The infographic “In Need of A Lift” provides a detailed overview of India’s economic challenges ahead of the 2025-26 budget, highlighting several critical indicators signaling economic headwinds. GDP growth has fallen to a 4-year low, with projections showing a modest 6.4% growth rate for 2024-25. Private consumption, though showing some improvement, reveals signs of an urban slowdown, and project announcements have experienced a sharp decline of -41.9% in Q3FY25.

Economic Indicators

The data reveals concerning trends in capital formation, with gross fixed capital formation increasing by only 6.4%. Additionally, the Centre’s capital spending has dropped from 58.5% in 2023-24 to 46.2% in 2024-25. While labor force participation has improved to 60.1%, it still underscores structural challenges in job creation.

Critical Omission

A significant gap in this economic analysis is the complete absence of agricultural sector indicators, despite the sector’s importance:
•It employs nearly half of India’s workforce.
•Rural consumption patterns, which often differ significantly from urban trends, are not mentioned.
•Key metrics such as agricultural growth rates and farm income are missing.
•The impact of monsoon variability on economic projections is overlooked.
•Agricultural credit and investment needs remain unaddressed.

External Challenges

The infographic does highlight external pressures, such as the global economic slowdown, unpredictable trade policies, and rupee depreciation. However, it fails to link these factors to agricultural exports and imports, which play a crucial role in farmer incomes and food security.

Although the fiscal deficit trajectory from 2018-19 to 2024-25 suggests constrained government spending capacity, the analysis does not consider the potential effects on agricultural subsidies and rural development programs. This urban-focused perspective risks undermining the balanced understanding necessary for comprehensive economic planning.