When the Finance Minister presents the budget for FY25, one of the key objectives should be to amplify its limited spending budget. This should be done by increasing its role as an investment facilitator rather than direct investment. India has not benefited much from the growing weariness of investing in China and needs to tackle this issue urgently.
The slow growth in eight core industries—coal, natural gas, petroleum refining, crude, electricity, cement, and steel—is likely to reflect in industrial output as well. The eight core industries account for 40% of the index of industrial production.
Some analysts think that whatever Xi Jinping does, he is not in a position to reverse China's relative economic decline. So for India to take advantage, it must avoid the nationalist hubris that has undermined Beijing’s fortunes
The IMF has forecast global growth of 3.1% in 2024, up two-tenths of a percentage point from its October forecast, and said it expected unchanged growth of 3.2% in 2025