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POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Resolution Under Insolvency and Bankruptcy Code (IBC): As of September 2024, ?3.6 lakh crore
has been realized through the resolution of 1,068 cases under the IBC, highlighting the
effectiveness of insolvency reforms.

11. Stock Market
Market Capitalization: The BSE stock market capitalization to GDP ratio stood at 136%,
significantly higher than that of China (65%) and Brazil (37%), reflecting a robust equity market
relative to the size of the economy. The total resource mobilisation from primary markets (equity
and debt) stands at ?11.1 lakh crore from April to December 2024, five per cent more than the
amount mobilised during FY24.

Recent Market Trends: Indian benchmark stock indices have experienced a downturn, with the
Nifty 50 index falling about 14% from its peak in September 2024, marking the steepest
consecutive monthly drop in nearly three decades. High inflation and stagnant incomes have
impeded economic growth and corporate profits, leading to a notable $25 billion sell-off by
foreign investors. Analysts anticipate a gradual and partial recovery in the stock market during
2025.

12. Technological Advancements
AI and Employment: The survey highlights the potential of India's young, tech-savvy population
to harness Artificial Intelligence (AI) for enhancing productivity and job performance.

13. Policy Recommendations
Deregulation and Structural Reforms: Emphasis on accelerating deregulation and implementing
structural reforms to foster sustainable economic growth.
Infrastructure Development: Encouragement of private sector participation in infrastructure
projects to meet the nation's development goals by 2047.

Union Budget 2025-26

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget
for fiscal year 2025-26 on 1st February 2025. The budget focuses on stimulating economic growth,
supporting the middle class, and promoting inclusive development. Key highlights include:

1. Budget Estimates 2025-26:

Total Expenditure: ?50.65 lakh crore.
Total Receipts (excluding borrowings): ?34.96 lakh crore.
Fiscal Deficit Revised Estimate for 2024-25: 4.8% of GDP.
Fiscal Deficit Budget Estimate for 2025-26: 4.4% of GDP.
Net tax receipts estimated at ? 28.37 lakh crore.
Gross market borrowings estimated at ? 14.82 lakh crore.
Capex Expenditure of ?11.21 lakh crore (3.1% of GDP) earmarked in FY2025-26.

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