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India’s Economic Survey 2025-26 projects resilient growth amid global uncertainty, with GDP seen at 7.4% in FY26. From record forex reserves and low NPAs to manufacturing revival and poverty reduction, the Survey maps India’s road to Viksit Bharat 2047.
The Economic Survey 2025-26, tabled in Parliament by Union Finance Minister Nirmala Sitharaman
New Delhi: The Economic Survey 2025-26, tabled in Parliament by Union Finance Minister Nirmala Sitharaman paints a picture of a resilient Indian economy navigating global uncertainty while strengthening its domestic fundamentals. The Survey projects steady growth, improving fiscal health, robust manufacturing recovery, and notable social sector gains.
India’s real GDP growth for FY26 is projected at 7.4 per cent, with Gross Value Added (GVA) growth estimated at 7.3 per cent, according to the First Advance Estimates. Looking ahead, real GDP growth for FY27 is expected to moderate slightly to a range of 6.8–7.2 per cent, while India’s long-term potential growth is pegged at around 7 per cent.
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The Survey highlights improving fiscal indicators, with the Centre’s revenue receipts rising to 9.2 per cent of GDP in FY25 (PA). The banking sector continues to strengthen, as Gross Non-Performing Assets (GNPAs) fell to a multi-decadal low of 2.2 per cent in September 2025.
India’s share in global merchandise exports has nearly doubled from 1 per cent in 2005 to 1.8 per cent in 2024. Services exports touched an all-time high of USD 387.6 billion in FY25, registering 13.6 per cent growth.
India retained its position as the world’s largest recipient of remittances, with inflows reaching USD 135.4 billion in FY25. Foreign exchange reserves rose to USD 701.4 billion as of January 16, 2026, providing cover for 11 months of imports and 94 per cent of external debt.
Domestic inflation remained benign, averaging 1.7 per cent during April–December 2025. Agriculture showed strong performance, with foodgrain production estimated at 3577.3 lakh metric tonnes in AY 2024–25, marking an increase of 254.3 LMT over the previous year.
Over ₹4.09 lakh crore has been released to eligible farmers under the PM-KISAN scheme since its launch.
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Manufacturing GVA grew by 7.72 per cent in Q1 and 9.13 per cent in Q2 of FY26, reflecting a structural recovery. Production Linked Incentive (PLI) schemes across 14 sectors have attracted investments exceeding ₹2 lakh crore, generating incremental production worth ₹18.7 lakh crore and creating over 12.6 lakh jobs as of September 2025.
India’s infrastructure expansion continues at scale. High-speed corridors have increased nearly ten-fold from 550 km in FY14 to 5,364 km in FY26, while 3,500 km of railway lines were added in FY26.
India is now the world’s third-largest domestic aviation market, with the number of airports rising from 74 in 2014 to 164 in 2025.
India ranks third globally in renewable energy capacity and installed solar capacity. The India Semiconductor Mission has advanced domestic capabilities, with 10 projects involving ₹1.60 lakh crore investment.
Economic Survey 2025–26: Indian Economy expected to grow 6.8%-7.2% in FY27
In a major technological milestone, India became the fourth country globally to achieve autonomous satellite docking capability through the SPADEX mission.
The Gross Enrolment Ratio stands at 90.9 per cent at primary, 90.3 per cent at upper primary, and 78.7 per cent at secondary levels. India now has 23 IITs, 21 IIMs and 20 AIIMS, including international IIT campuses in Zanzibar and Abu Dhabi.
India has also accelerated reductions in maternal and child mortality since 1990, outperforming global averages.
As of January 2026, the e-SHRAM portal has registered over 31 crore unorganised workers, with 54 per cent women. Job vacancies mobilised through the National Career Service portal crossed 2.8 crore in FY25 and have already exceeded 2.3 crore by September FY26.
