We must acknowledge the breadth and candid presentation of the state of the economy presented in the Economic Survey 2025-26. It introduces two interesting phrases that summarise the challenges facing India and the Indian monetary and fiscal authorities. Further, India’s manufacturing sector has not been able to keep pace with its growth ambitions owing to upstream protectionism impacting micro, small, and medium enterprises (MSME) competitiveness. Instead, it must demonstrate strategic sobriety and dovetail into a strategy summarised by the second interesting phrase in the survey — ‘running the sprint and marathon’ at the same time. We can continue to expect India to realise strong growth by navigating the economic headwinds as an ‘entrepreneurial state’!