New Delhi: Referring to the Economic Survey 2024-25, presented in Parliament today, Mr. Chandrajit Banerjee, Director General, CII stated that the Survey makes a comprehensive, in-depth and far-reaching analysis of current economic developments which would be critical for well informed, evidence-based and futuristic policymaking for a new India. The Survey rightly acknowledges the role of the private sector in nation building and is forthright in its call for lowering the cost of business through deregulation and ‘getting out of the way of business’ to accelerate growth and create jobs amidst a challenging global environment.
Going forward, CII shares the outlook articulated by the Survey on India’s growth prospects by projecting a GDP growth rate in the range of 6.3-6.8 per cent for 2025-26 versus 6.4 per cent in the current year on account of fragile external milieu and current state of domestic demand. The Survey mentions that inflation is on a credible downtrend and current account deficit is within the comfort level, which are very positive takeaways.
The Survey displays a futuristic vision by exhorting the nation to focus on key priority areas namely attracting foreign investment for emerging as a competitive and innovative economy; strengthening domestic supply side capability and resilience, taking a calibrated approach towards climate change and energy transition, focus on education and skilling of the youth to match global technology advancements , raising productivity of the primary sector and above all improving governance while creating trust by launching ease of doing business 2.0. This would fast track India’s dream of realising the long-term vision for Viksit Bharat, stated Mr Banerjee.
The Survey also aptly delves into the subject of AI which is an opportunity as well as a challenge. India needs to harness the power of AI while ensuring that policies are in place to support workers by upskilling, updating educational curriculum and creating new job opportunities in the area of AI applications, said Mr Banerjee.