Economic Survey 2026, GDP Growth Projected at 7.4%
Finance Minister Nirmala Sitharaman today tabled the Economic Survey 2025-26 in both Houses of Parliament, setting the stage for the Union Budget on February 1. The survey presents a robust outlook for the Indian economy, projecting a real GDP growth rate of 7.4% for the upcoming fiscal year. This optimistic forecast comes despite a “grim” global economic landscape, where the survey warns of a 10-20% chance of a worldwide financial crisis larger than that of 2008.
The document highlights India’s resilience, noting that the country remains the world’s fastest-growing major economy. Key growth drivers identified include a surge in the space sector, which has earned millions in foreign exchange through satellite launches, and the rapid expansion of digital infrastructure. Prime Minister Narendra Modi, addressing the media, stated that the nation has moved from “long-pending problems” to “long-term solutions,” boarding what he called the “Reform Express” to achieve a Viksit Bharat (Developed India) by 2047.
In a significant judicial move, the Supreme Court of India today stayed the implementation of the UGC Equity Regulations 2026. The court termed the new rules “too sweeping,” as they allegedly extended reservation protections only to SC, ST, and OBC groups while excluding general category students from similar institutional protections. This ruling pauses a major policy shift in higher education just as the academic year preparations begin.
On the diplomatic front, the government informed the Rajya Sabha that India is “consistently raising” the issue of attacks on minorities in Bangladesh with authorities in Dhaka. New Delhi expressed its expectation that the interim government in Bangladesh will thoroughly investigate these incidents. Meanwhile, the nation mourned the passing of Maharashtra Deputy CM Ajit Pawar, who was cremated with full state honors today in Baramati following a tragic plane crash yesterday.
As the Budget Session continues, all eyes are now on February 1, when Sitharaman will make history by presenting her ninth consecutive Union Budget. This Sunday presentation is expected to focus on export-import substitution and middle-class tax rationalization to counter the impact of global trade tensions and the rupee’s recent all-time low of 92 per dollar.
