New Delhi: 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 USD 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
* Research 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.
