Telangana's Rythu Bandhu policy is an embryonic UBI, or rather embryonic QUBI (a quasi-universal basic income, pronounced Kyoo-Bee). And it could potentially also be the future of agricultural policy in India, says Arvind Subramanian.
Economic Survey says Services Sector Negotiations at WTO Crucial.
That is what you will hear again after Nirmala Sitharaman presents a speech that will prove to be meaningless and numbers that will show themselves to be wildly off the mark, observes Aakar Patel.
He used an old rule to cut the expenditure allotted to various ministries.
The deficit increased to $ 57.2 billion or 2.1 per cent of gross domestic product (GDP) in 2018-19 as against 1.8 per cent in the previous year.
Pinning hopes on the newly set up Cabinet Committee on Investment (CCI), the Economic Survey today said that specific issues facing the infrastructure sector need to be resolved to revive investment climate and propel sustainable growth.
The headline inflation is expected to decline to 6.2-6.6 per cent in March 2013.
According to the Economic Survey 2012-13, which was tabled by Finance Minister P Chidambaram in Parliament, as far as small retailers are concerned, organised retail already co-exists with small traders and the unorganised retail sector.
But the measures, particularly in agriculture, may not be enough to revive the sector and double the farm income, says S Mahendra Dev.
Farm loan waiver has been presumed to be inflationary. But the short-term consequences are likely to be quite deflationary.
SBI had a bad day, sliding the most by 5.36%. Others that dragged the key indices down were M&M, Reliance Industries and L&T.
Subramanian was the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics and Senior Fellow at the Centre for Global Development in the US before joining the ministry.
Railway Budget will be presented on July 8.
The economy could grow at 6-6.5 per cent this fiscal year (2019-20 or FY20), said Chief Economic Advisor Krishnamurthy Subramanian, revising his earlier estimate of 7 per cent in the Economic Survey. In an interaction with Arup Roychoudhury, he said supply-side measures, including corporation tax cuts, will boost consumption and demand, and non-tax revenue may make up for shortfall in tax revenues.
Against the projection of 12 per cent annual growth in foreign tourist arrivals, 2013 is set to see negligible increase, implying loss of foreign exchange, besides an image dent.
Bulk of the gains projected from direct taxes will come from the surcharge on super-rich.
Making a marginal recovery, India's exports entered the positive zone after a gap of eight months, recording a growth of 0.82 per cent to $25.58 in January.
As a new initiative for promoting highway development, the mode of engineering procurement and construction contracts is being brought in, it said.
Subramanian recommended five ways of financing additional expenditure over a period of one year, including cutting expenditure and borrowing directly from the RBI or monetising debt.
Reserves provide a cushion against shocks.
The civil aviation sector is witnessing a number of initiatives
India ranks lower than most BRICS nations in terms of innovation.
However, risks to the outlook stems from possible sub-normal monsoon and higher crude oil prices (on account of the crisis in Iraq)," the Economic Survey 2013-14 tabled in Parliament by Finance Minister Arun Jaitley said.
India's monstrous public distribution system ensured that the government, and not private players, became a huge hoarder of food grains.
Why is the government ignoring the advice of its own Economic Survey?
The major focus of this year's Economic Survey was on pushing economic growth, which has been projected by the Central Statistical Organisation at 5 per cent for this fiscal, sharply lower than the original estimate of 7.6 per cent (+/- 0.25 per cent).
Notwithstanding marginal growth in employment, there were as many as 28 million unemployed persons in the country in 2009-10.
The drop in growth rate is subsequent to the corporate sector cutting investments by nearly Rs 90,000 crore (Rs 900 billion) in 2011-12 compared to 2010-11, according to the pre-Budget Economic Survey tabled by Finance Minister P Chidambaram in Parliament on Wednesday.
The controversial VVIP chopper scam is set to turn the three-month-long Budget session of Parliament beginning Thursday into a troubled affair for the government with the Opposition raring for an attack eyeing the Lok Sabha polls which are not far away.
In the current fiscal so far, retail inflation stabilised around 5 per cent, while wholesale price-based inflation averaged around 2.9 per cent during April-December.
The fiscal deficit, as per the survey, deteriorated to 5.8 per cent of the GDP as compared to 3.4 per cent for 2018-19 estimated in the interim Budget.
The rupee had lost 23 paise to end at 54.09 in Tuesday's trade due to month-end dollar demand.
The document which was tabled in Parliament by Finance Minister P Chidambaram has projected the growth rate for next fiscal at 6.1-6.7 per cent.
The farm sector achieved 3.6 per cent growth during the 11th Five year Plan (2007-12), falling short of the 4 per cent growth target, although it was much higher than growth of 2.5 and 2.4 per cent during 9th and 10th Plans, it added.
The Economic Survey 2012-13, presented by the Finance Minister P Chidambaram in the Lok Sabha on Wednesday says Indian economy is likely to grow between 6.1% to 6.7% in 2013-14 as the downturn is more or less over and the economy is looking up.
In the face of sluggish domestic demand and global economic slowdown, Bihar has recorded a staggering growth rate of 11.95 per cent rate annually at constant prices during 11th Five Year Plan, the highest among states.
The BJP MLAs -- Vijender Gupta, O P Sharma and Jagdish Pradhan -- were evicted from the House after they trooped to the Well and raised slogans.
These airports are those at Amritsar, Varanasi, Bhubaneswar, Indore, Raipur and Trichy.
'UBI is a tricky subject.' 'Our worry is the government could get rid of UPA's social welfare schemes targeted at the poor.'
'Part A of the Budget was like it was written by somebody from the 21st century and Part B was written by somebody from the 19th century.'
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