Union Budget: Nirmala Sitharaman tables Economic Survey 2024-25 in Parliament

Union Finance Minister Nirmala Sitharaman tabled Economic Survey 2024-25 in the Parliament on Friday, the first day of the Budget Session.

"I rise to lay on the table a copy in English and Hindi of the Economic Survey 2024-25 along with the statistical appendix," Sitharaman said.

The Survey projects India's GDP growth between 6.3% and 6.8% in FY26.

Retail inflation softened from 5.4% in FY24 to 4.9% in April–December 2024, though food inflation remained elevated at 8.4% due to rising prices of vegetables and pulses. The Survey expects inflation to gradually align with the Reserve Bank of India’s 4% target by FY26.

It stressed the need for systemic deregulation under “Ease of Doing Business 2.0” to support small and medium enterprises and improve competitiveness.

The first Economic Survey came into existence in 1950–51, when it used to be a part of the budget documents.

In the 1960s, it was separated from the Union Budget and tabled a day before the presentation of the Budget.

The Budget Session commenced Friday with President Droupadi Murmu's address to a joint sitting of both Houses, where she highlighted the government's achievements and outlined its policy priorities.

The session will be held in two phases, from January 31 to April 4. The first phase will conclude on February 13, followed by a recess, with the second phase scheduled from March 10 to April 4. The Union Budget for 2025-26 will be presented on February 1.