The first major number from the Economic Survey, 2025 points to a GDP growth rate to range between 6.3 per cent and 6.8 per cent for FY26. According to economist and former Reserve Bank of India governor Dr C Rangarajan, “As of now, the potential rate of growth seems to be 6.5 per cent. This is reasonable in the light of the global uncertainties that exist today.”
He nonetheless feels, “perhaps with some additional efforts, we could get to 7 per cent albeit this may not be easy in the coming year.” This, along with an inflation rate of 4 per cent to 5 per cent will mean a nominal rate of growth of 11.5 per cent. “At this pace, it could get the country to the level of developed country a little later than 2047.
The key point however is the continuous and consistent high growth each year.” But considering that with each passing year, the GDP base of the country will also keep expanding and therefore to achieve a 6.5 per cent growth on top of it with each passing year will be difficult. “Therefore, to get to realise the goal of Viksit Bharat or developed nation, it will be crucial that in the initial years, India achieves a growth rate of at least 7 per cent” and in the later years it could taper down leading to an average GDP growth of 6.5 per cent, he says.
The Economic Survey 2024-25, was tabled today by Finance Minister Nirmala Sitharaman, provides a comprehensive analysis of India’s economic performance over the last year and offers projections for the upcoming fiscal period. Despite global uncertainties, the survey highlights that India’s real GDP growth is estimated at 6.4% for 2024-25, aligning closely with the nation’s decadal average.