31/01/2025
📃 *Economic Survey 2025* 📃
Finance Minister Nirmala Sitharaman has tabled the Economic Survey in Parliament today. Here are the key highlights:
1️⃣ *Stable Economic Growth*
- India's real GDP expected to grow at 6.4% in FY25, in line with the decadal average.
- Real Gross Value Added (GVA) also projected at 6.4%, signaling overall stability.
2️⃣ *Broad-Based Sectoral Growth*
- Agriculture remains strong, performing above trend levels.
- Industrial sector has recovered beyond pre-pandemic levels.
- Services sector is catching up, nearing trend levels.
3️⃣ *Inflation Under Control*
- Retail inflation softened from 5.4% in FY24 to 4.9% (Apr-Dec FY25).
- RBI & IMF expect it to align with 4% target by FY26.
4️⃣ *Banking & Insurance Stability*
- GNPA ratio dropped to 2.6% (Sep 2024), lowest since FY18.
- Credit-GDP gap narrowed to 0.3%, indicating sustainable credit growth.
- Insurance premiums up 7.7%, reaching ₹11.2 lakh crore.
Pension subscribers grew 16% YoY (Sep 2024).
5️⃣ *Exports on the Rise*
- Total exports (merchandise + services) at $602.6B in 9M FY25 (+6%).
- Non-petroleum, non-gems & jewelry exports grew 10.4%.
- Imports at $682.2B (+6.9%), reflecting strong domestic demand.
6️⃣ *MSME Credit Growth*
- MSME credit up 13% YoY (Nov 2024) vs 6.1% for large enterprises.
- Agriculture credit up 5.1%; Industrial credit up 4.4% (higher than 3.2% YoY).
- RBI’s policy changes slowed down credit growth to NBFCs, credit cards, and personal loans.
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