Economic Survey Highlights Key Areas for Fuelling Future Growth

• The Economic Survey has given a conservative estimate of GDP growth for FY25 in the range of 6.5%-7%, lower than RBI’s projection of 7.2%.
• The survey calls for boosting private sector investment, supporting the growth of MSMEs, removing the growth impediments in the agricultural sector, bridging the education-employment gap, and building state capacity and capability as main areas of focus for fulfilling the vision of Amrit Kaal.
• The survey recommends exploring the possibility of India’s inflation-targeting framework focusing on the inflation rate excluding food.
• With higher participation of the retail investors, the survey cautions about the financialization of economies citing the 2008 global financial crisis example.
• The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce.
• Overall, the survey paints a balanced picture of growth supported by moderation in inflation and a comfortable external situation.

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