Defending Prime Minister Narendra Modi’s appeal to conserve foreign exchange, Union Finance Minister Nirmala Sitharaman said the Indian economy is resilient but the West Asia crisis is exerting pressure on its foreign exchange outgo due to high crude oil, fertiliser and gold prices amid the ongoing conflict.
India’s economic messaging has undergone a subtle but unmistakable shift over the past week.
The Centre has sharply raised import duty on gold, silver and platinum as geopolitical tensions and rising import costs put pressure on India’s external account.
New leadership at India’s policy think tank blends economic depth and scientific expertise, with key appointments highlighting Bengal’s continued influence in national governance and institution-building.
Morgan Stanley sees Indian equities entering a recovery phase with improving earnings and low valuations, projecting a sharp upside for Sensex over the next two years.
Goyal was speaking at the World Forum of Accountants organised by the Institute of Chartered Accountants of India (ICAI) in Greater Noida.
While giving a detailed presentation on the Economic Survey, CEA said the Real GDP growth has improved steadily, rising from an average of 6.4 per cent during FY12-FY20 to 6.5 per cent in FY25, and is projected to accelerate further to 7.4 per cent in FY26.
The Survey noted that the recovery rate in NPAs of Scheduled Commercial Banks (SCBs) rose from 13.2 per cent in FY18 to 26.2 per cent in FY25.
The Economic Survey observed that, unlike in 2023 and 2024, when rural inflation exceeded urban inflation, rural inflation declined in 2025 and remained lower than urban inflation, reflecting the sharp fall in food prices and offering relief to rural households.
India’s external performance demonstrates resilience to global shocks and highlights the structural characteristics associated with a rapidly growing economy that is integrating more deeply into global markets, says the Economic Survey tabled in Parliament on Thursday by Finance Minister Nirmala Sitharaman.
