'We believe the truth is in the middle, and that India is at an important crossroads.'
The Economic Survey on Thursday projected the GDP growth in the range of 6.8 to 7.2 per cent in 2026-27, a tad lower than 7.4 per cent estimated in the current fiscal.
Benchmark lending rates unchanged with repo rate at 5.25%
Through policy interventions, Indian cities need to be reimagined as a network of inter-connected assets and services which serve to strengthen the social contract between citizens and their cities by improving their quality of life, the Economic Survey has flagged.
India must focus on building enduring national capabilities and economic sovereignty in the face of shrinking space for rules-based trading, anti-immigrant stance, weaponization of energy sources and growing use of export controls in critical sectors, the Economic Survey said on Thursday.
Highlights of the Economic Survey 2025-26
The country's primary capital markets delivered a robust performance in FY26, emerging as a global leader in initial public offerings (IPOs) despite an uncertain environment, the Economic Survey said on Thursday.
According to the Economic Survey 2026, the appropriate stance for 2026 is therefore one of strategic sobriety rather than defensive pessimism.
This year's Economic Survey and the Union Budget were more closely followed for more reasons than one.
Overall economic activity continued to hold up in November with demand conditions remaining robust, thanks to strengthening urban demand, but manufacturing and rural demand showed some signs of deceleration even as services remained strong, according to an article on the State of the Economy written by Reserve Bank of India (RBI) officials in the central bank's December bulletin.
The change in the government's engagement with the economy's need for reforms is more nuanced than how analysts have so far perceived it, points out A K Bhattacharya.
India, the world's fourth largest economy, is set to maintain the 'goldilocks' phase with tailwinds of good growth, low inflation and robust banking performance as well as reform initiatives poised to sustain the economic pace witnessed during 2025.
Two of the three strikes are related to the gig economy, a centrepiece of the new labour Codes.
While many areas compete for resources, defence, education, and adaptation deserve focus for maximum impact, suggests Laveesh Bhandari.
'In the long run, India's strong growth story and reforms to make assets globally attractive will determine the rupee's resilience.'
India and the US have entered a new phase in their relationship, marked by greater parity, point out Harsh V Pant and Vivek Mishra.
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
The Budget emerges as a measured, credible and forward-looking policy document that reinforces India's commitment to remaining a stable, reform-oriented economy amid an increasingly fragmented global landscape, says A Balasubramanian.
The Congress party has strongly criticized the Union Budget, calling it 'lacklustre' and 'disappointing,' claiming it fails to address the needs of farmers, unemployed youth, and other key sectors.
British billionaire Jim Ratcliffe apologises after claiming the UK had been 'colonised by immigrants,' sparking criticism from political leaders.
After the last Budget's announcement of a major tax relief for those earning an annual salary of less than Rs 12 lakh, there is not much that individuals can look forward to in the forthcoming Budget, points out A K Bhattacharya.
'My argument was straightforward: If the Constitution allows this reservation and SC/ST and OBC candidates are already getting reservation in private institutions -- backed by Constitution Bench orders -- then not extending the same to EWS candidates directly violates the 103rd Amendment and Article 14, which guarantees the right to equality.'
'Credit growth in India remains in double digits, even though corporate borrowing is subdued.' 'Corporate credit is weak because companies are cash-rich and cautious amid global uncertainty.'
India is growing fast, but to keep growing strong, the government must make more things at home, create jobs, and spend money wisely, suggests Rajiv Memani, regional managing partner, Africa-India Region, EY.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
This is the first Budget in my memory of Budgets over the last half a century which has embraced upfront, enthusiastically and emphatically, technology, modernity and fiscal sobriety, notes Shreekant Sambrani.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
A shift appears underway in India's tax landscape. States with relatively smaller tax collections like Odisha and Telangana are emerging as the fastest-growing contributors to indirect and direct tax collections, respectively.
Deloitte India on Thursday projected India's economy to grow 6.7-6.9 per cent in the current fiscal amid buoyant demand and policy reforms. Indian economy grew 7.8 per cent in the April-June quarter of current fiscal.
India Inc on Sunday hailed the Union Budget 2026-27 as a 'structural shift' in the country's technology landscape, noting that the government is moving beyond fragmented pilots to build foundational layers where AI serves as a 'horizontal enabler' for the entire economy.
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'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
Prime Minister Narendra Modi on Sunday asserted that India is preparing with full strength to host the 2036 Olympic Games.
'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
The Indian economy is likely to grow at 7.4 per cent in 2025-26, up from 6.5 per cent in the previous fiscal, mainly on account of better performance of manufacturing and services sectors, as per the government data released on Wednesday.
'Maybe he was wrong, but they believed he genuinely meant what he said.'
Fitch Ratings on Thursday raised India's GDP growth forecast for the current fiscal to 7.4 per cent, from 6.9 per cent, on increased consumer spending and improved sentiment boosted by GST reforms.
India's gems & jewellery exports witnessed 30.6 per cent year-on-year (Y-o-Y) contraction in October to $2.17 million, amid the imposition of a steep 50 per cent tariff by the United States (US) on several Indian products.
'Only four or five original companies remain; the rest have been replaced every decade as sectors evolve or leadership shifts.' 'Companies that fail to adapt -- like many textile mills from the 1970s and shipping firms from the 1980s -- disappear.' 'Benchmark indices reward those who reinvent themselves in line with economic demands.'
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