Economic Survey 2025 !!! Reforms are ought to come !! Eco. Survey says Govt should get 'out of the way’ and allow businesses to focus on core mission ....

Economic Survey 2025 

"The government should be ‘getting out of the way’ and allow businesses to focus on their core mission," the document said.

Union Finance Minister Nirmala Sitharaman tabled the Economic Survey in the Lok Sabha on Day 1 of Budget Session of Parliament on Jan 31. 

The critical pre-budget document said that "going forward, food inflation is likely to soften in Q4." 

Another key aspect that the Economic Survey highlighted was Ease of Doing Business 2.0.  

The Economic Survey has projected a growth rate between 6.3% and 6.8%, aligning with the International Monetary Fund’s (IMF) estimate of around 6.5% annual growth between FY26 and FY30. The upper range of the Eco Survey’s growth estimate is also higher than 6.4% as pegged by the first advance estimates, released by the National Statistics Office (NSO).

The survey noted that agriculture remains a strong pillar of economic growth, recording a 3.5% growth rate in Q2 FY25.

The Economic Survey 2024-25 indicated that India is on a steady growth path and poised for better performance in the future.

It also outlined some critical economic challenges and addressed key themes like ‘Viksit Bharat’ and artificial intelligence (AI).

The strides in promoting domestic manufacturing, through schemes such as FAME India, PLI for Auto Components and SPMEPCI, embody our commitment to aligning growth with sustainable practices, exemplified by the vision to decarbonize road transportation. 

However, navigating this journey warrants the successful integration of labour and technology, two elements when balanced, amplify each other's potential. The concept of 'Augmented Intelligence' resonates profoundly in this context. 

By merging human and machine capabilities, India can enhance human potential and job efficiency, culminating in a societal benefit. The domestic technology landscape looks promising as the country makes a shift from a service provider to a global R&D hub with tech exports in the domestic market expanding by 5.9 per cent, exceeding USD54 billion in FY24, said

-- Akhilesh Tuteja, Partner and Head, Clients and Markets and Head Technology, Media and Telecommunications

The Survey said India’s goal to become a developed economy by 2047 depends on achieving an average growth rate of 8% at constant prices for the next two decades.

It also stressed that while AI’s impact on jobs remains uncertain, complacency could prove costly for India.

The survey warns that while AI boosts productivity, it could disrupt India’s labour-intensive economy. A rushed transition may spur demands for policy intervention, including taxation on AI-driven profits, which the IMF cautions could hurt growth.

The report called for a balanced approach, urging collaboration between the government, the private sector, and academia to ensure inclusive gains.

Fiscal consolidation has only one reference, indicating shifting priorities of the government.

“… the fundamentals of the domestic economy remain robust, with a strong external account, calibrated fiscal consolidation and stable private consumption,” the Survey noted.