In recent years, as the number of government economic reports coming out in the weeks and months before the Survey has increased, its utility has diminished as a source of data and as the ministry's assessment of the state of the economy.
A day before unveiling the Budget, Finance Minister Pranab Mukherjee will table the Economic Survey in Parliament on Thursday which will take stock of the economy and also the impact of stimulus on industry.
The quarterly manufacturing index by the industry body Federation of Indian Chambers of Commerce & Industry (Ficci) rose to an all-time high in the third quarter of financial year 2025-26 (Q3FY26), with 91 per cent of respondents reporting either higher or same production levels, against 87 per cent in the previous quarter.
However, Icra Rating Principal Economist Aditi Nayar feels that the numbers are a bit too optimistic and need real heavy-lifting by the Centre and the states. "The survey forecasts on real and nominal GDP will require a substantial push from Central and state spending as private sector capacity expansion is anticipated to be intermittent, and sector-specific in the next couple of quarters," she said. Nayar added that private consumption is likely to chart a differentiated recovery across income and age groups. Based on the comments made in the Survey, she expects the Union Budget to incorporate a growth in gross tax revenue of 15-16 per cent.
The Indian economy can contract by 7.7 per cent in current financial year ending on March 31 and the growth could be 11 per cent in the next financial year, according to the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. The contraction in FY21 is mainly due to coronavirus (Covid-19) pandemic and the visible damage caused by the subsequent countrywide lockdown to contain it. The survey unveiled two days before the Union Budget is broadly in line with forecasts by the Reserve Bank of India (RBI) which has said it expected the country's GDP to contract by 7.5 per cent in the year ending March 31.
Outlining the roadmap to achieve 7-8 per cent economic growth on sustained basis, the Economic Survey on Wednesday indicated major initiatives in the Union Budget to overhaul tax system, slash deficit, contain prices and boost agriculture.
Making a case for an optimal fiscal stance, the Economic Survey on Friday said growth leads to debt sustainability and not necessarily vice-versa. "This is because debt sustainability depends on the 'Interest Rate Growth Rate Differential' (IRGD) i.e. the difference between the interest rate and the growth rate in an economy. "With the Indian context of potential high growth, the interest rate on debt paid by the Indian government has been less than India's growth rate by norm, not by exception," it said.
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.
The report said in the first year of Raman Singh government in 2004-2005 the food grain production registered a negative growth of 21.67 per cent from 2003-2004.
Principal economic advisor, Ila Patnaik, is coordinating the work on Economic Survey 2013-14.
India's economic revival also depends on the government's capacity to push through some critical policy reforms in the coming months, says the Economic Survey 2008-09, which was\npresented by Finance Minister Pranab Mukherjee in Parliament on Thursday.
S&P in November ruled out an upgrade in the country's rating for some considerable period, citing India's low per capita GDP and relatively high fiscal deficit.
The GDP growth for 2014-15 is pegged at 5.4 to 5.9 per cent: Economic Survey
Highlights of Economic Survey 2020-21, tabled in Parliament by Finance Minister Nirmala Sitharaman on Friday.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
Uptick in growth projected in second half of current fiscal based on 10 factors including higher FDI flows, build up of demand pressure, positive GST revenue growth
Overall, the Survey warned that unless shifts in the vision of development were articulated and embraced, the Indian economy would lose the chance to move to a high-growth trajectory.
Finance Minister Pranab Mukherjee on Thursday tabled the Economic Survey for 2008-09 that prescribes doing away with cess, surcharges on taxes, including fringe benefit tax, and sweeping refroms in areas like petrol pricing and financial sector.
Claiming that the "downturn is more or less over", the pre-Budget Economic Survey today projected an optimistic 6.1 to 6.7 per cent growth in the next fiscal and made a strong call for cutting subsidises.
The Finance Minister Pranab Mukherjee on Monday tabled the Economic Survey for 2008-09 that prescribes doing away with cess, surcharges on taxes, including Fringe Benefit Tax, and sweeping refroms in areas like petrol pricing and financial sector.
India's services sector growth moderated in December, as the rates of expansion in incoming new work and output eased to the slowest in 11 months, and companies refrained from recruiting additional staff, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services PMI Business Activity Index fell from 59.8 in November to 58.0 in December, indicating the slowest rate of expansion since January.
Finance Minister Arun Jaitley on Friday tabled the pre-Budget Economic Survey in the Lok Sabha.
Projecting a 7 per cent growth rate in 2005-06, government's pre-budget Economic Survey on Friday outlined reforms in tax and expenditure and labour laws as a priority in the budget.
India's manufacturing sector activity witnessed the weakest improvement in the sector in two years in December on account of softer expansions in new orders, prompting firms to limit input purchases and job creation, a monthly survey said on Friday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) -- an indicator of sector performance -- fell from 56.6 in November to 55 in December.
Ahead of the Budget 2009-10, the economic survey on Thursday suggested tax cuts and increase in government expenditure as part of another stimulus package to help the economy overcome the global shock.
The Economic Survey released before next year's Budget could become a single volume, reverting to the practice followed till FY14. "There is so much to write about the Indian economy's performance in the past year. "Most of the exciting themes will be covered in what used to be considered Part II," said a senior government official who is part of the preparations for the Survey.
The Economic Survey was tabled in the Parliament on Friday.
Colleen and Hugh Gantzer were the GOATs of travel writers.
'Economic activity appears to have peaked in the second quarter of FY26, with industrial output, exports, and business confidence all softening from October 2025.'
Economic growth projected at 8.1 per cent in 2005-06.\nAgriculture growth at 2.3 per cent.
The robust performance of the Indian economy during the ongoing fiscal is likely to prompt the government to peg GDP growth in the 2011-12 fiscal at 9 per cent, as well as withdraw stimulus measures in the forthcoming Budget.
In a world fractured by uncertainty, India stands out for its policy consistency, paired with sustained ambition, points out Pritam Banerjee.
The Survey adopts an unfettered approach in thinking about the appropriate economic model for India. This endeavour is reflected in the sky blue cover of the Survey, Chief Economic Adviser Krishnamurthy V Subramanian said.
The industry today said the Economic Survey has reaffirmed reforms agenda in areas like agriculture, education and skill development but several other risk factors to the growth of the corporate sector has been "glossed over."
The Karnataka High Court declined to halt the state's socio-economic and educational survey (caste survey) but instructed the government to keep the collected data confidential and ensure participation is voluntary.
Pre-Budget Economic Survey tabled in Parliament.
Recommending an end to all cesses and surcharges on taxes, and free pricing of fertiliser and fuel ahead of the Union Budget for 2009-10, the Economic Survey on Thursday suggested aggressive divestment and financial sector reforms to bring the economy back to high growth track.
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