Economic Survey 2026 LIVE: Budget Session Begins, All Eyes on Economic Survey

The Economic Survey typically sets the tone for the Union Budget and outlines the policy framework and economic outlook for the upcoming year. The Survey is prepared by the Office of the Chief Economic Advisor (CEA) under the Ministry of Finance. More often than not, the Indian economy has expanded at a pace higher than the projections outlined in the Economic Survey. Growth for FY26 is expected to be around 7.4%, in line with the First Advance Estimates released by the National Statistical Office.

Alongside growth, inflation and fiscal arithmetic are the other key components closely tracked by economists and market participants.

Click Here to Read More

"It is natural for the attention of the country to be towards the Budget. But the identity of this Government has been reform, perform and transform. Now, we have swiftly taken off on 'Reform Express'. I express gratitude to all MPs for their positive contributions in speeding up this 'Reform Express'. As a result, 'Reform Express' is gaining speed," said PM Narendra Modi.

"At the very beginning of this quarter, the India–European Union Free Trade Agreement reflects how bright the coming direction is and how promising the future of India's youth is. This is free trade for an ambitious India, for aspirational youth, and for a self-reliant India. I am confident that Indian manufacturers, in particular, will use this opportunity to enhance their capabilities," said PM Modi ahead of Budget session.

"The Union budget should have sanctity. Whatever is announced in the Union budget should be implemented. Unfortunately, announcements made in the Union budget for Karnataka over the last two to three years have not come to fruition... It is unfortunate that the central government is mistreating Karnataka like this... They should fulfil the previous promises... We urge them to ensure that Bangalore gets the recognition it deserves... I hope the central government will present a good budget, but my hopes are not very high because I know the discrimination being meted out to non-BJP-ruled states is very clear," said Karnataka Minister Dinesh Gundu Rao.

"To attain the goal of Viksit Bharat 2047, the important phase of these 25 years has begun. The first Budget of this second quarter of the century is about to be presented. Finance Minister Nirmala Sitharaman is the first FM of the country, the first woman FM of the country who is presenting the Budget in the Parliament for the 9th consecutive time. This is registered as a proud moment in the Parliamentary history of the country," said PM Narendra Modi.

"President's address expression of confidence of 140 crore citizens; outlined aspirations of youth," said PM Narendra Modi ahead of the Economic Survey presentation

The Indian rupee slipped to an all-time low of ₹91.99 against the US dollar on January 29 early morning, weighed down by weak foreign capital inflows and increased corporate hedging. The currency is down about 2% so far this year and nearly 5% since the US imposed higher tariffs on Indian exports.

Prime Minister Narendra Modi has arrived at Parliament ahead of the tabling of the Economic Survey for 2025–26. The survey will be tabled by Finance Minister Nirmala Sitharaman.

The Budget Session of Parliament began on Wednesday with the President’s Address. While no legislative business is scheduled in the Lok Sabha, the Rajya Sabha’s agenda includes the tabling of the Economic Survey for 2025–26.

Fiscal prudence, a volatile rupee, indigenisation of the manufacturing sector and rapid technological advancement anchor the Economic Survey 2025–26, Chief Economic Adviser V. Anantha Nageswaran wrote in his op-ed ahead of the presentation on Thursday.

“Since the beginning of 2025, the price of one dollar in Indian rupees has risen by more than 6%. Over this shorter horizon, several other emerging-market currencies have performed better. However, when the frame is widened to a six-year window beginning February 2020, most major emerging-market currencies, including the Indian rupee, have weakened against the dollar by a similar magnitude,” he wrote.

"Nifty’s up move of 300 points during the last two days should be seen more as a temporary response in anticipation of the Budget to be presented on Sunday. Since the bears won’t risk going into the Budget with huge open short positions, they have covered some shorts and this has contributed to the 300 point rally in the Nifty.  It is important to note that there is no change in the short to medium-term strategy of FIIs, which is ‘sell India’ and move the money to other performing markets. Therefore, unless there is some big announcement in the Budget nudging FIIs to return to India, they will continue to sell in India thereby dragging the market down," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Adding that "Markets can always surprise. Some positive news/event can trigger a rally in the market. There are rumours of a sudden announcement of a US-India trade deal. If that happens close on the heels of the path breaking India-EU-trade deal, that would be a major boost to Indian economy and corporate earnings in FY27, and therefore, the market will respond positively."

Ahead of the Economic Survey 2025–26 presentation, the stock market opened with marginal losses. The BSE Sensex was down 0.56% at 81,877.97 at 10.20 am, while the Nifty 50 was trading 0.57% lower at 25,195.70.

Kerala Finance Minister K N Balagopal presented the State Budget 2026 in the Assembly, announcing an array of welfare spending. The budget allocates ₹3,820 crore for the women’s security welfare pension and ₹14,500 crore for disbursing welfare pensions in 2026–27, while ₹400 crore has been set aside for the Chief Minister’s ‘Connect to Work’ scholarship scheme. It also provides for pay hikes, including a ₹1,000 increase for Anganwadi workers, pre-primary teachers, ASHA workers and literacy promoters, a ₹500 hike for Anganwadi helpers, and a ₹25 rise in daily wages for school mid-day meal workers.

“This year’s Economic Survey comes at a time of unprecedented pressures on India’s economy and addresses key questions,” Chief Economic Adviser V. Anantha Nageswaran writes in Mint ahead of its presentation. He says the survey will answer questions such as: “Has India done enough to lift and sustain growth? How should we achieve greater indigenisation and export competitiveness? How do we structurally reduce the cost of capital?”

For the year ending March 31, India is projected to record economic growth of 7.4%, higher than the 6.3–6.8% range projected in last year’s pre-Budget Economic Survey. In most instances, India has outperformed the growth estimates outlined in the Survey.

Industry experts and market participants will closely track the data and policy prescriptions detailed in the document, which often set the narrative framework and forward-looking guidance for economic decision-making.