Economic Survey 2025 Highlights: China is world's sole manufacturing superpower, says CEA

Economic survey 2025 highlights: Check all the updates on economic survey 2025-26

4:44 PM

Economic Survey 2025: Why did growth slowdown in Q2?

The economy slowed in Q2 FY25 for three key reasons:

 

Lower exports – Demand for Indian goods decreased due to trade restrictions and weak global markets.

 

Monsoon impact – While good for agriculture, heavy rains disrupted mining, construction, and some manufacturing sectors.

 

Festivals timing – Some major festivals were celebrated later than usual, affecting economic activity in Q2.

3:56 PM

Economic Survey 2025: 'Expect RBI to take further action to ease liquidity'

According to Shravan Shetty, Managing Director, Primus Partners, "The economic survey has highlighted the strength of the banking with a healthy asset book and GNPA at a 12-year low of 2.6 per cent  indicating an opportunity to fund India's growth. We expect RBI to take further action to ease liquidity. In addition, the survey has highlighted the increase in resource mobilisation from primary markets with a record number of IPOs indicating appetite to fund growth. We believe there is a need now for the budget to adopt measures to attract foreign capital and kickstart private capital expenditure to further enhance access to capital and leverage it to achieve close to 8 per cent GDP growth."

 

3:46 PM

Economic Survey bats for climate-resistant farming; says consistent 5% growth will absorb surplus farm labour

Pointing towards a growing climate-crisis that India’s farm sector faces, the Economic Survey of FY-25 calls for making the sector free, empowered and emboldened to diversify away from water-dependent crops.

 

It also batted for a sharp rise in irrigation and investments in agriculture research to fight the growing impact of climate change on the country’s farm sector.

 

“Most studies have suggested that droughts and heat waves negatively impact agricultural productivity compared to floods and cold waves in India. It is, therefore, pertinent to increase the area under irrigation and diversify towards heat and water-resistant crops,” the survey said.

3:38 PM

Economic Survey 2025 LIVE updates: India's economic performance:

- India's real GDP is estimated to grow by 6.4% in FY25, driven by agriculture and services.

- Rural demand improved due to record Kharif production.

- Manufacturing faced pressure from weak global demand.

- Macroeconomic stability was maintained through fiscal discipline and a strong external balance.

- Money supply (M3) growth moderated to 9.3% (YoY) as of December 2024.

- A higher money multiplier indicates increased liquidity in the economy.

3:21 PM

Economic Survey 2025 LIVE updates: India's share in global IPO listings surged to 30% in 2024

India's share in global IPO listings surged to 30 per cent in 2024, up from 17 per cent in 2023, making it the leading contributor of primary resource mobilisation globally.

3:15 PM

Economic Survey 2025: AI an unprecedented opportunity & challenges

The Economic Survey 2024-25 said that the rapid advancement of artificial intelligence (AI) presents both unprecedented opportunities and significant challenges for labor markets worldwide. For India to seriously consider the effects of AI, actions will have to focus on strong Institution building, said the survey.

 

“In this context, as policymakers, it is important to pay attention to the evolving technological landscape and the potential impact it can have on the labour market,” said the survey. The Economic Survey talks in detail on the impact of AI on India and what should be the focus.

 

The Survey also suggests that the government may look at taxation of profits generated by companies from the replacement of labour with technology.

3:13 PM

Economic Survey 2025: 'Well-balanced approach will be important to keep this momentum going'

According to Vaidyanathan V, CFO at Great Lakes Institute of Management, Chennai, "Budget 2025 comes at a time when India’s economy is growing steadily but faces global uncertainties. A well-balanced approach such as boosting infrastructure, sustaining rural demand, and strengthening private investment will be important to keep this momentum going. Sectors such as manufacturing, services, and digital innovation need continued policy support to drive employment and long-term stability. Ensuring capital flow into high-impact areas such as MSMEs, skilling, and emerging technologies will strengthen India’s economic resilience in the years ahead."

 

3:10 PM

Over 60-hr work week could have adverse health effects, notes Eco Survey

"While the hours spent at work are informally considered a measure of productivity, a previous study has documented adverse health effects when hours exceed 55-60 per week," the survey said, citing findings by Pega F, Nafradi B (2021) and 'A systematic analysis from the WHO/ILO Joint Estimates of the Work-related Burden of Disease and Injury'

3:08 PM

Economic Survey calls for discouraging overproduction of cereals

The Economic Survey 2024-25 stressed that India's agriculture sector has "significant untapped growth potential" despite various growth initiatives. Farmers must be allowed to receive unimpeded price signals from the market, with separate mechanisms to protect vulnerable households, it added.

2:54 PM

Economic Survey 2025: Increasing limit for collateral-free agricultural loans

Another significant measure to improve credit access for small and marginal farmers includes increasing the limit for collateral-free agricultural loans from Rs 1.6 lakh to Rs 2 lakh.

2:50 PM

Economic Survey: Net EPFO subscriptions more than doubling from 6.1 mn in FY19 to 13.1 mn in FY24

The formal sector in India has seen significant growth, with net Employees’ Provident Fund Organisation (EPFO) subscriptions more than doubling from 6.1 million in FY19 to 13.1 million in FY24

2:41 PM

Economic Survey 2025 LIVE updates: 'May be challenging to achieve the projected growth rate'

Speaking on the Economic Survey 2024-2025, Ranen Banerjee, Partner and Leader Economic Advisory, PwC India, said, "The Economic Survey summarises the challenges facing the Indian economy, with more headwinds than tailwinds listed. It may be challenging to achieve the projected growth rate of 6.3–6.8 per cent, given that growth in the fast lane is predicated on difficult deregulation and reforms at grass-roots level. The survey hints at continued fiscal consolidation in the upcoming budget and at nudging the Monetary Policy Committee for policy support towards the growth engine in FY26."

2:35 PM

Economic Survey 2025: India’s forex reserves are sufficient to cover 90% of external debt

India’s foreign exchange reserves increased from $616.7 billion at the end of January 2024 to $704.9 billion in September 2024, according to the Economic Survey.

2:33 PM

Economic Survey 2025: For 23 states, GST was the main source of revenue amongst ORR

2:21 PM

Economic Survey 2025: India will need to prioritise investment in grid infrastructure improvements

2:11 PM

Economic Survey: School education system serves 248 mn students across 1.4 mn schools with 9.8 mn teachers

2:07 PM

Economic Survey 2025 LIVE Updates: 'Spending free time on social media has worsened mental well-being'

2:03 PM

Economic Survey 2025 warns of 'meaningful stock market correction' in 2025

Elevated valuations and optimistic market sentiments in the United States (US) have raised the likelihood of a 'meaningful market correction' in 2025 in the Indian stock markets, said the Economic Survey 2025 tabled in the Parliament on Friday.

 

Should such a correction occur, the Economic Survey 2025 cautioned, it could have a cascading effect on India, especially given the increased participation of young, relatively new retail investors in the Indian stock markets.

2:00 PM

Economic Survey 2025 LIVE Updates: Govt capex to pick further pace

According to the Economic Survey document, "Union government capex is up 8.2 per cent in July – November 2024 and is expected to pick up further pace. Early results of the RBI’s Order Books, Inventory, and Capacity Utilisation Survey (OBICUS) show that the seasonally adjusted capacity utilisation (CU) in manufacturing firms was 74.7 per cent in Q2 FY25, above the long term average of 73.8 per cent." 

1:57 PM

Economic Survey 2025 LIVE Updates: Real GVA estimated to grow by 6.4% in FY25

On the supply side, real GVA is also estimated to grow by 6.4 per cent in FY25, according to the Economic Survey. The agriculture sector is expected to rebound to a growth of 3.8 per cent in FY25. The industrial sector is estimated to grow by 6.2 per cent in FY25

1:49 PM

Economic Survey 2025 LIVE Updates: 'Strong message for initiating Ease of Doing Business at state levels'

The GDP growth rate band of 6.3-6.8 per cent is commendable given the uncertainty surrounding the global business environment. Speaking on the survey, Dr Vikas Prakash, Director - PGPM & Professor, Great Lakes Institute of Management, Gurgaon, said, "The Chief Economic Advisor needs to be given full credit. Deregulation is the main theme of the Economic Survey. It says ‘Get out of the Way’. If we recall the 1991 budget presentation we see it was more of getting out of the way of the business than giving fiscal incentives. This theme comes from the fact that the private sector’s contribution to investment has been lacking."

 

He added, "The lack of fiscal room with the government can be compensated by getting out of the way. The economic survey gives a strong message for initiating ‘Ease of Doing Business’ at state levels. Several states have very high stamp duty. It needs to be rationalised. Factory act needs to be reformed. While we have been giving more incentives to MSMEs it has in turn discouraged companies to go beyond MSME status... The budget will have to do something to rationalise the incentives to MSMEs and large-scale companies."

1:39 PM

Economic Survey 2025 LIVE Updates: India was the top recipient of remittances in the world in FY25

The survey highlights that India was the top recipient of remittances in the world, driven by an uptick in job creation in OECD economies. "These two factors combined to ensure that India’s current account deficit (CAD) remains relatively contained at 1.2 per cent of GDP in Q2 FY25," it added.

1:34 PM

Economic Survey 2025 LIVE Updates: 'Push toward manufacturing, infra can increase productivity'

Speaking on the Economic Survey, Prof Vishwanathan Iyer, Professor of Finance at Great Lakes Institute of Management, Chennai, said, "With India's projected GDP growth of 6.3 per cent to 6.8 per cent in fiscal year 2026, the 2025 budget is important for sustaining economic momentum. An important push toward manufacturing, infrastructure and digital transformation can increase large productivity and large job creation. India's continued economic growth will depend considerably on planned investments in small and medium-sized enterprises, skill development and AI-driven innovation."

1:29 PM

Indian economy on a steady growth path; macroeconomic health checklist looks good: CEA

As the country aims to accelerate its economic growth rate in the coming years, it has the tailwind of strong balance sheets in the domestic corporate and financial sectors. But, globalisation is on the retreat. Hence, raising the growth average in the next two decades will require reaping the demographic dividend through a deregulation stimulus. As the Spartans apparently believed, “the more you sweat in peace, the less you bleed in war”. This Economic Survey is all about that, or so we would like to believe.

1:25 PM

India faces limitations in producing critical goods at scale & quality required to serve infra: Survey

According to the report, "India has low production capacity in the solar energy sector for key components like polysilicon, ingots, and wafers. The production capacity of monocrystalline silicon ingot is expected to quintuple by 2025 from 2 GW in 2023, but it won’t be enough to meet the demand in the country."

1:09 PM

Lok Sabha adjourned till 11 am on Feb 1

The Economic Survey was tabled in the Lok Sabha by Union Finance Minister Nirmala Sitharaman. Shortly after, the House was adjourned until 11 a.m. on February 1.

12:54 PM

Before the tabling of the Economic Survey 2025, the House paid homage to former Prime Minister Manmohan Singh

Speaker Om Birla lists out achievements of the former PM.

12:38 PM

Economic Survey 2025 LIVE: President Murmu highlights record infra investments in past 6 months

During the Economic Survey 2025 session, President Murmu shared that the government had made unprecedented investments in infrastructure over the last six months. She proudly announced the completion of the Udhampur-Srinagar-Baramulla rail link project, which now connects Kashmir to Kanyakumari via rail. "As part of this visionary initiative, the world's highest rail bridge has been built over the Chenab River," said President Murmu, marking a significant achievement in the country’s infrastructure development.

12:35 PM

Economic Survey 2025 LIVE Updates: Budget expectations for fin-tech & health insurance industry

Anshul Khurana, co-founder and CEO – Entitled Solutions, highlighted three key expectations:-

 

1. Financial Inclusion: Regulatory tightening in recent years has impacted access to credit for urban low-income groups and reduced rural infrastructure like micro-ATMs. We hope for regulatory stability and clarity around NBFC and fintech partnerships, alongside initiatives that renew the focus on inclusion.

2. Labour Codes for Gig Workers: Gig workers have significantly contributed to employment generation. Formal recognition and comprehensive social security coverage under the labour codes could elevate this sector further.

3. Healthcare for Urban Low-Income Households: This segment often falls between the cracks — neither classified as BPL nor EWS — yet is equally in need. Budget measures like GST removal on insurance, incentivising standard health coverage plans, and expanding the Ayushman Bharat program to include these households could ensure better access to essential healthcare".

12:06 PM

Economic Survey 2025 LIVE updates: Govt committed to women-led development, says President Droupadi Murmu

Key highlights from President Murmu's address:-

 

• The government is committed to women-led development, aiming to create three crore ‘Lakhpati Didis’ (financially independent women).
• Over 91 lakh self-help groups are being empowered under the National Rural Livelihood Mission.
• Special efforts are being made to provide new education and employment opportunities for the youth.
• The India AI Mission has been launched to make India a global innovation powerhouse in artificial intelligence.