Modinomics 2025 | Budget Session | Economic Survey 2025 | Path To 'Viksit Bharat' | FM Sitharaman

Union Finance Minister Nirmala Sitharaman tabled the Economic Survey 2025 in the Lok Sabha on Friday, January 31. The Survey outlines India's goal to become a developed nation, or 'Viksit Bharat,' by 2047, which requires maintaining an average growth rate of 8% over the next two decades. To achieve this ambitious target, the Survey emphasizes the need to address global challenges and enhance domestic policies, infrastructure, technology, and human capital. The Economic Survey estimates India's GDP growth to range between 6.3% and 6.8% for FY26. While acknowledging the potential for growth, the Survey also highlights the many challenges ahead. It points to positive factors such as domestic investment, output growth, and disinflation, but also notes the significant external risks. Despite these challenges, India’s economy remains fundamentally strong, supported by a stable external account, calibrated fiscal consolidation, and steady private consumption. The expected growth rate of 6.3% to 6.8% for FY26 is based on these considerations. The Survey stresses that managing global headwinds will require strategic and prudent policy measures, alongside reinforcing the strength of domestic fundamentals. It calls for reforms at the grassroots level to boost competitiveness and raise trend growth rates. While the global outlook for 2024 indicates steady growth, there are regional variations, and global growth is expected to be slightly lower than the trend level. The services sector in India continues to show resilience, which is positive for the economy. Watch Sajjid Z. Chinoy, MD & Chief India Economist at JP Morgan; Aditi Nayar, Chief Economist at ICRA; and Indranil Pan, Chief Economist at YES Bank, in discussion with Siddharth Zarabi, Editor of Business Today, as they discuss the key highlights of the Economic Survey 2025.