Select Page

New Delhi: Majority of industry leaders expect the country’s economy to grow between 6-6.9% in the financial year 2025-26, supported by technological advancements and reforms to improve the ease of doing business, says a survey. According to the Grant Thornton pre-budget survey, which included responses from over 155 industry stakeholders across sectors, respondents are optimistic about India’s economic outlook. “… With the majority expecting growth between 6-6.9% in FY 2025-26. About 22% of respondents anticipate a stronger growth rate in the range of 7-7.9%,” it said.

The survey gathered responses from industry stakeholders, assessing expectations, growth factors, and priority reforms to provide a comprehensive outlook on industry demands for the upcoming budget. The survey respondents believe that technological advancements and reforms to improve the ease of doing business will be pivotal to driving India’s growth in the upcoming fiscal year.

“By aligning fiscal policies with these priorities, Budget 2025 can act as a catalyst for growth, while ensuring equity and efficiency in the economy,” it said. The Union Budget for 2025-26, is scheduled to be presented by finance minister Nirmala Sitharaman on Feb 1. The Budget will be presented amid global economic uncertainties and moderating domestic growth.

IMF has maintained India’s real GDP growth forecast at 6.5% for FY 2024-25. The United Nations (UN) has retained its projection at 6.6% for the calendar year 2025. However, the World Bank and Moody’s have revised their growth estimates downward to 6.5% and 7% for FY2024-25, respectively.

The consultancy firm said, according to the survey, 84% of respondents support reducing GST on health insurance, while 68% expect an expansion of financial inclusion via SME lending and digital public infrastructure. Around 13% respondents pitched for introduction of new tax incentives for research and development. Grant Thornton said the survey respondent called for regulatory coordination among banking, securities, and insurance bodies, while the fintech sector sought easier access to capital and tax incentives for blockchain and AI innovation. agencies

  • Published On Jan 30, 2025 at 08:09 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETBFSI App

  • Get Realtime updates
  • Save your favourite articles

icon g play

icon app store


Scan to download App
bfsi barcode

Share it on social networks