India's economy is likely to continue its sluggish pace of growth next fiscal year weighed down by global risks, according to a finance ministry report that has called on states to pursue business reforms to boost economic activity.

Addressing the slowdown in the economy, CEA Nageswaran pointed out that India ‘still remains the fastest growing large economy in the world’.

The survey’s prediction for economic growth in the upcoming financial year – between 6.3% and 6.8% – falls short of this target.

Hon’ble Minister for Housing and Urban Affairs, Shri Manohar Lal, lauded the advancements, emphasizing their role in fostering inclusive growth and enhancing the ease of living for citizens.

LIVE: The Economic Survey is a pre-budget document detailing the state of the economy over the last fiscal year.

The Economic Survey highlights crucial areas such as artificial intelligence, innovation, and infrastructure. Experts note the need for deregulation and reforms for achieving the projected growth rate of 6.

The Economic Survey presents a positive outlook for India's economic growth, backed by strong macroeconomic fundamentals, rising formal employment, and stable external reserves. Budget Session of the Indian Parliament commenced on Friday,