India's economy is likely to continue its sluggish pace of growth next fiscal year weighed down by global risks, according to a finance ministry report that has called on states to pursue business reforms to boost economic activity.

Economic Survey predicts India's growth at 6.3-6.8% by 2025-26, emphasizing de-regulation, private sector participation, and energy transition.

India needs to grow around 8 per cent for a decade or two to achieve its Viksit Bharat dreams, the Economic Survey has asserted, at a time when the country’s growth showed weak progress in the first two quarters of the current financial year.

Finance Minister Nirmala Sitharaman tabled the Economic Survey 2024-25 in the Lok Sabha.  The Economic Survey is an annual document presented by the government ahead of the Union Budget to review the state of the economy.

India’s government predicted the economy will expand 6.3%-6.8% in the coming fiscal year, a more moderate pace than the recent past and below the levels needed for Prime Minister Narendra Modi to meet his ambitious goals.

GDP growth rate of India is expected to be between 6.3% and 6.8% for the financial year 2025-26. The Economic Survey predicts a decline in food inflation in the last quarter of FY25, aided by seasonal vegetable price drops and the arrival of the kharif harvest.

LIVE: The Economic Survey is a pre-budget document detailing the state of the economy over the last fiscal year.