Sir,
The recent slowdown in India’s GDP growth to 5.4% in the second quarter of 2024 raises serious concerns about the country’s economic trajectory. Despite optimistic statements from the Finance Minister regarding a rebound in the third quarter, the stark decline in the manufacturing sector, sluggish private consumption, and rising inflation reflect deeper challenges. With global uncertainties and geopolitical tensions looming, the Indian economy faces a critical juncture.
To maintain growth, the Union Budget 2025-26 must focus on substantial public expenditure, infrastructure investment, and job creation. However, the Government’s track record in fully utilizing its capital expenditure allocation is concerning. Addressing the agrarian crisis and revitalizing the manufacturing sector are urgent priorities. If these issues are not tackled effectively, the country risks losing its economic momentum. The upcoming budget must provide bold solutions to safeguard India’s future growth prospects.
Niharika Katoch
Bhaderwah
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