
Presented today by Finance Minister Nirmala Sitharaman, the Economic Survey 2024-25 outlines a positive yet cautious outlook for India’s economy. The survey projects a steady real GDP growth of 6.4% for FY25, aligning with the country’s average growth rate over the past decade. This forecast comes at a time when the global economy faces uncertainty, with the International Monetary Fund (IMF) projecting a modest 3.2% growth worldwide over the next five years.
India’s economic resilience in the face of global challenges is largely attributed to strong domestic demand, especially in rural areas. Private consumption, a key driver of growth, is expected to increase by 7.3% in FY25. Alongside this, the Gross Value Added (GVA) across major sectors such as agriculture, industry, and services is projected to grow by 6.4%, contributing to a balanced and broad-based economic expansion.
Also read: Yamuna Contamination Issue: Arvind Kejriwal Responds to Election Commission
While global demand remains weak and manufacturing slowdowns persist in regions like Europe and Asia, India’s services sector continues to shine. Services exports surged by 12.8% from April to November 2024, demonstrating India’s competitive edge in global trade. With inflation under control and continued investments in infrastructure, India is expected to maintain a growth range of 6.3% to 6.8% in FY26.
The focus on structural reforms, deregulation, and strengthening domestic capabilities presents a hopeful outlook for India’s future. Despite the challenges on the global stage, India is set to remain a beacon of stability and growth.