𝐒 𝐉 𝐄𝐗𝐈𝐌 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬

 “Indirect Tax I Indirect Tax Litigation I Customs & FTP I Central Licensing I Arbitration I Advisory”

Dated: 01.02.2025

Economic Survey 2024-25: The Key Take Aways

1. Strong & Resilient Economic Growth

• India’s economy continues to grow at 6-8%, despite global uncertainties.
• Macroeconomic stability with controlled inflation, fiscal discipline, and steady private consumption.
• Structural reforms and deregulation are emphasized as key drivers for long-term growth.

2. Fiscal & Monetary Stability

• Fiscal deficit under control with a strong emphasis on public investment and capex-led growth.
• RBI’s monetary policy remains balanced, ensuring inflation control while supporting growth.
• Banking sector is well-capitalized, with declining NPAs and increasing credit growth.

3. Infrastructure & Investment Expansion

• ₹10 Lakh Crore capital expenditure plan for transportation, urban development, and logistics.
• Expansion of rail, road, and port networks to boost trade and supply chains.
• Smart Cities & Urban Transformation to accommodate rising urban populations.
• Strengthening digital infrastructure, including 5G, AI, and semiconductor manufacturing.

4. Industrial Growth & Self-Reliance (Atmanirbhar Bharat)

• Expansion of PLI schemes in electronics, EVs, semiconductors, and renewable energy.
• Reducing import dependency in key sectors like defense, high-tech manufacturing, and critical minerals.
• Promoting domestic supply chains and reducing reliance on China.

5. Employment & Skilling for the Future

• AI & Digital Economy Workforce Readiness, with national skilling programs.
• Formalization of employment through labor law reforms and social security expansion.
• MSMEs & Startup Ecosystem Growth to drive job creation.
• Increasing women’s workforce participation through legal and workplace reforms.

6. Agricultural Modernization & Rural Economy

• Crop diversification & sustainable farming to reduce over-reliance on water-intensive crops.
• Irrigation & mechanization expansion to boost productivity.
• Strengthening rural infrastructure for better connectivity and market access.
• Food security focus, with buffer stock management and price stabilization efforts.

7. External Trade & Global Competitiveness

• Strengthening India’s role in global trade, with diversification of export markets.
• Navigating global trade challenges, such as the EU’s Carbon Border Adjustment Mechanism (CBAM).
• Boosting foreign direct investment (FDI) through investor-friendly policies.
• Strengthening global supply chains, positioning India as an alternative to China.

8. Climate & Energy Transition

• Targeting 50% renewable energy by 2030, increasing solar and wind power capacity.
• Expanding green hydrogen production to make India a global clean energy leader.
• Net-Zero Emissions by 2070, while balancing affordability and sustainability.
• Investment in climate-resilient infrastructure to mitigate risks from extreme weather events.

9. Digital Economy & AI Revolution

• ₹1 Lakh Crore R&D Fund for AI, fintech, semiconductors, and deep tech.
• Expanding Digital Public Infrastructure (DPI) with UPI, ONDC, and blockchain-based governance.
• Artificial Intelligence Centers of Excellence to drive innovation.
• Cybersecurity & data protection measures to strengthen digital trust.

10. Long-Term Vision: Viksit Bharat 2047

• $10 Trillion Economy by 2047, positioning India as a high-income, developed nation.
• Leadership in global manufacturing, technology, and sustainability.
• Achieving Sustainable Development Goals (SDGs) while maintaining growth momentum.
• Geopolitical & economic leadership in G20, BRICS, and global trade networks.

India’s Mid & Long-Term Goals (Economic Survey 2024-25)

Mid-Term Goals (2025-2030)

1. Deregulation & Ease of Doing Business – Reduce bureaucratic barriers to attract investment and foster entrepreneurship.
2. Infrastructure Expansion – Invest in transport (railways, highways, ports, airports) and digital connectivity to improve logistics efficiency.
3. Industrial Growth & Self-Reliance – Expand domestic manufacturing through Production-Linked Incentives (PLI) and reduce import dependency.
4. Financial Stability & Banking Reforms – Strengthen banking systems, reduce NPAs, and improve credit availability for businesses and MSMEs.
5. FDI & Trade Expansion – Increase Foreign Direct Investment (FDI) inflows and strengthen global trade partnerships.
6. Climate & Energy Transition – Increase reliance on renewable energy while ensuring affordability and security of supply.
7. Employment Generation & Skilling – Expand vocational training, upskilling, and AI-readiness programs to create jobs.
8. Education & Research – Implement National Education Policy (NEP), increase investment in R&D, and promote technology-driven learning.
9. Urban Development & Smart Cities – Enhance smart city infrastructure, including better waste management, public transport, and housing.
10. Agricultural Modernization – Increase mechanization, irrigation, and crop diversification to boost productivity and food security.

Long-Term Goals (2030-2047)

11. Achieve a $10 Trillion Economy – Position India as a global economic powerhouse by 2047 (100th year of independence).
12. Viksit Bharat 2047 Vision – Transition India into a developed economy with strong industrial, digital, and human capital.
13. Global Manufacturing Hub – Compete with China and advanced economies in critical sectors like semiconductors, EVs, and AI.
14. Energy Independence – Develop indigenous capacity in solar, wind, hydrogen, and nuclear energy while reducing reliance on fossil fuels.
15. Artificial Intelligence & Digital Transformation – Establish India as a leader in AI, robotics, and blockchain through innovation hubs and digital skilling.
16. Sustainable Urbanization – Expand urban infrastructure with climate-resilient cities, efficient public transport, and smart governance.
17. Health & Social Security – Ensure universal healthcare coverage and improved public health infrastructure.
18. Women’s Workforce Participation – Achieve gender parity in labor markets through policy reforms and workplace support.
19. Geopolitical & Economic Leadership – Strengthen India’s position in global governance, including G20, UN, and trade alliances.
20. Agricultural & Rural Transformation – Develop sustainable rural economies through cooperative farming, agritech, and market reforms.

India’s Future Plans (Economic Survey 2024-25)

The Indian government’s future plans, as outlined in the Economic Survey 2024-25, focus on sustaining economic growth, industrial development, infrastructure expansion, financial stability, employment generation, and climate resilience. Below are the key highlights:

1. Economic Growth & Fiscal Strategy

• Sustaining 6-8% GDP growth over the next decade.
• Maintaining fiscal discipline while ensuring investments in infrastructure and welfare programs.
• Expanding FDI & trade partnerships to increase foreign investments.
• Privatization & Disinvestment to enhance efficiency in the public sector.

2. Infrastructure Development & Investment

• ₹10 Lakh Crore Capex Plan for transportation, logistics, and smart cities.
• Expansion of rail, road, port, and airport networks to strengthen connectivity.
• Smart Cities & Urban Development for improved housing and sustainability.
• Boosting digital infrastructure with 5G, AI, and fiber connectivity expansion.

3. Manufacturing & Industrial Growth

• Production-Linked Incentives (PLI) Scheme Expansion in semiconductors, EVs, and renewable energy.
• Reducing import dependency in electronics, defense, and energy sectors.
• Self-reliance in critical industries like green hydrogen, semiconductor fabrication, and AI-driven technologies.
• Strengthening domestic supply chains to compete with global markets.

4. Employment & Skill Development

• Upskilling & Reskilling Programs to prepare for AI, robotics, and automation jobs.
• Formalization of workforce with better social security measures.
• Encouraging MSMEs & Startups as engines of job creation.
• Boosting Women’s Workforce Participation through policy reforms and workplace support.

5. Agriculture & Rural Development

• Crop Diversification & Sustainable Agriculture to ensure food security.
• Expanding irrigation & mechanization to improve productivity.
• Agricultural Export Growth through new market access policies.
• Rural digitalization to empower farmers with better market access.

6. Trade & External Sector Strategy

• Doubling India’s exports in key sectors by 2030.
• Expanding global trade partnerships to reduce reliance on a few markets.
• Navigating trade barriers like EU’s Carbon Border Adjustment Mechanism (CBAM).
• Strengthening India’s position as an alternative to China in global supply chains.

7. Climate Change & Energy Transition

• 50% Renewable Energy Target by 2030 with increased solar, wind, and hydro projects.
• Net-Zero Emissions by 2070 with a focus on green energy and electric mobility.
• Green Hydrogen Mission to make India a global leader in clean energy.
• Climate-resilient infrastructure for agriculture and urban development.

8. Digital Economy & Artificial Intelligence

• Establishing AI & Deep Tech Innovation Hubs across India.
• ₹1 Lakh Crore R&D Fund for AI, semiconductor, and fintech innovations.
• Expansion of Digital Public Infrastructure (DPI) like UPI, ONDC, and blockchain-based governance.
• Data privacy & cybersecurity frameworks to support a trusted digital economy.

9. Social Sector & Inclusive Growth

• Strengthening Ayushman Bharat & Healthcare Infra for universal healthcare access.
• Education & Research Investments under the National Education Policy (NEP).
• Affordable Housing & Urban Development for growing populations.
• Women’s Economic Empowerment through financial inclusion and employment support.

10. Long-Term Vision: Viksit Bharat 2047

• $10 Trillion Economy by 2047, positioning India as a developed nation.
• Global Manufacturing & Digital Leader in AI, semiconductors, and space tech.
• Sustainable Development Goals (SDGs) Achievement while maintaining economic expansion.
• Strengthening India’s role in global geopolitics as a leader in emerging markets.

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Source: Ministry of Finance, Govt of India

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