India's Economic Survey: Innovation and AI at the Forefront

The Economic Survey highlights crucial areas such as artificial intelligence, innovation, and infrastructure. Experts note the need for deregulation and reforms for achieving the projected growth rate of 6.3-6.8%. The survey sets a roadmap for India's role in global supply chains and emphasizes job creation and innovation.

The Economic Survey presented in Parliament places a significant emphasis on artificial intelligence, innovation, and infrastructure spending, drawing insights from experts. With a keen focus on involving the private sector, the landmark pre-budget document was tabled by Finance Minister Nirmala Sitharaman.

According to the 436-page survey, India's economy is projected to grow by 6.3–6.8% in the upcoming fiscal year, which falls below the threshold needed for India to attain developed nation status. Experts highlight the need for significant deregulation and reforms in areas such as land and labor to spur growth.

Notably, the survey outlines India's strategic role in the global supply chain for energy transition technologies while proposing a roadmap for continued fiscal consolidation. A focus on job creation and innovation, alongside manufacturing and infrastructure development, is seen as pivotal to realizing the government's Viksit Bharat target.

(With inputs from agencies.)