Economic growth to slip at 6.4%: FM Sitharaman tables Economic Survey 2024-25 ahead of Budget presentation

Finance minister Nirmala Sitharaman tabled the Economic Survey for 2024-25 in both the Lok Sabha and the Rajya Sabha on Friday, following which, both Houses of Parliament were adjourned for the day.
Going by tradition, the finance minister presented the pre-Budget economic review a day before unveiling the Union Budget for the next financial year, 2025-26.
Economic growth expected to dip at 6.4%, falls short of RBI estimate
India’s economy grew by 5.4 per cent in real terms during the July-September quarter of the current financial year (2024-25), falling short of the Reserve Bank of India’s (RBI) projection of 7 per cent.
Growth in the April-June quarter had also lagged behind the central bank’s estimates.
In its latest monetary policy review, the RBI lowered its growth estimates for 2024-25, from 7.2 per cent to 6.6 per cent. The government expects a slightly lower 6.4 per cent economic growth rate.
Despite this, India has maintained its position as the world’s fastest-growing major economy as the country’s GDP expanded by 8.2 per cent in 2023-24. It recorded growth rates of 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22.
Budget session 2025
The Budget Session of Parliament began on 31 January and is set to be concluded on 4 April. Finance minister Nirmala Sitharaman will be presenting the Union Budget on 1 February at 11 am in the Lok Sabha.
Her Budget speech will provide an outline of the government’s economic policies, revenue and expenditure plans, taxation measures, and other key financial announcements. With this presentation, Sitharaman will have delivered her eighth Union Budget.
What is the Economic Survey?
The Economic Survey is prepared by the economic division of the department of economic affairs under the ministry of finance and is compiled under the supervision of the Chief Economic Adviser. It provides a detailed analysis of the country’s economic health over the past year and offers insights into key economic indicators for 2024-25 (April-March) along with predictions for the next financial year.
The survey often gives a glimpse into the government’s priorities for the next financial year and a possible direction of the Budget, which will be tabled on Saturday.
India’s first Economic Survey was introduced in 1950-51 as part of the Union Budget documents. However, in the 1960s, it was separated from the Budget and has since been tabled a day before the annual Budget presentation.