Number Theory: The Indian economy — Equality, sentiment and growth realities
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The 2025-26 Union Budget has given a huge tax relief -- ₹1 lakh crore, by the government’s own calculations. In an interview to HT this week, finance minister Nirmala Sitharaman expressed a guarded optimism about its potential demand boost. “Discretionary spending may happen. We don’t know, but our intent and the primary motive was to make sure we honour the taxpayer,” she said.
The 2024-25 Economic Survey, which was presented a day before the budget, set out a goal of sustained 8% GDP growth for India for at least a decade. This, the survey said, will take an investment-GDP ratio of 35%. What will it take to achieve these goals? Here are three charts that capture the reality of growth, inequality and sentiment challenges in the Indian economy.
