The Economic Survey 2024-25, tabled by Finance Minister Nirmala Sitharaman on Friday in the Lok Sabha, listed challenges that drove inflation rates in the current fiscal year. From global conflicts to low production, India was able to navigate all these challenges as its retail inflation moderated from 5.4 per cent in FY24 to 4.9 per cent in FY25 (April-December).
The survey highlights that inflation in India will witness positive signs in inflation management. The Reserve Bank of India and the IMF have projected that India’s consumer price inflation will align with the target of 4 per cent in the next financial year.
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The economic survey, documented by a team under Chief Economic Adviser V Anantha Nageswaran, was tabled just a day ahead of the Union Budget. It provides an overall assessment of India’s economic performance in the current fiscal year.
Here are some of the hiccups that disrupted markets around the world as well as domestically, affecting prices and inflation rates:
While several factors have driven inflation rates in the current financial year, India’s output for FY25-26 looks positive, according to the Economic Survey.
“The RBI and the IMF have projected that India’s consumer price inflation will progressively align towards the inflation target in FY26. In December 2024 RBI’s Monetary Policy Committee report revised its inflation projection from 4.5 per cent to 4.8 per cent in FY25. Assuming a normal monsoon and no further external or policy shocks, the RBI expects headline inflation to be 4.2 per cent in FY26,” it said.
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