<h1>Economic Survey: India Needs Deregulation, Reforms for 8% Growth to Become Developed by 2047, Despite Global Risks</h1> India's economy is projected to grow by 6.3-6.8% in FY26, as per the government's Economic Survey, which highlights the need for deregulation and reforms in land and labor to boost growth. The survey suggests that a near 8% growth rate is essential to achieve the goal of becoming a developed nation by 2047. It emphasizes enhancing economic freedom and reducing compliance costs to stimulate innovation and competition. While rural demand and a stable macroeconomic environment offer growth potential, geopolitical uncertainties and commodity price shocks pose risks. The financial sector remains resilient, with improved banking profitability and strong capital market performance. The survey calls for strategic trade policies to navigate global trade dynamics.