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N R Bhanumurthy is vice chancellor, Dr BR Ambedkar School of Economics University, Bengaluru. He has also had long stints as a professor at NIPFP, New Delhi and as assistant professor and associate professor at the Institute of Economic Growth, Delhi. Since 2010, he has also been a managing trustee of the Indian Econometric Society Trust and of the Indian Economic Association Trust for Research and Development.
N R Bhanumurthy is vice chancellor, Dr BR Ambedkar School of Economics University, Bengaluru. He has also had long stints as a professor at NIPFP, New Delhi and as assistant professor and associate professor at the Institute of Economic Growth, Delhi. Since 2010, he has also been a managing trustee of the Indian Econometric Society Trust and of the Indian Economic Association Trust for Research and Development.
Economic Survey 2025-26 underscores India's macro stability, reform-led growth, and fiscal discipline, while warning that weak state finances pose emerging risks
The forthcoming Budget could think of maintaining public capital expenditure at 3% so that domestic resources are available for private investments
The Survey, while underplaying the short-term outlook, takes a wider and long-term perspective on growth and presents a reform agenda in order to achieve the 2047 goal
The key change on the expenditure side is the focus on outcomes as well as saturation of beneficiaries
Economy-wide modelling while facing multiple exogenous shocks is clearly a task that is challenging and risky
The Survey forecast appears to be on a higher side, which could be aspirational and depends on the Budget proposals.
Having adopted flexible inflation targeting, macroeconomic consistency can be achieved through the adoption of flexible fiscal targets