However, financial flows to the economy remained constrained because of decline in the amount of equity finance raised from the capital markets and stress in the NBFC sector, Finance Minister Nirmala Sitharaman pointed out.
The Survey estimated that a UBI that reduces poverty to 0.5 per cent would cost 4-5 per cent of GDP, assuming that those in the top 25 per cent income bracket are not part of the loop.
India's GDP may turn positive at 1.3 per cent in the third quarter of 2020-21, having witnessed contraction in the previous two quarters due to the coronavirus pandemic, as the number of cases is falling and public spending has started rising, according to a report. The government will release the GDP numbers for the October-December quarter of the current fiscal on Friday. Projecting that the gross domestic product (GDP) may have returned to the black in the last quarter of the calendar year 2020, DBS Bank in the report said the full-year growth in real terms may be at a negative 6.8 per cent.
The RBI projection of 6.9 per cent GVA growth for the current fiscal comes on the back of the Economic Survey last week forecasting economic growth of 6.5 per cent.
Projecting a moderation in inflation despite the hike in petrol and diesel prices, the Economic Survey on Thursday cautioned against the pressures from rising foreign funds and global commodity price movement.
The government last year introduced the Insolvency and Bankruptcy Code.
'The fiscal deficit target of 3.9 per cent of GDP seems achievable.'
Alternatively, the government may go in for a five-day session to blunt criticism that it was running away from debates.
The early tabling of the financial Budget ends a 70-year tradition.
India's economic growth slowed down to 8.4 per cent for the quarter ended December 31, 2007
The Survey shows fiscal consolidation despite slowdown in growth.
Diesel price should be freed, open market grain purchases should be ended.
ONGC is the country's most profitable PSU.
Inflation is on a declining trend, Eco Survey stated.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
'I realised that if we don't get relief from the government, I'll be faced with the prospect of either starving in Delhi, or starving in my village.'
Finance Minister Arun Jaitley talks to T N Ninan.
The IT sector is confronted with a host of issues.
The IT sector is confronted with a host of issues.
The Economic Survey says, massive efforts are needed in the form of investment in social infrastructure, skill development and empowerment of women.
Rediff.com's data journalists have visualised the National Sample Survey Office (NSS 66th round, July 2009-June 2010 and 68th round, July 2011-June 2012) data into an interactive map.
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The impact the Economic Survey had on the Budget proposals and the influence the Prime Minister wielded on them deserve close attention.
India is ranked 12th in terms of services GDP among the world's top 15 countries, says the Economic Survey.
China's average GDP growth rate for the 1979-2004 period was on Monday revised to an impressive 9.6 per cent, 0.2 percentage point higher than the original figure in accordance with the first national economic survey.
The government has retained Arvind Subramanian as its chief economic advisor, unlike other American professors Dr Raghuram Rajan and Arvind Panagariya, who quit their jobs as RBI governor and NITI deputy chairman respectively.
Rediff.com's data journalists have broken down the National Sample Survey Office 68 round (July 2011- June 2012) report data into a state-wise listing.
Without accounting for refunds, however, the collection contracted 5.4 per cent, indicating muted economic activity as the Covid-19 pandemic and subsequent curbs paralysed most sectors.
There are few concerns in India's growth story.
The Reserve Bank of India (RBI) on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
Rediff.com's data journalists have visualised the National Sample Survey Office (NSS 68th round, July 2011-June 2012) data into a interactive map.
Rediff.com's data journalists have broken down the National Sample Survey Office 68 round (July 2011- June 2012) report data into a state-wise listing.
India has already become 7th largest economy of the world, he said, adding that it is expected to become 5th largest economy soon.
A day before the announcement of the Union Budget for 2004-05, the Economic Survey called for "overhauling" the tax exemption regime saying low Tax:GDP ratio was a prime concern and it was coming in the way of improving government finances.
In a few hours the Government of India will table the Economic Survey for fiscal 2003-04. Economic Survey is always presented a day before the Annual Budget is announced by the Finance Minister. Take the Rediff Business Quiz and find out how much you
A cross-country comparison shows that India currently has the lowest number of taxpayers.
It is important to increase employment in general. It is even better to increase good quality jobs. Strategically, it is important to move people from farms to factories to improve overall labour productivity. It is important to improve job opportunities for women, for urbanites and for the educated. The Budget does not contain ideas to do any of this, points out Mahesh Vyas.
Over the next five years, it will be Narendra not Nitish who will be under pressure to deliver vikas and atmanirbharta in Bihar, notes Kanika Datta.
While the Reserve Bank and the Economic Survey of the finance ministry have projected India to grow at 6.9 per cent and 6.5 per cent in current fiscal, the International Monetary Fund estimates it to be 6.6 per cent.
The government further defended its move to introduce fixed-term employment, insisting that the present system of hiring workers through contractors is exploitative.
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