India has a shot at shaping new world order amid uncertainty, says CEA V Anantha Nageswaran ahead of Economic Survey

Capital gains tax might sound complex, but with a little planning, you can manage it effectively.

Chief Economic Adviser (CEA) V Anantha Nageswaran, who will present the Economic Survey 2024-25 on January 31, has talked about the emerging new world order and the pivotal role the Indian economy can play in reshaping it amid deep shifts in political and policy landscapes.

In a column from Mint, Nageswaran said the survey, his third, would talk about “fruitful policy initiatives” and “innovative practices in the social sector” among others.

Also Read: Charting India's economic course: Chief Economic Adviser V Anantha Nageswaran

While preparing the survey, which is the government’s official report card on the state of economy, Nageswaran said the major questions that were considered included role of artificial intelligence (AI) in the job market, key drivers of world economy growth and inflation expectations.

The Economic Survey is “more complex than at the time of the previous two surveys”. “Portfolio and net foreign direct investment flows in 2024-25 have moderated. These have not posed any concern to financing India’s imports or the current account deficit, as the price of India’s crude oil basket declined in the course of the financial year,” the CEA wrote.

Also Read: Economic Survey 2025 Date and Time: What is Economic Survey and when will it be presented?

On the emerging global world order, CEA said "the era of globalisation is largely over” and "India has a shot at reshaping the world order".

Nageswaran, who has completed three years in office, was appointed CEA in January 2022 and has been instrumental in guiding economic strategies.

The Economic Survey gives a detailed account of the state of the economy, prospects and the policy challenges. It carries sectoral overviews and comments on reform measures that are required. The Survey’s outlook serves as a marker of the future policy moves and often lays the ground for the Union Budget, which is typically presented the next day.