Evaluating Union Budget 2024-25 through the Lens of Economic Survey 2023-24

In the wake of recent global disruptions, the Economic Survey 2023-24 underscores the pressing challenges faced by India amidst a rapidly changing global landscape marked by heightened geopolitical tensions, trade protectionism, and technological disruptions such as the rise of artificial intelligence. As the world contends with these multifaceted crises, the survey advises the Indian government to adopt a proactive and flexible approach to governance and economic policy. It calls for enhanced collaboration across all levels of government and the private sector to navigate these turbulent times effectively. Specifically, it emphasizes the need for a tripartite compact among the union, states, and the private sector to drive sustained economic growth, bolster employment, and ensure the resilience of the economy against external shocks. To see how effectively this tripartite contract has materialized and the direction in which the budget is trying to steer the country in turbulent times, read our white paper which analyzes the budget in light of the findings of the economic survey.t