A curtain raiser for policies to come

The Economic Survey released on Monday projects growth for this financial year (FY25) at 6.5-7 per cent, which appears to be too conservative given the RBI projection of 7.2 per cent.

- MADAN SABNAVIS

While this number may not be significant except for being the official projection made by the ministry, it would probably be used when making projections on GDP growth in the Budget. The Interim Budget had assumed growth of 10.5 per cent for the year, and with the real growth number being pegged at 6.5-7 per cent, the nominal growth number would probably remain unaltered.

What does the Survey indicate? The general discourse is twofold. The first is there is belief that the economy is doing very well and while there is some distance to traverse given the external conditions, the path is clear. The second is there are several soft spots that need to addressed which be can expedite the growth process. The survey is comprehensive and covers all sections of the economy and provides a cogent outlook of the same.