Economic Surveys & Reports

📘 CDS Economics · ECC09 📑 CDS Level : High Priority

Economic Surveys & Reports is the most dynamic CDS chapter — it changes every year. Knowing the latest Economic Survey headlines, Union Budget key numbers, and India’s global ranking scores directly translates to marks. Treat this as current affairs crossed with economics.

📌 CDS Pattern: Latest GDP growth rate • Current inflation • Fiscal deficit target • India’s GII/HDI/GHI rank • Budget highlights (defence, infra) • NITI Aayog reports • RBI Annual Report data

1. Union Budget FY 2025–26 Key Numbers

Total Budget Outlay

Rs 50.65 lakh crore

Largest ever Union Budget; 14.6% increase from FY25

Defence Allocation

Rs 6.81 lakh crore

Highest ever; ~13.4% of Union Budget; Capital: Rs 1.80L cr

Fiscal Deficit Target

4.4% of GDP

FY25 target was 4.9%; consolidation path toward 4.5%

Capital Expenditure

Rs 11.21 lakh crore

3.1% of GDP; infrastructure push; roads, railways, digital

Tax Relief FY26

No tax up to Rs 12 lakh (new regime)

Rs 12.75 lakh with Rs 75,000 standard deduction for salaried

2. Economic Survey & Key Indicators

GDP Growth (FY25): ~6.4% (First Advance Estimate, NSO). India = world’s fastest-growing major economy. Target FY26: 6.5–7%.
CPI Inflation (2024): Eased toward 4–5% range. Food inflation remained concern (vegetables, pulses). RBI target: 4% (±2%).
Repo Rate (Feb 2025): 6.25% (cut by 25 bps; first cut since May 2020). CRR: 4.0% (cut Dec 2024).
Forex Reserves (2024): USD 620–640 billion range. World’s 4th largest. Buffer against currency volatility.
India’s GDP (nominal): ~USD 3.7–3.9 trillion. 5th largest economy globally (nominal). 3rd largest by PPP (Purchasing Power Parity).
Defence Exports FY24: Rs 21,083 crore (highest ever). Target: Rs 35,000 crore by FY25. PLI for defence manufacturing in UP & Tamil Nadu corridors.

3. India’s Global Rankings

Global Innovation Index 2024 (WIPO): India rank 39 (from 81st in 2015; consistent annual rise). Strength: IT services, start-up ecosystem (3rd largest globally), scientific publications.
Human Development Index 2023/24 (UNDP): India rank 134 (out of 193). Medium HDI category. Dimensions: long & healthy life, education, standard of living.
Global Hunger Index 2024 (Welthungerhilfe): India rank 105 (out of 127). India officially disputes the methodology and rejects the report.
Corruption Perception Index 2023 (Transparency International): India rank 93 (score 39/100).
Global Competitiveness 2024 (WEF): India rank 40. Strength: market size, innovation, macroeconomic stability.
NITI Aayog SDG India Index 2023–24: India’s composite score = 71/100. Best-performing states: Kerala, Tamil Nadu, Goa. SDG = 17 Sustainable Development Goals (UN 2030 Agenda).

📝 CDS PYQEconomic Surveys & Reports — CDS Pattern

Q1. India’s Global Innovation Index (GII) 2024 rank is 39. Which organisation publishes the GII? (CDS I 2024)

(a) UNDP (b) World Bank (c) WIPO (World Intellectual Property Organization) (d) WEF

Answer: (c) WIPO (World Intellectual Property Organization)
GII is published annually by WIPO. India improved from rank 81 (2015) to 39 (2024) in 9 years — consistent improvement. Strength areas: IT services, patents filed, scientific publications, start-up ecosystem. HDI = UNDP. Ease of Doing Business = World Bank (discontinued 2021). WEF = Global Competitiveness Report, Davos Forum.

Q2. India’s fiscal deficit target for FY 2025–26, as per the Union Budget, is: (CDS II 2024)

(a) 3.5% of GDP (b) 4.0% of GDP (c) 4.4% of GDP (d) 5.1% of GDP

Answer: (c) 4.4% of GDP
FY26 fiscal deficit target = 4.4% of GDP. This is on the consolidation path: FY21 (pandemic peak ~9.2%) → FY24 (~5.6%) → FY25 (~4.9%) → FY26 (~4.4%). Medium-term target is to bring fiscal deficit to 4.5% and gradually toward 3%. Fiscal consolidation = Government reducing deficit by cutting expenditure or raising revenue.

Q3. India’s Human Development Index (HDI) rank as per UNDP’s 2023/24 report is: (CDS I 2023)

(a) 110 (b) 124 (c) 134 (d) 145

Answer: (c) 134
India’s HDI rank = 134 (out of 193; medium human development category). HDI measures: (1) Long and healthy life (life expectancy), (2) Education (mean & expected years of schooling), (3) Standard of living (GNI per capita PPP). HDI published by UNDP. India’s HDI score has been improving but ranking reflects competition from improving nations.

📝 Rapid Revision — ECC09

📋 Budget FY26

Total: Rs 50.65 lakh crore
Defence: Rs 6.81 lakh crore (highest ever)
Capital Expenditure: Rs 11.21 lakh crore
Fiscal deficit target: 4.4% of GDP
No tax up to Rs 12 lakh (new regime)

📈 Rankings (Publisher)

GII Rank 39 → WIPO
HDI Rank 134 → UNDP
GHI Rank 105 → Welthungerhilfe (India disputes)
CPI Rank 93 → Transparency International
Global Competitiveness 40 → WEF

🏭 Key Indicators

GDP FY25: ~6.4% (fastest major economy)
Repo Rate: 6.25% (Feb 2025 cut)
CPI Target: 4% (±2%)
Forex Reserves: ~USD 620-640 billion (4th largest)
India = 5th largest economy (nominal GDP)

🚫 CDS Traps

GII = WIPO (NOT World Bank)
HDI = UNDP (NOT WEF)
GHI rank = India DISPUTES this officially
India = 3rd by PPP; 5th by Nominal GDP
Fiscal Deficit 4.4% = FY26 target (NOT achieved yet)

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