Economic Survey 2026 Live Updates: FM To Table Document In Parliament At 11 AM, Key Expectations, And More

Prime Minister Narendra Modi speaks to the media ahead of the tabling of the Economic Survey. 

Watch here:

Speaking at the start of the Budget Session of Parliament. May both Houses witness meaningful discussions on empowering citizens and accelerating India’s development journey. https://t.co/tGqFvc4gup

— Narendra Modi (@narendramodi) January 29, 2026

Market sentiment, in particular, hinges on several factors, including the tax structure. According to Anand Rathi Group Founder Anand Rathi, reducing transactional taxes such as the Securities Transaction Tax (STT) and lowering personal income tax rates would help trigger a market rally. 

Rathi argued that to boost investor confidence, the government should rationalise capital gains tax and reduce personal income tax in the upcoming budget. Easing these tax burdens, Rathi said, would encourage greater retail participation, improve domestic investors' net returns, and lift overall market sentiment.

Read the full story here.

As Budget 2026 approaches, much of the debate remains centred on fiscal discipline and capital expenditure. But a contrarian proposal from Saurabh Mukherjea has shifted the spotlight. India's small and mid-sized enterprises, which account for the bulk of job creation but have seen little benefit from the post-pandemic recovery.

India's economic rebound, he says, has been sharply K-shaped, with smaller firms struggling while larger corporates continue to compound profits. That divergence matters because of where employment sits. "Eighty percent of the jobs are created in companies with less than Rs 1 crore PAT," Mukherjea said.

According to Mukherjea, such a tax cut could be financed by trimming 10-15% of the government's capex budget without derailing fiscal consolidation.

Read the full story here.

CEA Nageswaran, in an OpEd in Mint, highlighted five economic themes to watch out for ahead of Economic Survey 2026:

• India's Resilient GDP Growth Amid Geopolitical Risk Premium

The CEA says that as of now, estimated growth in real terms is 7.4%, and that India has "sustained growth since the pandemic and has roughly halved the Union government’s fiscal deficit as a proportion to gross domestic product". This is based on the projected 2025-26 budget deficit announced in February 2025, and despite significantly ramping up public infrastructure investment.

• Fiscal Prudence

On the point of fiscal prudence, CEA Nageswaran says that, "Deficit reduction has been accompanied by an improvement in the quality of fiscal expenditure. Fiscal prudence, conservatism and economic growth earned the country three credit-rating upgrades last year."

• Rupee-Dollar Trend

He adds that the price of one dollar in Indian rupees has gone up by more than 6% since the beginning of 2025. "Over this shorter horizon, several other emerging-market currencies have performed better. However, when the frame is widened to a six-year window beginning February 2020, most major emerging-market currencies, including the Indian rupee, have weakened against the dollar by a similar magnitude."

• India's Manufacturing Base

The CEA emphasises that countries that have "built a strong manufacturing base, export manufactured goods and run external surpluses have enjoyed strong and stable currencies." However, he says that they did so at a time "when the climate was not a pressing concern and energy-transition considerations were distant."

• AI Boom and Job Security

The CEA pointed out that, "Rapid advances in artificial intelligence over the last year have raised new questions for a nation that needs to generate at least 8 million jobs annually." This comment also comes amid chatter around job loss, as well as job creation, in the age of AI.

The Economic Survey 2026 typically reviews key aspects of the economy, including GDP growth patterns, inflation and monetary policy developments, the fiscal landscape, external sector performance (trade, forex trends), and social indicators such as jobs, health, and education. It also features dedicated chapters on new and emerging policy themes.

For markets, the focus will be on the Survey’s assessment of global risks, the roadmap for fiscal consolidation, and sector‑specific insights — all of which shape sentiment across equities, bonds, and currencies. Although the Survey does not announce policies, it often sets the tone for the Budget and influences the direction of future economic strategy.

Ahead of the Budget 2026, sources told NDTV Profit's Rishabh Bhatnagar that the Modi government is planning to expand the definition of startups to promote innovation in deep-tech in the upcoming Union Budget.

The sources added that the broader definition of startups will also allow flexibility for companies to pivot fields, and the new definition aims to incentivise more companies to innovate and take risks. 

Keep in mind that just last week, Commerce and Industry Minister Piyush Goyal said the government has readied draft guidelines for the second Rs 10,000 crore Fund of Funds for Startups with a clear focus on deeptech segments. 

Read the full story here.

India’s economic expansion has frequently outpaced the forecasts presented in the Economic Survey. For instance, growth for 2025-26 is expected to reach 7.4%, higher than the 6.3-6.8% range projected in the pre‑Budget document.

In 2023-24, GDP growth came in at 9.2%, well above the Survey’s estimate of 6-6.8%.

For 2024-25, however, the economy grew 6.5%, broadly in line with the projected 6.5-7% range. The analysis shows that the only significant undershoot occurred in 2022-23, when actual growth of 7.6% fell short of the 8-8.5% projection.

In 2021-22, the Economic Survey did not provide a forecast due to the uncertainties surrounding Covid‑19. Growth for that year eventually stood at 9.7%, driven largely by a favourable base effect.

By contrast, 2020-21 recorded a contraction of 5.8%, reflecting the severe economic disruptions caused by the pandemic and nationwide lockdowns.

There's a bunch of terms and concepts in the soon-to-be-tabled Economic Survey, that might seem like jargon, but are important in knowing how the Economic Survey and Union Budget impact us.

NDTV Profit has a list of articles that you can go through, for better understanding of the document to be presented today.

• What Is Fiscal Deficit?
• What Is A Subsidy?
• What Is The Union Budget?
• What Is Disinvestment?
• What Is Revenue Deficit?
• What Are Indirect Taxes?

The Economic Survey 2026 is scheduled to be presented in Parliament between 11 a.m. and noon. The proceedings can be viewed live on Sansad TV, as well as on NDTV Profit.

Chief Economic Advisor V. Anantha Nageswaran will later brief the media on the key insights, trends, and the country’s projected growth path.

The complete document will also be made available online on the Union Budget website.

You can watch FM Sitharaman tabling the Economic survey right here:

The Economic Survey, typically tabled a day before the Budget, gives an overview of what the Budgetary panel had in mind before framing the key policy decisions in the main Budget document. 

The Survey is traditionally presented by India's Chief Economic Advisor (CEA) before both Houses of Parliament on Jan 31 annually,  and it is prepared by the Finance Ministry's Department of Economic Affairs (Economic Division).

Although it does not introduce new policies or tax measures, it offers the analytical groundwork that shapes the final decisions presented in the Budget.