India's Economic Growth: Navigating Global Challenges
India's economy is projected to grow steadily, with necessary policy management to tackle global headwinds. The Economic Survey emphasizes the potential for reaching a developed nation status by 2047, highlighting the need for increased investment and reduced regulation. Global conditions remain uncertain with external risks present.
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India's economic prospects appear promising with projected growth rates of 6.3-6.8% for 2025-26, according to the Economic Survey. However, global challenges demand strategic policy adjustments. The report outlines a pathway for India to transition into a developed nation by 2047, urging for an increased investment rate and a boost in manufacturing and technology sectors.
The GDP for the financial year ending March 2025 is estimated at a four-year low of 6.4%, indicating the need for enhanced macroeconomic strategies. With a focus on internal growth mechanisms, the survey calls for systemic deregulation and a shift in regulatory approaches to support economic freedom and innovation.
Amid global uncertainties, including Middle East tensions and the Russia-Ukraine conflict, India's growth trajectory remains resilient. The survey emphasizes relaxing regulatory frameworks to empower businesses, suggesting a transformation from rigid control to a more risk-based, flexible regulatory environment.
(With inputs from agencies.)
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