Highlights of Economic Survey 2020-21, tabled in Parliament by Finance Minister Nirmala Sitharaman on Friday.
A SAP study reveals that Indian enterprises are rapidly moving from AI experimentation to value-driven implementation, positioning India as a global leader in enterprise AI adoption. Indian organisations plan significant investments in AI, with projected fivefold growth in Agentic AI returns and a high percentage of businesses having defined AI strategies and dedicated AI leaders.
Overall, the Survey warned that unless shifts in the vision of development were articulated and embraced, the Indian economy would lose the chance to move to a high-growth trajectory.
Finance Minister Pranab Mukherjee on Thursday tabled the Economic Survey for 2008-09 that prescribes doing away with cess, surcharges on taxes, including fringe benefit tax, and sweeping refroms in areas like petrol pricing and financial sector.
Uptick in growth projected in second half of current fiscal based on 10 factors including higher FDI flows, build up of demand pressure, positive GST revenue growth
Claiming that the "downturn is more or less over", the pre-Budget Economic Survey today projected an optimistic 6.1 to 6.7 per cent growth in the next fiscal and made a strong call for cutting subsidises.
The Parliamentary Standing Committee on Finance has asked the finance ministry to spell out a clear legal strategy, including options such as a "golden share" or indirect control structures, to maintain strategic oversight in public sector entities if state ownership falls below 51 per cent.
India has established a high-level inter-ministerial body, the AI Governance and Economic Group (AIGEG), to steer the country's national AI governance strategy. The AIGEG will coordinate policy across ministries and oversee cross-sectoral governance issues, supported by a Technology and Policy Expert Committee (TPEC).
The Finance Minister Pranab Mukherjee on Monday tabled the Economic Survey for 2008-09 that prescribes doing away with cess, surcharges on taxes, including Fringe Benefit Tax, and sweeping refroms in areas like petrol pricing and financial sector.
'It will take a long time to recover from the impact of this war.'
Dr Lovi Raj Gupta, pro vice-chancellor, Lovely Professional University, explains how aspiring professionals can equip themselves for a competitive AI-driven job market.
Projecting a 7 per cent growth rate in 2005-06, government's pre-budget Economic Survey on Friday outlined reforms in tax and expenditure and labour laws as a priority in the budget.
Finance Minister Arun Jaitley on Friday tabled the pre-Budget Economic Survey in the Lok Sabha.
Ahead of the Budget 2009-10, the economic survey on Thursday suggested tax cuts and increase in government expenditure as part of another stimulus package to help the economy overcome the global shock.
For the foreseeable future, the most likely outcome remains continuation of the status quo. Taiwan will remain self-governing without formally declaring independence, while China continues to apply sustained pressure short of war, predict Krishnan Srinivasan and Manoj Mohanka.
The Economic Survey was tabled in the Parliament on Friday.
Economic growth projected at 8.1 per cent in 2005-06.\nAgriculture growth at 2.3 per cent.
The robust performance of the Indian economy during the ongoing fiscal is likely to prompt the government to peg GDP growth in the 2011-12 fiscal at 9 per cent, as well as withdraw stimulus measures in the forthcoming Budget.
Benchmark stock indices Sensex and Nifty closed higher on Thursday, helped by a rally in blue-chip Larsen & Toubro and the Economic Survey projecting the GDP growth of 6.8-7.2 per cent for the next fiscal.
Shares of Indian life insurance companies, particularly SBI Life Insurance and Canara HSBC Life Insurance, saw significant declines after the Department of Financial Services (DFS) secretary, M Nagaraju, stated that banks are being asked to avoid exclusive tie-ups with their own insurance subsidiaries and instead remain neutral.
India's unemployment rate reached an 11-month high of 5.5 per cent in May, up from 5.2 per cent in April, according to the National Statistics Office, indicating a softening labour market as labour-force participation also eased.
The Trinamool Congress has launched a sharp attack on the Narendra Modi government over rising fuel prices, economic concerns, and exam irregularities, accusing the Centre of betraying citizens.
The industry today said the Economic Survey has reaffirmed reforms agenda in areas like agriculture, education and skill development but several other risk factors to the growth of the corporate sector has been "glossed over."
Over the past year, the sale of injectable GLP-1 agonists (used to treat type 2 diabetes and obesity) such as Mounjaro, Wegovy and Ozempic have surged a whopping 218 per cent.
The Economic Survey released before next year's Budget could become a single volume, reverting to the practice followed till FY14. "There is so much to write about the Indian economy's performance in the past year. "Most of the exciting themes will be covered in what used to be considered Part II," said a senior government official who is part of the preparations for the Survey.
The Survey adopts an unfettered approach in thinking about the appropriate economic model for India. This endeavour is reflected in the sky blue cover of the Survey, Chief Economic Adviser Krishnamurthy V Subramanian said.
The boundary mess between India and Nepal needs a solution in a manner as mentioned by Nepal's Foreign Minister Shishir Khanal: 'On evidence not emotions', counsels Lieutenant General Shakti Gurung (retd).
Pre-Budget Economic Survey tabled in Parliament.
Recommending an end to all cesses and surcharges on taxes, and free pricing of fertiliser and fuel ahead of the Union Budget for 2009-10, the Economic Survey on Thursday suggested aggressive divestment and financial sector reforms to bring the economy back to high growth track.
As India marks a decade of the Goods and Services Tax (GST), the focus is shifting towards enhancing efficiency through artificial intelligence, data sharing, and process simplification. The reform, which unified India's indirect tax system, has significantly broadened the tax base and boosted revenues, with future plans including a streamlined two-tier rate structure and continued technological integration to reduce compliance costs and combat evasion.
The stock market, the Survey felt, had run away from underlying real economy indicators and asked if this indicated rational confidence or irrational exuberance.
Finance Minister Pranab Mukherjee presented the Economic Survey for 2010-11 in the Lok Sabha.
For the first time, Subramanian said, "the Economic Survey has embraced Big Data, and we mine this data to shed new light on the flow of goods and people within India."
This year's Economic Survey and the Union Budget were more closely followed for more reasons than one.
Tax administration could be improved to reduce discretion and improve accountability
The BJP team under the new national president Nitin Nabin, who took charge in January, is expected to be announced within this month, with sources suggesting that some holding positions in the government may move to the party.
Unlike the Advance Estimates which missed the impact of demonetisation, CEA's survey is likely to have a better take on Indian economy.
Enhanced revenue generation is a priority for the government.
