Economic Survey 2026: Key Data Reveals Health Of Indian Economy Ahead Of Budget 2026

The Economic Survey provides a comprehensive assessment of the state of India's economy. It underlines the major macro-economic trends, prospects of growth and performance of the economy in different sectors. The Survey will be tabled before the Union Budget 2026 is tabled on February 1, and could influence policy decisions and shape market expectations from the Budget.

Watch out for these key indicators ahead of the Budget to gauge any policy changes and the the outlook of the economy:

Real GDP growth projection

Inflation and prices

Sectoral performance such as banking, agriculture, and others

Export and service growth and outlook

Here is a look at the current state of the economy before the Economic Survey is presented. According to first advance estimates on outlook of the economy,

Real GDP is estimated to grow at 7.4 per cent in FY26 compared to 6.5 per cent growth in FY25

Nominal GDP has been forecasted at 8 per cent growth in FY26

Growth in Services Sector is seen buoyant and a key driver

Financial, Real Estate & Professional Services, Public Administration, Defence & Other Services in tertiary sector is expected to growth at 9.9 per cent in FY26

Prime Minister Narendra Modi on Thursday addressed the media ahead of the Budget Session day 2 of Parliament.

Before the Budget Session, Prime Minister Narendra Modi said the India-EU Free Trade Agreement signals a bright future for the country’s youth and manufacturers.

PM Narendra Modi said, “It is natural for the attention of the country to be towards the Budget. But the identity of this Government has been reform, perform and transform. Now, we have swiftly taken off on Reform Express'. He expressed gratitude to all MPs for their positive contributions in accelerating the 'Reform Express', which is now gaining momentum. (ANI)

Finance Minister Nirmala Sitharaman will present her ninth consecutive budget, with Morarji Desai holding the record of ten budget presentations.

The Economic Survey 2026 can be watched live on Sansad TV or the official website, indiabudget.gov.in, where the full PDF will also be available once released.

Finance Minister Nirmala Sitharaman will present the Economic Survey for FY26 shortly in Parliament.

Finance Minister Nirmala Sitharaman has presented the Economic Survey for FY26 in the Lok Sabha, detailing the government’s overview of India’s economic performance.

The Economic Survey tabled in Parliament projects India’s real GDP growth for FY27 in the range of 6.8 per cent to 7.2 per cent ahead of Budget 2026.

The Economic Survey 2025–26 said policy reforms in recent years have boosted the economy’s medium-term growth potential to around 7 per cent, with risks broadly balanced. (PTI)

The Economic Survey 2025–26 said talks on a trade agreement with the US are expected to conclude this year, helping ease external uncertainty. It noted that slower global growth, trade disruptions and volatile capital flows could impact exports and investor sentiment. (PTI)

The Economic Survey said GST reforms turned global risks into opportunities, with FY27 as a year of adjustment, and stressed stronger institutions for India’s geopolitical rise.

According to the Economic Survey 2026, India’s services exports in FY25 reached a record USD 387.5 billion, up 13.6 per cent year-on-year, while imports grew 11.4 per cent to USD 198.7 billion.

According to the Economic Survey 2026, RBI and IMF project a gradual rise in headline inflation in FY27, keeping it within the target range of 4 per cent (±2 per cent). The RBI revised FY26 inflation to 2.0 per cent, while the IMF expects 2.8 per cent in FY26 and 4.0 per cent in FY27. RBI’s forecast for FY27 Q1 and Q2 stands at 3.9 and 4.0 per cent.

According to the Economic Survey 2026, the Indian rupee underperformed in 2025 due to a goods trade deficit. The Survey noted: “In other words, the rupee is punching below its weight. Of course, it does not hurt to have an undervalued rupee in these times, as it offsets the impact of higher American tariffs and crude imports.”

The Economic Survey 2026 flags a 10–20 per cent chance of a systemic shock, with highly leveraged AI investments potentially tightening liquidity and affecting markets. According to their assessment, the impact could be worse than the 2008 financial crisis.

The Survey noted that India’s foodgrain production reached a record 3,577.3 lakh metric tonnes in Agriculture Year 2024‑25, an increase of 254.3 LMT over the previous year, reflecting strong performance in both kharif and rabi crops.

Chief Economic Advisor V. Anantha Nageswaran held a media briefing to highlight key findings and updates from the Economic Survey 2026.

Chief Economic Adviser V. Anantha Nageswaran, in a media briefing, highlighted that India’s real GDP growth has remained strong, with FY25 at 6.5 per cent and FY27 projected at 7.4 per cent. Private consumption continues to drive growth, while inflation has stayed moderate, averaging around 1.7 per cent in the first nine months of the year.

Chief Economic Adviser V. Anantha Nageswaran said, "India is an oasis of macrostability in an otherwise turbulent world."

Chief Economic Adviser V. Anantha Nageswaran said core inflation, excluding gold and silver, remains moderate, with benign trends expected to continue next year.

The Economic Survey noted that around 40 per cent of gig workers earn less than Rs 15,000 per month. It highlighted that limited access to skill development and concerns over job losses due to technologies like Artificial Intelligence (AI) and Machine Learning (ML) increase the vulnerability of these workers.

Chief Economic Adviser V. Anantha Nageswaran said rising obesity poses a challenge to India’s demographic dividend and emphasized the need for clear food labelling to help people make healthier choices.

Chief Economic Adviser V. Anantha Nageswaran said that 81 per cent of rural households now have access to tap water, around 2.9 crore houses have been constructed, and 2.76 crore property cards have been issued under the SVAMITVA scheme. (PTI)

 CEA V. Anantha Nageshwaran in a post Economic Survey press conference said ‘Swadeshi’ has evolved as a legitimate policy tool as as the nature of global systems have changed and trade is no longer reciprocal. He also said that markets are no longer neutral and supply chains have turned into instruments of state power.

Nageswaran gave examples such as tariffs and export restrictions used by China and US. In such a scenario, he highlighted that 'Swadeshi' should be seen seen as a legitimate policy instrument instead of just an ideological choice.

Chief Economic Adviser V. Anantha Nageswaran said the recent weakness in the rupee is largely driven by global factors and does not reflect underlying stress in India’s domestic economy.

Chief Economic Adviser V. Anantha Nageswaran, at the Economic Survey press briefing, highlighted skilling gaps and structural challenges emerging as artificial intelligence adoption gathers pace.

The Economic Survey said India’s internet connections rose from 25.15 crore in 2014 to 96.96 crore in 2024, aided by 5G rollout and BharatNet expansion. It added that 85.5 per cent of households now own a smartphone, driving widespread use of OTT platforms, social media and digital payments.