Trump Tariffs on India Surprised Many, But Economy Accelerated: Economic Survey

• The Economic Survey revealed that US President Donald Trump's tariffs on India surprised many, as India was expected to benefit from America's new tariff regime.
• Despite initial downward revisions in growth forecasts due to tariffs, India's economy actually experienced accelerated growth.
• This acceleration was attributed to structural reforms and policy measures by the Centre, including a radical overhaul of the GST regime.
• Other key reforms included opening nuclear power to the private sector, 100% FDI in insurance, and notification of four labor codes.
• The survey noted a sense of "dynamism" in the government, leading to an anticipated full-year real growth rate of over 7%.

Why It Matters: Despite unexpected Trump tariffs, India's economy accelerated due to significant structural reforms and policy measures.