India's economy is projected to expand by 6.4 per cent in FY25, driven by robust rural demand, services sector growth, and macroeconomic stability, according to the Economic Survey 2024-25.

Chinese manufacturing prowess and its dominance in the strategic sector will have a bearing on India's growth projection in the medium term and its march to become a developed nation by 2047, the Economic Survey said on Friday.

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.

India should leverage evolving global trade dynamics, such as greater protectionism, to accelerate its growth and enhance its presence in global trade, said the Economic Survey 2025, tabled in the parliament on Friday.

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.

The Indian government's economic report, coming a day ahead of the annual budget, is likely to project GDP growth of 6.3-6.8% in 2025-26, according to two sources familiar with the matter.

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.