India’s Economic Survey 2025–26: Key Highlights
Published by the Government of India, the Economic Survey 2025–26 presents a comprehensive review of the country’s economic performance, long-term trends, and forward outlook. Spanning 233 pages, the document provides historical and projected data across national income, agriculture, industry, public finance, prices, balance of payments, trade, external debt, and human development indicators. Several datasets are backdated to the 1950s and include Advance Estimates (AE), Revised Estimates (RE), and Provisional Estimates (PE) up to FY26.
1. Macroeconomic State: “Pushing the Growth Frontier”
GDP Growth: India reaffirmed its position as the world’s fastest-growing major economy for the fourth consecutive year, recording 7.4% real GDP growth in FY26.
Fiscal Consolidation: The Union government contained the fiscal deficit at 4.8% of GDP, outperforming the budgeted target of 4.9%, and announced a sharper consolidation path with a 4.4% target for FY27.
Credit Rating Upgrades: Reflecting strong macroeconomic fundamentals, India received credit rating upgrades from three global agencies in 2025, including S&P’s first upgrade for India in nearly 20 years.
Domestic Demand Strength: Economic growth continues to be driven by domestic demand, with Gross Fixed Capital Formation (GFCF) expanding by 7.8%, underscoring sustained investment momentum.
2. Agriculture and Food Management: “Productivity and Income”
Rabi Sowing: Total cropped area under the Rabi season increased by 3.3% year-on-year (as of January 2026), supported by improved reservoir levels.
Record Foodgrain Output: Cereal production touched a record 3,320 lakh tonnes in 2024–25, highlighting resilience in agricultural output.
Structural Shift: The Survey calls for a transition from volume-led growth to efficiency-driven agriculture, emphasising balanced nutrition and rationalised fertilizer support.
Oilseeds Growth: Production of major oilseeds rose to 430 lakh tonnes, driven primarily by higher output of soybean and rapeseed-mustard.
