Highlights of the Economic Survey 2024-25

Following are the highlights of Economic Survey 2024-25:

• Indian economy to grow at 6.3-6.8 pc in FY26, against 6.4 pc in FY25

• India's economic fundamentals robust, backed by calibrated fiscal consolidation, stable consumption

• Navigating global headwinds will require strategic, prudent policy management and reinforcing the domestic fundamentals

• Risks to inflation remain on account of significant global political, economic uncertainties

• Investment activity expected to pick up, supported by higher public capex and improving business expectations

• India needs to improve its global competitiveness through grassroots-level structural reforms

• Forex at $640.3 billion, sufficient to cover 10.9 months of imports and 90 per cent of external debt

• Ease of Doing Business (EoDB) 2.0 should be a state government-led initiative focused on fixing the root causes behind the unease of doing business

• India should redouble its efforts to boost exports and attract investment. One way to do this is to benchmark ourselves to the rest of the world rather than our past.

• India needs a continued step-up of infrastructure investment over the next two decades for high growth

• Only few states like Gujarat, Uttarakhand and Himachal Pradesh are able to cash on their high dependence on industrial sector to generate reasonable levels of incomes for their people

• Service oriented Indian economy vulnerable to automation, impact of AI is magnified for India given its size and its relatively low per capita income

• Corporate sector has to display a high degree of social responsibility

• Reserach to increase pulses, oilseeds, tomato, onion production needed to develop climate-resilient crop varieties, enhancing yield and reducing crop damage

• India needs to grow by 8 per cent on average for about a decade or two to become a developed nation by 2047

• Investments need to grow at 35 pc, up from 31 pc, to achieve required growth

• Focus of reforms, economic policy must now be on systematic deregulation

• Need to develop the manufacturing sector further and invest in emerging technologies such as AI, robotics, and biotechnology.