Finance Minister Nirmala Sitharaman tables Financial Survey 2024-25 in Lok Sabha – Firstpost

Finance Minister Nirmala Sitharaman tabled the Financial Survey in Lok Sabha on Friday. The survey pegged India’s progress within the monetary yr 2026 at 6.3-6.8 per cent.

The financial survey, documented by a crew below Chief Financial Adviser V Anantha Nageswaran, was tabled only a day forward of the Union Price range. It supplies an general evaluation of India’s financial efficiency within the present fiscal yr.

On Saturday, Finance Minister Sitharaman will desk the primary full Price range of the Modi 3.0 authorities. Expectations embody tweaking earnings tax slabs, a serious infrastructure sector increase, and bigger rural growth and schooling sector allocations. 

Listed here are the principle highlights of the Financial Survey 2024-25:

• India’s financial system to develop at 6.3 to six.8 per cent in FY26. That is according to the Worldwide Financial Fund’s projection which estimated India’s progress at 6.5 per cent

• The survey highlights that inflation in India will witness optimistic indicators in inflation administration. The Reserve Financial institution of India and the IMF have projected that India’s shopper worth inflation will align with the goal of 4 per cent within the subsequent monetary yr

• India’s actual gross home product (GDP) progress of 6.4 per cent in FY25 has remained near the decadal common, based on the survey

• It has additionally talked about the varied authorities schemes which have helped within the progress of the Indian financial system. These embody the Jal Jeevan Mission below which just about 12 crore households throughout the nation have gained entry to piped consuming water

• The nationwide annual unemployment charge (UR) for people aged 15 and above (typical standing) has constantly decreased from 6 per cent in 2017-18 to three.2 per cent in 2023-24

• The survey says, “Strategic and systematic deregulation can catalyse progress, innovation, and competitiveness and is vital to encourage innovation for creation of a viable Mittelstand, i.e. India’s SME sector. With deregulation, India’s Mittelstand can assist the states climate financial shocks, allow India to understand its manufacturing aspirations, appeal to long-term investments, and encourage progress which might be sustainable and ’employment-sensitive’”

• India’s agriculture sector recorded a progress of three.5 per cent within the second quarter of FY24-25. A great monsoon season within the subsequent monetary yr is predicted to yield a superb manufacturing of Kharif foodgrains which is predicted to achieve 1647.05 Lakh Metric Tonnes (LMT)

• The survey says that India is the second-largest exporter of telecom companies globally and accounts for 10.2 per cent of the worldwide export market. Companies sector exports have demonstrated robust efficiency, rising by 11.6 per cent within the first 9 months of FY25 amidst difficult geopolitical circumstances