Despite global economic headwinds, India's economy demonstrates resilience and strong growth, proving it is far from a "dead economy". Finance Minister Nirmala Sitharaman has presented figures highlighting the nation's robust economic performance and positive outlook.

Strong GDP Growth: India's economy grew by 6.5% in FY25, with a 7.4% growth rate in Q4 FY25. The Reserve Bank of India (RBI) projects a growth rate of 6.5% in FY26 as well. This makes India one of the fastest-growing major economies in the world. Deloitte projects India to grow between 6.4% and 6.7% in fiscal year 2025-2026.

Key Economic Indicators: Several key economic indicators point towards a positive trajectory. The services sector, for instance, has shown remarkable expansion, with the services PMI surging to a 15-year high in August 2025. The manufacturing PMI also climbed to a 16-month high, supported by stronger new orders, output, and inventories. GST collections have reached record levels, with the highest-ever gross collection recorded in FY25. The Index of Industrial Production (IIP) has also shown growth.

Government Initiatives and Reforms: The government's focus on capital expenditure and infrastructure development has played a crucial role in boosting economic growth. The government's capital expenditure outlay in H1 FY25 was Rs. 15,02,000 crore (US$ 176 billion). The government has also implemented policy reforms, including GST reforms, to improve the business environment and promote economic activity. A task force on next-generation reforms is expected to create a simpler and more enabling framework for small businesses.

External Sector Performance: India's external sector remains strong, reflecting a positive outlook for economic growth and rising employment rates. Exports reached Rs. 37,31,000 crore (US$ 436.6 billion) in FY25, led by Engineering Goods, Petroleum Products, and Electronic Goods. The current account deficit has narrowed, and foreign exchange reserves have reached an all-time high.

Challenges and Way Forward: Despite the positive indicators, some challenges remain. These include global economic uncertainties, trade headwinds, and the need to address income inequality. The government is focused on supporting exporters, promoting infrastructure development, and strengthening financial inclusion. The long-term prospects for the Indian economy remain bright, with the country poised to continue on its growth path and achieve its development goals.

In conclusion, India's economy is not a "dead economy." The figures presented by Finance Minister Nirmala Sitharaman, along with various economic indicators and government initiatives, demonstrate the resilience and growth potential of the Indian economy. While challenges remain, the country is well-positioned to continue its strong economic performance in the years to come.