Economic Survey: We must raise the game for a new playing field

India has a shot at shaping the new world order that's emerging while thriving in the uncertain interregnum and beyond

- V. ANANTHA NAGESWARAN

This is my third offering of the Economic Survey, a comprehensive compilation of information and perspectives on the state of the Indian economy. It delves into issues that warrant focused and continued attention, providing insight and analysis crucial to understanding India's economic landscape. The Survey of 2024-25 comes within a short span of six months from the last one, which was presented in July 2024. But the pace of change has been dizzying, whether in politics, economics, markets or technology. With so many deep shifts taking place in the political and policy landscapes, the Economic Survey has much to offer keen readers and followers of these economic and political developments.

The great global election year of 2024 is behind us, although a few more are due this year. The policy changes that they entail are—and will be—unfolding. What will be the course of key interest rates that will guide real activity and inflation expectations? How will the energy transition progress? What will be the drivers of global growth? How will artificial intelligence change job markets? How will they affect global trade and investment flows? How should India respond to these uncertainties and accelerate economic growth while ensuring equity and inclusion?

These were the critical questions on our minds while putting together this Survey.

Some questions have a shorter shelf-life, and others will be with us for some time. Our proposed answers will influence, illuminate and delineate our approaches to the more enduring challenges.