The Economic Survey Report presented by the Modi government in Parliament has stated that the country's growth will be on the decline in the financial year 2025-26.
New Delhi: There is a huge difference between words and deeds. On the one hand, at the beginning of the budget session of Parliament on Friday, she chanted the mantra of Maa Lakshmi and prayed that 'May the Goddess have special grace on the poor and the middle class' and said, 'We are moving towards all-round development. We are moving based on economic momentum.' Right after that, the pre-budget economic survey report presented by her Finance Minister Nirmala Sitharaman revealed the dire state of the country's economy. Where the Modi government has failed to hide that there is no indication of the country's economic woes in the next financial year as well. The important thing that has emerged in this economic survey report is that there are indications that the country's economic growth rate will slow down in the financial year 2025-26. The growth rate will be less than seven percent.
New Delhi: There is a huge difference between words and deeds. On the one hand, at the beginning of the budget session of Parliament on Friday, she chanted the mantra of Maa Lakshmi and prayed that 'May the Goddess have special grace on the poor and the middle class' and said, 'We are moving towards all-round development. We are moving based on economic momentum.' Right after that, the pre-budget economic survey report presented by her Finance Minister Nirmala Sitharaman revealed the dire state of the country's economy. Where the Modi government has failed to hide that there is no indication of the country's economic woes in the next financial year as well. The important thing that has emerged in this economic survey report is that there are indications that the country's economic growth rate will slow down in the financial year 2025-26. The growth rate will be less than seven percent.
Incidentally, the Modi government has failed to revive the country's economy since it first came to power in 2014. Rather, it has worsened by introducing demonetization and GST without preparation. The first Finance Minister of the Modi government for 10 and a half years, Arun Jaitley, second Finance Minister Piyush Goyal and third and current Finance Minister Nirmala Sitharaman, have always blamed the international situation and the Covid-19 pandemic. Modi knows that the assurance is false. Today, Modi has left the immediate future and shown a dream of 25 years from now, "The benefits of a developed India will also be available after 25 years." In this situation, the people of India do not see much hope in Nirmala's budget today. The government may go the way of tax cuts to give relief to the middle class. Moreover, experts believe that emphasis may be placed on infrastructure as usual.
The Economic Survey Report presented by the Modi government in Parliament has stated that the country's growth will be on the decline in the financial year 2025-26. It will be 6.3 percent to 6.8 percent. It mentioned, “The fundamentals of the country’s economy are quite strong. Foreign exchange reserves are also full. Revenue consolidation and collection have been good and stable private spending has been observed. In this situation, maintaining a balance, the GDP growth rate is estimated to be 6.3 to 6.8 percent in the fiscal year 2026.” Continuing the traditional trend of the Modi government, it also said that the manufacturing sector has been somewhat hit due to weak demand in the global market and weather-related tensions. Moreover, due to stable domestic demand, private spending has not increased much. Fiscal discipline and foreign investment are also balanced, which is conducive to a healthy increase in services trade surplus and remittances. The economic survey mentions that there has been a slowdown in investment. However, the survey describes this as temporary.
Incidentally, India’s economic growth rate has fallen to 6.4 percent in 2024-25, which is the slowest growth rate in the last four years. The weak manufacturing sector and slow private investment have created a sharp decline compared to the growth in the fiscal year 2024. India's GDP grew by 8.2 percent in the financial year 2023-24, indicating it is the fastest growing major economy. The country had set a precedent of economic growth of 7.2 percent in 2022-23 and 8.7 percent in 2021-22.
The Economic Survey Report presented by the Modi government in Parliament has stated that the country's growth will be on the decline in the financial year 2025-26. It will be 6.3 percent to 6.8 percent. It mentioned, “The fundamentals of the country’s economy are quite strong. Foreign exchange reserves are also full. Revenue consolidation and collection have been good and stable private spending has been observed. In this situation, maintaining a balance, the GDP growth rate is estimated to be 6.3 to 6.8 percent in the fiscal year 2026.” Continuing the traditional trend of the Modi government, it also said that the manufacturing sector has been somewhat hit due to weak demand in the global market and weather-related tensions. Moreover, due to stable domestic demand, private spending has not increased much. Fiscal discipline and foreign investment are also balanced, which is conducive to a healthy increase in services trade surplus and remittances. The economic survey mentions that there has been a slowdown in investment. However, the survey describes this as temporary.
Incidentally, India’s economic growth rate has fallen to 6.4 percent in 2024-25, which is the slowest growth rate in the last four years. The weak manufacturing sector and slow private investment have created a sharp decline compared to the growth in the fiscal year 2024. India's GDP grew by 8.2 percent in the financial year 2023-24, indicating it is the fastest growing major economy. The country had set a precedent of economic growth of 7.2 percent in 2022-23 and 8.7 percent in 2021-22.
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