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

Economic Survey 2025: The Union Budget session 2025 began on Friday (January 31) with President Droupadi Murmu addressing both Houses of Parliament. Later, Union Finance Minister Nirmala Sitharaman presented the Economic Survey 2025. However, shortly after, both the Houses -- the Lok Sabha and the Rajya Sabha -- were adjourned.  The Economic Survey report examines the country's infrastructure, agriculture, and industrial development while identifying key sectors with growth potential. The document is prepared by a team led by Chief Economic Adviser V Anantha Nageswaran.   According to the survey, financial, real estate and professional services have taken the lead, surpassing pre-pandemic trend levels by the end of FY23. "As per the first advance estimates (FAE) released by MoSPI, the real GVA growth for FY25 is estimated to be 6.4 per cent," added the report.   Earlier, in her address at the start of the Budget session, President Droupadi Murmu highlighted government's ambitions. She said, "The Pradhan Mantri Awas Yojana will be expanded to provide new homes for three crore more families... The government remains committed to fulfilling the dream of the middle class to own a house." Murmu added, "Under the Ayushman Bharat scheme, six crore senior citizens aged 70 years and above will receive health insurance."  The Economic Survey mentioned the successful labour reforms that have improved both business conditions and worker rights. These reforms aim to create more jobs and ensure sustainable employment growth.   

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