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The Economic Survey 2024-25 – I provides an in-depth assessment of India’s economic trajectory, emphasizing growth trends, fiscal management, and key policy measures. As a crucial document for UPSC aspirants, this survey helps in understanding the Prelims Economy section, Mains GS Paper III (Indian Economy), and Essay topics. This eBook summarizes the major highlights and implications of the survey.
GDP Growth and Economic Resilience
India’s GDP growth projected at 6.8% for 2024-25, driven by robust domestic consumption and investments.
High-frequency indicators suggest strong industrial output and services sector expansion.
External risks from global trade disruptions and inflationary pressures.
Fiscal Deficit and Revenue Mobilization
Fiscal deficit estimated at 5.3% of GDP, adhering to the fiscal consolidation roadmap.
Increased revenue collection from GST and direct taxes, indicating formalization of the economy.
Enhanced focus on disinvestment and monetization of public sector assets to improve fiscal health.
Agriculture and Rural Economy
Expansion of PM-KISAN scheme and agri-tech adoption for higher productivity.
Sustainable agriculture initiatives for climate resilience and water conservation.
Rural employment growth supported by MGNREGA and skilling programs.
Industrial and Manufacturing Sector
PLI schemes driving growth in electronics, semiconductors, and textiles.
Expansion of Make in India to strengthen domestic supply chains.
Infrastructure development through Gati Shakti and logistics reforms.
Services and Digital Economy
IT and fintech sector growth, fostering digital transactions and innovation.
Strengthening Digital Public Infrastructure (DPI) for seamless governance.
Policies promoting AI, blockchain, and cloud computing adoption.
Employment Generation and Skilling
Skill India 2.0 initiative to enhance employability in emerging sectors.
Growth in gig economy and self-employment opportunities.
Strengthening apprenticeship and vocational training programs.
Health and Education Reforms
NEP 2020 implementation with digital learning and curriculum revamp.
PM-Ayushman Bharat expansion, ensuring affordable healthcare access.
Investment in medical infrastructure and AI-driven healthcare solutions.
Green Growth and Renewable Energy
Expansion of solar, wind, and hydrogen energy projects.
Policies promoting EV adoption and charging infrastructure.
Increased funding for climate-resilient urban development.
Circular Economy and Waste Management
Initiatives for plastic waste reduction and sustainable packaging.
Strengthening e-waste recycling and circular economy practices.
Government incentives for green startups and clean energy innovations.
Global Economic Risks and Geopolitical Challenges
Impact of geopolitical uncertainties on trade and investments.
Need for supply chain diversification to reduce dependence on imports.
Strengthening India’s role in global economic and financial institutions.
Domestic Structural Reforms and Growth Strategies
Taxation reforms to broaden the tax base and simplify compliance.
Strengthening urban infrastructure and housing for sustainable growth.
Policy initiatives for inclusive economic development across all sectors.
Prelims Focus Areas
Key economic indicators: GDP growth, fiscal deficit, inflation trends.
Major policy measures: PLI, DPI, NEP, PM-KISAN, Skill India 2.0.
Mains and Essay Topics
GS Paper III: Economic development, agriculture, industrial growth.
GS Paper II: Governance, social sector reforms, climate policies.
Essay Topics: “Balancing Growth and Sustainability in India’s Economy”
The Economic Survey 2024-25 – I highlights India’s economic resilience, policy-driven growth, and structural reforms. For UPSC aspirants, understanding this document strengthens their grasp of economic trends, policy implications, and governance frameworks, aiding in both objective and analytical answers in the examination.
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