India Prepares for Budget 2025-26: Key Insights from the Economic Survey

Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-25 to both houses of Parliament, marking it as a precursor to the upcoming Budget 2025-26. The survey provides insights into the current state and projected trajectory of India's economy, highlighting its recent growth and challenging forecasts.

In a pivotal move preceding the Union Budget presentation for 2025-26, Finance Minister Nirmala Sitharaman tabled the Economic Survey for 2024-25 in both the Lok Sabha and Rajya Sabha. Following this, both houses were adjourned for the day.

The Economic Survey, curated under the chief economic adviser's guidance within the Ministry of Finance, offers a detailed analysis of the economy's present state along with forecasts. It traditionally foreshadows crucial elements of the forthcoming budget, scheduled for presentation this Saturday.

India's economic growth has shown mixed signals; the GDP expanded by 5.4% in the July-September quarter, falling short of RBI's anticipated 7% growth. The Reserve Bank has since lowered its growth forecast for 2024-25 to 6.6% from an initial 7.2%, while the government predicts a growth of 6.4%.

(With inputs from agencies.)