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New Delhi5 months ago
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Finance Minister Nirmala Sitharaman laid the Economic Survey on the table of Parliament on 31 January.
Finance Minister Nirmala Sitharaman presented the Economic Survey on 31 January today. According to this, GDP growth is estimated to be 6.3% to 6.8% from FY26 i.e. 1 April 2025 to 31 March 2026. Retail inflation increased to 4.9% in April-December 2024.
The Economic Survey is presented a day before the budget. It contains many information including GDP’s estimate and inflation. This shows how the condition of our country’s economy is. The Department of Economic Affairs prepares it.
6 big things of Economic Survey 2025:
- Economy is estimated to grow at a speed of 6.3% to 6.8% in 2025-2026. The survey said that by 2047, India will have to grow economic development at the rate of 8 to two decades to create a developed India.
- Retail inflation was 5.4% in 2023-2024, which increased to 4.9% in April-December 2024. There is expected a decrease in inflation in the fourth quarter. Due to bad weather, low yield, food inflation increased due to obstruction of supply chain.
- The survey said that the situation in the labor market has improved in 7 years. The unemployment rate fell to 3.2% in FY24. At the same time, the net parole in EPFO doubled in the last 6 years, which is a good sign of employment in the organized sector.
- The rapid development of AI is not only creating new opportunities in the global labor market, but also creating important challenges. Changes caused by AI need to reduce the adverse effects.
- India needs to invest in infrastructure for sharp growth in the next 20 years. In the last 5 years, the government has focused on physical, digital and social infrastructure. Public funding will not fulfill these needs alone, so private participation will have to be increased.
- The biggest risk in front of Indian markets is related to America. In the survey, the high -purpose of correction is described in the US market. This may affect the Indian stock market, especially on retail investors.
Apart from this, some other announcements were made
- 5,853 km of National Highway was built in April to December in 2024-25. In the water life mission, 12 crore houses got drinking water from pipes.
- The 2031 km rail network started between April and November 2024. During this, 17 new pair of Vande Bharat trains were started. There is a plan to expand further.
- Between April and December 24, the agricultural sector was 3.5% growth rate. Drone and better quality seeds increased yield. Government schemes like PM Kisan also benefited.
- From April to September 2024, a $ 29.8 billion foreign direct investment came in the service sector. The highest number of possibilities in the $ 5.7 billion service sector.
- The survey states that tax exemption and subsidy on electric vehicle (EV) can motivate people to adopt lifestyle with low carbon emissions.
- In 2024-25, government spending increased at the rate of 38%. Between 2020 and 2024 was 38.8%. Decreased in 2024–25, but increased in July-November after the election.
Inflation came to a 4 -month low in December
Retail inflation came to a 4-month low in December due to food and drink cheap. According to government data, inflation has come down to 5.22%. Earlier in November, the inflation was at 5.48%. At the same time, inflation was at 3.65% in August 4 months ago.
About 50% contribution to inflation baskets is food and drink. Its inflation has come down from 9.04% to 8.39% on a month-month basis. At the same time, rural inflation has come down from 5.95% to 5.76% and urban inflation has come down from 4.89% to 4.58%.
What is an Economic Survey?
We live in the country where the middle class people have a lot of number. A diary is made in most of the houses here. In this diary, he keeps full accounts.
After the year the year is over, when we see, it is known how our house was? Where did we spend? How much did you earn? How much saved? Based on this, then we decide how we have to spend in the coming year? How much to save? How will our condition be?
Just like the diary of our house, the Economic Survey is done. This shows how the condition of our country’s economy is? The Economic Survey mentions last year accounting and suggestions, challenges and solutions for the year to come. The Economic Survey is presented a day before the budget.
Who prepares the Economic Survey?
Economic Affairs is under one department under the Finance Ministry. It has an Economic Division Under. This Economic Division Chief Economic Advisor i.e. CEA prepares the Economic Survey under the supervision of CEA. CEA is currently Dr. V Anant Nagswaran.
Why is an economic survey necessary?
This is necessary in many ways. The Economic Survey in a way works like a direction for our economy, because this shows how our economy is going and what we need to do to improve it.
Is it necessary for the government to present it?
The government is not obliged to present the survey and accept the suggestions or recommendations made in it. If the government wants, it can dismiss all the suggestions given in it. Nevertheless, it is important, because it shows the account of the economy of the last year.
The first Economic Survey was introduced in 1950-51
India’s first Economic Survey was introduced as a part of the Union Budget in 1950–51. However, since 1964, the survey was separated from the Union Budget. Since then, an Economic Survey is released just one day before presenting the budget.
