The Bihar government has formed a state-level task force to monitor actions taken by authorities to prevent and eradicate child marriages in the state. Bihar has the second-highest rate of child marriage in India, with 40.8% of women getting married before turning 18. The government is implementing a multipronged strategy to combat child marriage, including stricter enforcement of the law, empowering girls through education, and raising awareness.
India's primary deficit (Centre and states) for FY21 is assumed to be 6.8 per cent of GDP, according to the Economic Survey tabled in Parliament on Friday. It said the Covid-19 pandemic has created a significant negative shock to demand. Active fiscal policy -- one that recognises that fiscal multipliers are disproportionately higher during economic crises than during economic booms -- can ensure that the full benefit of seminal economic reforms is reaped by limiting potential damage to productive capacity.
Monetary Policy- Easing expected to happen later this financial year.
Lauding the strong industrial performance, the Economic Survey on Thursday asked the government to ensure a balance and sustained growth as certain sectors have failed to see a revival in 2009-10.
Lauding the strong industrial performance, the Economic Survey on Thursday asked the government to ensure a balance and sustained growth as certain sectors have failed to see a revival in 2009-10.
Gandhi said just like the Constitution, the "caste census" is a policy framework and a guide for the Congress.
'Unsurprisingly, Trump shared Modi's podcast with Fridman on his Truth account.' 'The intentions of Trump, a transactional president, are never easy to tell.' 'We will know in the next fortnight if and when he unfolds reciprocal tariffs on Indian goods, whether Modi's flattering words made any significant difference to Trump's compass,' notes Ambassador M K Bhadrakumar.
The pre-Budget Economic Survey on Thursday said the country's tax system continues to be complex and asked the government to undertake further reforms, including implementation of a uniform tax structure -- goods and services tax.
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
India must improve business climate.
By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
He argued that if inflation is low, stable and moving towards the 4 per cent target, why has the RBI not revised downward the bank rate fixed in June 2023?
The earthquake rocked many parts of Thailand including its capital Bangkok, the venue for next week's summit of BIMSTEC regional grouping that is scheduled to be attended by Modi among other leaders.
Finance Minister Nirmala Sitharaman on Tuesday said the securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument.
Citing a research paper by A Banerjee, S Cole and E Duflo on the Indian banking sector, it noted that the fear of prosecution for corruption resulted in reduced lending in an affected branch of a PSU bank as well as in neighbouring branches for around two years.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
The government should cut customs duties and streamline export promotion schemes and pay special attention to infrastructure to overcome the contracting exports on account of recession in India's major trading partners, the Economic Survey said.
The unemployment rate for people aged 15 years and above in urban areas dipped to 6.4 per cent in the July-September quarter, according to the National Sample Survey Survey (NSSO). Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force. The unemployment rate in the September quarter of FY24 was 6.6 per cent.
The survey will encompass various indicators of backwardness such as occupation, educational qualification along with the type of educational institutions attended by members of the households to gauge the social and educational conditions of the backwardness in Odisha, the official said.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
Iconic dialogues from Bollywood movies like Sunny Deol's Damini, have found its place in the Economic Survey 2018.
India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-run average.
With regard to foreign institutional investors, the survey said that there are signs that FIIs who had recorded net outflows in 2008-09 may have returned to the Indian market in the last two months.
The Survey says that present skilled workforce in India is only 2%.
The government has invited applications for the post of chief economic adviser (CEA) to replace K V Subramanian, who will complete his three-year tenure next month. Subramanian was appointed as CEA on December 7, 2018, while he assumed charge on December 24 in the same year. As per the public notice dated October 24, 2021 issued by Department of Economic Affairs, the Ministry of Finance, officer of central, state governments, RBI and public sector banks holding analogous post on regular basis in parent cadres or department are eligible to apply for the post.
'The BJP lacks a credible mass leader who matches Mamata Banerjee's popularity.' 'Given the division of votes among Opposition parties, the West Bengal government's dole-giving strategy, and the consolidation of the poor, significant sections of scheduled caste groups and Muslim minorities behind the ruling party, it will be difficult to dislodge the Trinamool from power.'
The Supreme Court on Tuesday asked the Bihar government to put in the public domain the break-up of the caste survey data to enable those aggrieved to challenge the findings.
The book was thinner by 60 pages compared to last year.
'How many jobs will be created when you complete your course?' 'How many people will compete with you?' 'What is the minimum and maximum salary you can expect?' 'Which are the companies that will offer you a job?' 'What skills do you have to develop?' 'How long will it sustain?'
Retail inflation during the first month of the current fiscal stood at 2.9 per cent, down from 4.6 per cent a year ago. Food inflation based on Consumer Food Price Index declined to a low of 0.1 per cent during the financial year 2018-19, the survey said.
Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
According to the data released in Patna by Development Commissioner Vivek Singh, the state's total population stood at a little over 13.07 crore, out of which the EBCs (36 per cent) were the largest social segment followed by the OBCs at 27.13 per cent.
Following are the highlights of the Economic Survey 2022-23 tabled in Parliament on Tuesday
High domestic food prices are still a cause for concern despite India hugely benefiting from a slump in global oil and commodity prices that pushed inflation into negative zone, the Economic Survey said.
The social and educational conditions of 208 OBC communities enlisted by the state government will be collected during the survey, which will be followed by a special drive to ensure that none were left out across the state, an official said.
It will be interesting to see what shifts have been recorded in the last decade-and-a-half -- from the effects of demonetisation and Covid's second wave to the drop in fertility and increase in farm workers -- but we will only know this if and when the Census is conducted, points out Aakar Patel.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
It noted that the economy underwent a transition -- possibly, structural and permanent -- from high to low inflation in the last three years.
India's sovereign credit ratings do not reflect the economy's fundamentals, the Economic Survey said on Friday and nudged the global agencies to become more transparent and less subjective in their ratings. The Economic Survey 2020-21, tabled in Parliament, said that sovereign credit ratings methodology must be amended to reflect economies' ability and willingness to pay their debt obligations, and suggested that developing economies must come together to address this bias and subjectivity inherent in sovereign credit ratings methodology. "Never in the history of sovereign credit ratings has the fifth largest economy in the world been rated as the lowest rung of the investment-grade (BBB-/Baa3). While sovereign credit ratings do not reflect the Indian economy's fundamentals, noisy, opaque and biased credit ratings damage FPI flows," the survey said.
With the dissolution of former chief statistician Pronab Sen-led Standing Committee on Statistics (SCoS) by the Ministry of Statistics and Programme Implementation (MoSPI), the National Statistical Commission (NSC) has regained prominence as the primary statistical body to address issues regarding results, methodology and questionnaire, among others. A MoSPI official in an email informed the 16-member SCoS about the decision to dissolve it, citing that its work was "overlapping" with that of the Steering Committee for National Sample Surveys (NSS), which was set up in June this year.
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