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 most striking features of this Budget was its focus on simplification and improving the ease of doing business in India, asserts Kaku Nakhate.
'Mamata needs to address the anger and resentment among various sections of the Hindu community because low-scale communal violence has always paid richer electoral dividends for the BJP.'
It noted that the economy underwent a transition -- possibly, structural and permanent -- from high to low inflation in the last three years.
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.
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.
Three years after the government brought in a SEZ law promising greater economic activity on the back of tax sops, the Economic Survey on Thursday expressed concern over 'proliferation' of Special Economic Zones seeking a check on them.
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.
The Indian economy could remain less affected by global trade wars than other countries because the two engines of domestic growth - consumption and investment - are likely to face a limited impact from such headwinds, according to an article on the 'State of the Economy' in the Reserve Bank of India's (RBI's) bulletin, released on Tuesday.
The message from Sunday's event will undoubtedly reverberate globally. It's a landmark occasion that will be remembered for generations and will inspire many other states to introduce the story of Rajendra Chola into school curricula, says Tarun Vijay.
Adarsh Kumar, the son of a farmer and a Class 12 student from rural Bihar, is on a mission to build one of India's largest free skill development movements, powered only with a laptop, free Internet and his relentless determination.
Outlook for external sector is the most favourable.
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.
Last year, the Survey suggested a long list of reforms, but most of these found no place in the Budget.
'Not paying workers enough will end up being self-destructive or harmful for the corporate sector itself.'
The United States State Department has authorised a Foreign Military Sales (FMS) case for Turkiye to purchase AIM-120C-8 Advanced Medium-Range Air-to-Air Missiles and related elements of logistics and program support for an estimated cost of $22 million.
The top three industries in India susceptible to economic crimes are financial services, manufacturing and professional services
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.
India is not "rethinking" supporting investments from China, said Commerce and Industry Minister Piyush Goyal on Tuesday, referring to a proposal made in the Economic Survey 2024. The survey by India's chief economic advisor last week said India had two "choices" to benefit from the so-called China plus one strategy, either by integrating into that country's supply chain or by promoting foreign direct investment (FDI). "Chief economic advisor's report speaks about new ideas and gives out their own thinking. It is not at all binding on the government and there is no rethinking to support Chinese investments in the country," Goyal told reporters in Delhi.
A lot of the 100-day programmes would be 'milestone-based' with timelines for achieving targets for social-sector schemes.
Following are the highlights of the Economic Survey 2022-23 tabled in Parliament on Tuesday
New simplified law should be put in place to replace the over four-decade old Income Tax Act and streamline the direct taxation structure, the Economic Survey said.
Economic Survey which was tabled in the Parliament on Wednesday projects 6.1 to 6.7 per cent growth rate for 2013-14.
Geopolitical tensions, trade policy uncertainties, volatility in international commodity prices and financial market uncertainties pose considerable risks to India's economic growth in the coming year, the finance ministry cautioned on Wednesday. "Global trade continues to be affected by uncertainty in the policy environment... tariff-related developments in multiple countries have heightened trade-related risks, affecting investment and trade flows globally.
India's Parliament is set to begin its Budget session on Friday, with opposition parties poised to demand a discussion on the alleged mismanagement of the Maha Kumbh festival in Prayagraj, where 30 pilgrims died in a stampede. The opposition also accused the government of politicising parliamentary committees and pushing its agenda through its majority. The session will start with President Droupadi Murmu addressing both houses of Parliament. Finance Minister Nirmala Sitharaman will present the Union Budget on Saturday for the eighth consecutive time.
The economic survey for 2020-21 has suggested revision in the weightage of food items to gauge the true picture of inflation in the country, and said new sources of price data also need to be incorporated in the wake of increasing retail e-commerce transactions. As per the survey, the current spike in consumer price-based retail inflation of food prices is mainly a supply-side phenomenon. The survey noted that the weights of all items in retail inflation are based on the NSO household consumption expenditure survey of 2011-12, adding the weight of food items in the index might have significantly decreased over the decade since then.
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.
'There were deep discussions within the Sangh Parivar before this decision was made.' 'They were convinced, and only then did the Modi government proceed with the caste census.'
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
India's manufacturing sector growth started the year 2025 on a strong footing and touched a six-month high in January, fuelled by the steepest upturn in exports in nearly 14 years, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from December's one-year low of 56.4 to 57.7 in January supported by the fastest upturn in new export orders since February 2011.
The BJP's surprise announcement of a caste census in the next census has sparked political debate, particularly in Bihar where the issue of backward empowerment holds significant electoral weight. The move is seen as a strategic maneuver by the ruling party to counter opposition efforts to mobilize support among disadvantaged sections of society. The decision is also viewed as a recognition of the growing influence of OBC politics in India.
'Three manufacturing sectors can create jobs by the million: Apparel, food, and electronic assembly.' 'Let's talk to them and ask them what it would take to scale by a factor of ten,' suggests Naushad Forbes.
India is among the three least-favoured Asian stock markets, according to BofA Securities whose survey found that 10 per cent of fund managers are underweight on Indian equities from a 12-month perspective.
Making a case for reforms in the pension sector, the Economic Survey 2010-11 on Friday said the Parliament should expeditiously clear the long pending PFRDA Bill.
These ID cards would form the base of a multi-application smart cards system that can be used to empower the poor and ensure that they get full benefit of all programmes such as NREGA, PDS, biblically provided education, skill development, heath services, social security and fertiliser subsidy etc, it added.
The villagers, prompted by anti-Posco brigade, opposed the household survey in the village stating that the scope of the survey should only include the government land and not the private land.
The share of rent in consumption expenditure has risen to 6.58%, according to the Household Consumption Expenditure Survey 2023-2024. This is the highest it has been in surveys going back to the turn of the millennium.
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.
It is high time that petrol and diesel prices were decontrolled taking advantage of low inflation and global crude prices, the Economic Survey said, while criticising the government for its "imperfect" handling of oil price hike.
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.
