The stock market, the Survey felt, had run away from underlying real economy indicators and asked if this indicated rational confidence or irrational exuberance.
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."
Finance Minister Pranab Mukherjee presented the Economic Survey for 2010-11 in the Lok Sabha.
India's new national accounts will leverage new data sources and surveys to enhance the measurement of the country's informal economy, and introduce double deflation methods across sectors, replacing the current system that relies on a single deflation mechanism in Gross Domestic Product (GDP) calculations.
Slamming the Budget, senior Congress leader P Chidambaram on Saturday said the Modi government was in complete denial that the economy faces a "grave macro economic challenge" and it has given up on reviving the economy, accelerating growth or creating jobs. There is nothing in the Budget that leads one to believe that growth will revive in 2020-21 and the claim of 6 to 6.5 per cent growth next year is "astonishing and even irresponsible", the former finance minister said at a press conference.
Tax administration could be improved to reduce discretion and improve accountability
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Unlike the Advance Estimates which missed the impact of demonetisation, CEA's survey is likely to have a better take on Indian economy.
India's demographic advantage and diverse economic landscape position it uniquely to benefit from AI, the Economic Survey for 2024-25 tabled in the Parliament on Friday afternoon asserted. However, achieving these benefits requires significant investments in education and workforce skilling, supported by enabling, insuring, and stewarding institutions, the state of the economy report tabled by Finance Minister Nirmala Sitharaman said.
Enhanced revenue generation is a priority for the government.
India needs to create buffers for future economic downturns.
'Previously, contributing only 25 per cent of material costs, states now face burdens of 40 per cent to 100 per cent of total costs, ensuring poorer states will curb project approvals, directly stifling work demand.'
The report noted that the value of food coupons needs to be indexed to food inflation. Public distribution system is a major initiative of the government to ensure food security for the poor.
Chinese manufacturing prowess and its dominance in the strategic sector will have a bearing on India's growth projection in the medium term and its march to become a developed nation by 2047, the Economic Survey said on Friday. The Survey has said India needs to grow at 8 per cent for about two decades to become a developed nation by 2047, but it will have to face challenges from global developments and reliance on Chinese imports.
Sensex firm on favourable GDP numbers for FY16.
Amid a debate over 70-90-hour work week, the pre-Budget Economic Survey on Friday cited studies to state that spending over 60 hours a week on work could have adverse health effects. The survey noted that spending long hours at one's desk is detrimental to mental well-being and individuals who spend 12 or more hours (per day) at a desk have distressed or struggling levels of mental well-being.
A day before the Budget, the Economic Survey on Thursday predicted up to 8.75 per cent growth in 2010-11 while recommending a gradual roll back of stimulus -- a move that could entail hike in excise duty and service tax.This is what the Economic Survey 2009-10 says!
Diesel price needs to be revised upward, or subjected to higher taxes, as misuse of subsidized diesel was adding to pollution and public health costs, the government's pre-budget economic report card said on Thursday.
Diesel price needs to be revised upward, or subjected to higher taxes, as misuse of subsidized diesel was adding to pollution and public health costs, the government's pre-budget economic report card said on Thursday.
Beti Bachao Beti Padhao is for protection and education of girl child
Steps to be taken to achieve 7-8 per cent GDP growth.\n\nExpanding industry fast, by at least 10 per cent.
After tabling the Survey, Jaitley told reporters that fiscal deficit for the current year will be 4.5 per cent which needs to go down further in the next two years.
A higher level of private sector financing and resource mobilisation from new sources will be crucial for India to build quality infrastructure, according to the Economic Survey 2023-24. The Economic Survey 2023-24 was tabled in Parliament by Finance Minister Nirmala Sitharaman on Monday.
The government's annual Economic Survey on Friday strongly defended new farm laws, saying they herald a new era of market freedom which can go a long way in improving lives of small and marginal farmers in India. These legislations were designed "primarily" for the benefit of "small and marginal farmers", which constitute around 85 per cent of the total number of farmers and are the biggest sufferer of the "regressive" APMC-regulated market regime, the survey said. The pre-budget document defended the farm laws in the backdrop of long-running farmers' agitation at various borders of the national capital seeking repeal of these legislations expressing concern that they are pro-corporate and could weaken government regulated mandis, also called Agriculture Produce Marketing Committees (APMCs).
The Indian economy recorded a six-quarter high growth of 8.2 per cent in July-September, as factories churned out more products in anticipation of a consumption boost from the GST rate cut, according to government data.
The Survey also said that the borrowings by banks have increased significantly.
Investor sentiment across Asian markets has shifted sharply in August, reveals the latest Bank of America (BofA) Fund Manager Survey, which found global growth expectations retreating after three months of improvement.
The Economic Survey 2022-23 (FY23), to be presented a day before Union Budget 2023-24 (FY24), is likely to project India's real gross domestic product (GDP) growth between 6 per cent and 7 per cent for FY24, Business Standard has learnt. The broader theme of the Survey could be on how India has dealt with two years of a global pandemic and the ongoing geopolitical disturbance, the strengths and weaknesses that emerged, and what lessons may be learnt. The much-awaited Survey will be the first one by Chief Economic Advisor V Anantha Nageswaran and his team in the finance ministry's economic division.
'This will split the Marathi and Shiv Sena vote.' 'The BJP has conducted 3 surveys indicating they shall secure 109 seats in the BMC.' 'They do not wish for the Shinde Sena to demonstrate excessive strength in the BMC.' 'If the Thackerays secure 60-70 seats, that will affect Shinde's seats.'
India's economy is projected to grow between 6.3 per cent and 6.8 per cent in FY26, according to the Economic Survey 2024-25, tabled in Parliament on Friday. The survey highlights that the country's economic fundamentals remain strong, supported by a stable external account, fiscal consolidation, and private consumption. It noted that the government plans to strengthen long-term industrial growth by focusing on research and development (R&D), micro, small, and medium enterprises (MSMEs), and capital goods.
'Indian startups have raised $3.5 billion in funding in the first half of 2015'.
The best way for India to prepare is by preserving and strengthening the RBI's hard-won credibility, point out Rajeswari Sengupta and Vaishali Garga.
The Union Cabinet on Friday approved Rs 11,718 crore for conducting the Census of India, 2027, which would include the caste enumeration for the first time.
Suggesting a rebound, the government has projected the economy to grow by about 7.6 per cent in the next fiscal, up from 6.9 per cent estimated in 2011-12 on the back of declining inflation and softening interest rate.
A barrier-free market -- coupled with removal of controls, licensing system, intermediaries and state-imposed levies on farm commodities -- will benefit both sellers and buyers.
About 10.5 million new jobs were created between 1989 and 2010.
"Draft of the policy was circulated in 2011 for consultation with various stakeholders. Views/comments from these stakeholders have been received and the same are under consideration. NTP is likely to be in place by June 2012," the Survey said.
The job market has emerged unscathed from a slowdown in the economic growth rate and the country has maintained an upward trend in hiring activities continuously for about three years, the Economic Survey 2011-12 said on Thursday.
In which countries are trust levels in the government highest? The results of the Edelman Trust Barometer, based on a survey done in 2024, might surprise you.
If he cannot do it this term by using his bureaucracy and experts from different fields, it will be a tragedy, asserts Ramesh Menon.
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