha Nageswaran.

What the Survey typically covers

The Economic Survey usually maps out the big economic threads, GDP growth and demand trends, inflation and monetary policy signals, fiscal position, external sector performance (including exports, imports and forex trends), and social indicators such as jobs, health and education. It also includes special chapters highlighting emerging policy themes.

With markets on edge ahead of Budget day, investors will closely track the Survey’s reading of global headwinds, fiscal consolidation priorities and sector-specific trends, as these often shape sentiment across equities, bonds and the rupee. While the Survey itself does not announce policy, it often frames the narrative that influences Budget messaging and the next set of economic decisions.

Growth expectations: 7.4% in focus

India could post 7.4% growth, according to a PTI report, higher than last year’s pre-Budget Survey projection of 6.3% to 6.8%. Investors and analysts are expected to track the Survey’s language on global headwinds, fiscal consolidation plans and sector-specific trends, given their influence on sentiment across equities, bonds and currency markets.

The Survey’s policy suggestions are not binding, but they often help set the narrative and shape the assumptions that guide Budget choices and subsequent economic messaging