News

India’s electricity grid is among world’s largest: Economic Survey India’s power transmission system is emerging as one of the largest unified electricity grids in the world with the inter-regional capability of transferring 1,18,740 megawatts (MW) on one frequency, according to the Economic Survey 2023-24 tabled in the Parliament on Monday.  Until March 31, 2024, transmission systems expanded to 4,85,544 circuit km of transmission lines and 12,51,080 mega volt amp (MVA) of transformation capacity, the Survey noted. The government has accele...
India’s electricity grid is among world’s largest: Economic Survey
India’s electricity grid is among world’s largest: Economic Survey
Source: IANS
2024-07-23 09:42:41 am
2.63 crore houses built for rural poor in last 9 years: Economic Survey As many as 2.63 crore houses have been constructed for the poor in the last nine years under the Pradhan Mantri Gramin Awas Yojana, according to the Economic Survey released on Monday.  “The quality of life in the rural areas has progressed in terms of basic amenities, education, health, and financial inclusion. In terms of basic amenities, 11.57 crore toilets were constructed under the Swachh Bharat Mission - Grameen, while 11.7 crore households were provided with tap water con...
2.63 crore houses built for rural poor in last 9 years: Economic Survey
2.63 crore houses built for rural poor in last 9 years: Economic Survey
Source: IANS
2024-07-23 09:30:24 am
Economic Survey: Non-farm sectors to play important role in job generation  The Economic Survey 2023-24 has brought out the importance of non-farm sectors in the growth trajectory of the Indian economy.   The farm sector always remains high on the political agenda for obvious reasons and hence the non-farm sector often has to take a back seat. However, the Economic Survey 2023-24 notes that the Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce. The Surve...
Economic Survey: Non-farm sectors to play important role in job generation
Economic Survey: Non-farm sectors to play important role in job generation
Source: IANS
2024-07-23 09:05:54 am
India needs to have gradual evolution of financial market: Economic Survey Stressing that enhanced participation of retail investors in the Indian capital market lends stability to it, the Economic Survey 2023-2024 said on Monday that India needs to have an orderly and gradual evolution of the financial market.  Commodity derivatives turnover rose by 87 per cent in FY24, driven by an increase in turnover of options contracts of the energy segment. The number of unique tax IDs registered on the National Stock Exchange (NSE) rose from 2.7 crore in FY19 to 9.2 ...
India needs to have gradual evolution of financial market: Economic Survey
India needs to have gradual evolution of financial market: Economic Survey
Source: IANS
2024-07-23 08:59:18 am
Creating 78.5 lakh jobs annually till 2030 signals Centre’s resolve: Assocham on Economic Survey Terming the Economic Survey 2023-2024 a 'bold' document, leading industry chamber Assocham on Monday said the way it has emphasised the need for creating 78.5 lakh jobs annually till 2030, signals the government's resolve to leverage the fourth global industrial revolution, taking advantage of new-age technologies like Artificial Intelligence (AI).  Calling the Survey a morale-booster India growth story, projecting 6.5-7 per cent economic expansion for the fiscal 2024-25 s...
Creating 78.5 lakh jobs annually till 2030 signals Centre’s resolve: Assocham on Economic Survey
Creating 78.5 lakh jobs annually till 2030 signals Centre’s resolve: Assocham on Economic Survey
Source: IANS
2024-07-23 08:53:46 am
India's Modi faces delicate balancing act in post-election budget Indian Prime Minister Narendra Modi's first post-election budget on Tuesday will seek to lay out an economic vision that balances fiscal prudence with the expectations of disgruntled voters and the demands of his coalition partners. "This budget will decide the direction of our work for the next five years and this will lay the foundation of fulfilling our objective to make India a developed country by 2047," Modi said on Monday ahead of the budget, due to be presented by Fin...
India's Modi faces delicate balancing act in post-election budget
India's Modi faces delicate balancing act in post-election budget
Source: Reuters
2024-07-23 08:41:28 am
Economic Survey links mental health disorders with 'significant productivity losses'  In a first, the economic impact of mental health was discussed in the Economic Survey 2023-24 tabled by the Union Finance and Corporate Affairs Minister Nirmala Sitharaman in Parliament on Monday.  The Survey talks extensively about mental health, its significance, and implications on policy recommendations. It also associated mental health disorders with "significant productivity losses". It is because the condition leads to "absenteeism, decreased productivit...
Economic Survey links mental health disorders with 'significant productivity losses'
Economic Survey links mental health disorders with 'significant productivity losses'
Source: IANS
2024-07-22 05:59:03 pm
India's GDP growth for FY25 to surpass Economic Survey's forecast: CII The Economic Survey 2023-2024 is positive about the India growth story, and India's GDP growth for FY25 will surpass the forecast and has the potential to reach 8 per cent, Sanjiv Puri, President, Confederation of Indian Industry (CII), said on Monday.  The Economic Survey, tabled by Union Finance Minister Nirmala Sitharaman in the Parliament, projects India’s GDP growth rate at 6.5 to 7 per cent for 2024-25 as it sees the economy on a strong wicket. According to Puri, th...
India's GDP growth for FY25 to surpass Economic Survey's forecast: CII
India's GDP growth for FY25 to surpass Economic Survey's forecast: CII
Source: IANS
2024-07-22 05:56:06 pm
Major allocations likely for six guarantees in Telangana`s full budget The Congress government in Telangana may make substantial allocations of funds for implementation of its six guarantees in its first full-fledged Budget for 2024-25 to be presented in the Assembly on July 25.  Deputy Chief Minister Mallu Bhatti Vikramarka, who also holds the finance portfolio, will be making Budget proposals in accordance with the state government’s priorities. Official sources said the Budget size may be more or less Rs 2.75 lakh crore as was proposed in the...
Major allocations likely for six guarantees in Telangana`s full budget
Major allocations likely for six guarantees in Telangana`s full budget
Source: IANS
2024-07-22 05:29:01 pm
Quote on Economic Survey by Dr. Manoranjan Sharma, Chief Economist- Infomerics Ratings Below the Quote on Economic Survey by  Dr. Manoranjan Sharma, Chief Economist- Infomerics Ratings   India’s GDP growth will be 6.5-7 % in FY 25, with risks evenly balanced. India is well-positioned because of its "Mission Mode" approach to overcoming lingering issues The trade deficit was lower in FY24 than in FY23, and the current account deficit for the year is around 0.7 % of GDP.   “The Indian economy is on a strong wicket and stable foo...
Quote on Economic Survey by Dr. Manoranjan Sharma, Chief Economist- Infomerics Ratings
Quote on Economic Survey by Dr. Manoranjan Sharma, Chief Economist- Infomerics Ratings
Source: Infomerics Ratings
2024-07-22 05:28:26 pm
India made significant progress on climate action: Economic Survey Recognising its position as one of the most climate-vulnerable countries, India has made significant progress on environmental protection, according to the Economic Survey 2023-24, tabled in Parliament on Monday.  The document was tabled by Finance Minister Nirmala Sitharaman, a day ahead of the Union Budget presentation. The Survey showed that the country’s energy needs are expected to grow 2 to 2.5 times by 2047. The country has “successfully reduced the emission i...
India made significant progress on climate action: Economic Survey
India made significant progress on climate action: Economic Survey
Source: IANS
2024-07-22 05:21:03 pm
Quote on Economic Survey by Suman Bannerjee, CIO, Hedonova Below the Quote on  Economic Survey by Suman Bannerjee, CIO, Hedonova   This year's Economic Survey highlights India's robust progress in infrastructure, agriculture, and social sectors while addressing fiscal deficits and global economic uncertainties. Its forecasts stress the necessity for targeted funding and strategic reforms to ensure long-term development and resilience. The survey’s insights are expected to significantly influence policy decisions, he...
Quote on Economic Survey by Suman Bannerjee, CIO, Hedonova
Quote on Economic Survey by Suman Bannerjee, CIO, Hedonova
Source: Hedonova
2024-07-22 05:16:37 pm
Farm sector gets boost as Agri Infra Fund mobilises Rs 73,194 crore: Economic Survey The Agriculture Infrastructure Fund (AIF) launched by the Government to spur growth in the farm sector has succeeded in mobilising an investment of Rs 73194 crore, according to the Economic Survey released on Monday.  In addition, the Government has been implementing the Agriculture Marketing Infrastructure (AMI) to improve the extent of storage infrastructure. As of 30th April 2024, 48357 projects were sanctioned for storage infrastructure with Rs 4570 crore released as subsidy, and ...
Farm sector gets boost as Agri Infra Fund mobilises Rs 73,194 crore: Economic Survey
Farm sector gets boost as Agri Infra Fund mobilises Rs 73,194 crore: Economic Survey
Source: IANS
2024-07-22 05:14:12 pm
Budget 2024: What Karnal residents expect from FM Nirmala Sitharaman With Union Finance Minister Nirmala Sitharaman all set to present the Union Budget for FY 24-25 on Tuesday, the people of Karnal in Haryana have high expectations from the PM Modi-led government.     Sardar Parmindar Singh, a trader from Karnal, said, "As a trader, I want to request the government to provide security and safety to our community. Right now, there is no protection for the traders. If something happens, there is no support from the government. On the other hand...
Budget 2024: What Karnal residents expect from FM Nirmala Sitharaman
Budget 2024: What Karnal residents expect from FM Nirmala Sitharaman
Source: IANS
2024-07-22 05:07:09 pm
Comments on Economic Survey 2023-2024 by Mr Shrey Jain Founder and CEO SAS Online Below the Comments on Economic Survey 2023-2024 by Mr Shrey Jain Founder and CEO SAS Online   Government’s estimate of economic growth at 6.5-7% in FY2025 is in line with the growth estimates of 7% put forward by the International Monetary Fund, and tad below 7.2% estimated by The Reserve Bank of India.  Though this indicates that the government does not anticipate further acceleration of growth in the Indian economy in near future, it does not anticipate a material...
Comments on Economic Survey 2023-2024 by Mr Shrey Jain Founder and CEO SAS Online
Comments on Economic Survey 2023-2024 by Mr Shrey Jain Founder and CEO SAS Online
Source: PR Agency
2024-07-22 05:03:52 pm
Economic Survey lists six key growth areas for ‘Amrit Kaal’ After a fruitful decade of reforms, the government’s focus must turn to bottom-up reform and the strengthening of the plumbing of governance so that the structural reforms of the last decade yield strong, sustainable, balanced and inclusive growth, said the Economic Survey 2023-2024 on Monday.  In the last 10 years, the government pursued big-ticket reforms focused on restoring the health of the economy, elevating the potential growth by relieving supply-side constraints and str...
Economic Survey lists six key growth areas for ‘Amrit Kaal’
Economic Survey lists six key growth areas for ‘Amrit Kaal’
Source: IANS
2024-07-22 04:59:36 pm
India has well-established infra to attract FDI in renewables, telecom: Economic Survey India has a well-established infrastructure to attract foreign direct investment (FDI) in sectors like greenfield projects such as renewables, digital services such as telecommunications, software and hardware, and consultancy services, the Economic Survey 2023-2024 said on Monday.  Over the medium term, India is focusing on integrating its value chain with that of the West, particularly in sectors like renewable energy and advanced technology, including AI, semiconductors, and next-g...
India has well-established infra to attract FDI in renewables, telecom: Economic Survey
India has well-established infra to attract FDI in renewables, telecom: Economic Survey
Source: IANS
2024-07-22 04:54:59 pm
Centre fuelling rapid infra growth but states need to pitch in too: Economic Survey The Economic Survey released on Monday states that buoyant investment by the Centre has played a pivotal role in funding large-scale infrastructure projects in recent years in highways, seaports, railways and airports but the state governments and private sector need to pitch in to accelerate development.   It highlights that National Highways construction increased by three times from 11.7 km per day in FY14 to 34 km per day by FY24 while capital expenditure on Railways has increased...
Centre fuelling rapid infra growth but states need to pitch in too: Economic Survey
Centre fuelling rapid infra growth but states need to pitch in too: Economic Survey
Source: IANS
2024-07-22 03:19:20 pm
Private capex picks up in FY24; spending in transport, railways, defence to boost growth: Economic Survey Increased spending in sectors such as road transport and highways, railways, defence services, and telecommunications will deliver higher and longer impetuses to growth by addressing logistical bottlenecks and expanding productive capacities, the Economic Survey said on Monday.  The government’s capital expenditure for FY24 stood at Rs 9.5 lakh crore, an increase of 28.2 per cent on a YoY basis, and was 2.8 times the level of FY20. The capital expenditure by private companies...
Private capex picks up in FY24; spending in transport, railways, defence to boost growth: Economic Survey
Private capex picks up in FY24; spending in transport, railways, defence to boost growth: Economic Survey
Source: IANS
2024-07-22 03:12:53 pm
India has 26.52 cr students in schools, 4.33 cr in higher education: Economic Survey India has 26.52 crore students in schools and 4.33 crore in higher education institutions, according to the Economic Survey 2023-24, tabled in Parliament on Monday.  The document was tabled by Finance Minister Nirmala Sitharaman, a day ahead of the Union Budget announcement. According to the Survey, India also has “more than 11 crore learners in skilling institutions”. “These sweeping figures put into perspective the enormity of the challenge and the inherent a...
India has 26.52 cr students in schools, 4.33 cr in higher education: Economic Survey
India has 26.52 cr students in schools, 4.33 cr in higher education: Economic Survey
Source: IANS
2024-07-22 02:54:17 pm
Tech like AI to determine economic prosperity of nations, India takes the lead: Economic Survey With artificial intelligence (AI) taking root in several spheres of economic activity, steering technological choices towards collective welfare is the key and employers owe it to themselves to strike a balance between deploying technology and labour, the Economic Survey said on Monday.  New technologies like AI are emerging as the biggest strategic differentiator determining the economic prosperity of nations. The next big step in the coming years is likely to be towards AI/Machin...
Tech like AI to determine economic prosperity of nations, India takes the lead: Economic Survey
Tech like AI to determine economic prosperity of nations, India takes the lead: Economic Survey
Source: IANS
2024-07-22 02:47:36 pm
Tripartite pact of Centre, states & private sector can push growth above 7 pc: Economic Survey The Indian economy can grow at a rate of 7 per cent plus on a sustained basis in the medium term if the country builds on the structural reforms undertaken over the last decade.  This requires a tripartite compact between the Union Government, state governments and the private sector, according to the Economic Survey tabled in Parliament on Monday. Going forward the government’s focus must turn to bottom-up reform and strengthening the plumbing of governance so that the struc...
Tripartite pact of Centre, states & private sector can push growth above 7 pc: Economic Survey
Tripartite pact of Centre, states & private sector can push growth above 7 pc: Economic Survey
Source: IANS
2024-07-22 02:42:44 pm
Economic Survey sees strong external sector despite global headwinds India’s external sector remained strong amidst ongoing geopolitical headwinds as the country’s forex reserves at the end of March 2024 were sufficient to cover more than 10 months of its projected imports for FY25 and 98 per cent of its external debt, according to the Economic Survey released on Monday.  It also points out that India’s rank in the World Bank’s Logistics Performance Index improved by six places, from 44th in 2018 to 38th in 2023, out of 139 coun...
Economic Survey sees strong external sector despite global headwinds
Economic Survey sees strong external sector despite global headwinds
Source: IANS
2024-07-22 02:38:47 pm
Over 34.7 cr Ayushman Bharat cards generated: Economic Survey More than 34.7 crore Ayushman Bharat cards have been generated, said Finance Minister Nirmala Sitharaman on Monday, while tabling the Economic Survey document in Parliament today, a day ahead of the Union Budget announcement. The scheme has also “covered 7.37 crore hospital admissions in India,” said FM Sitharaman. Launched in 2018, the initiative encompasses two primary components: the establishment of Health and Wellness Centers (HWCs) and the implementation of the Pradhan...
Over 34.7 cr Ayushman Bharat cards generated: Economic Survey
Over 34.7 cr Ayushman Bharat cards generated: Economic Survey
Source: IANS
2024-07-22 02:32:49 pm
Unemployment rate declines to 3.2 pc, job & skill creation top priority: Economic Survey The labour market indicators have improved in the last six years, with the unemployment rate declining to 3.2 per cent in 2022-23, the Economic Survey 2023-2024 said on Monday.  India’s workforce is estimated to be nearly 56.5 crore, of which more than 45 per cent are employed in agriculture, 11.4 per cent in manufacturing, 28.9 per cent in services, and 13 per cent in construction. The Indian economy needs to generate nearly 78.51 lakh jobs annually in the non-farm sector to...
Unemployment rate declines to 3.2 pc, job & skill creation top priority: Economic Survey
Unemployment rate declines to 3.2 pc, job & skill creation top priority: Economic Survey
Source: IANS
2024-07-22 02:25:51 pm
Banks, financial sector played stellar role: Economic Survey The Economic Survey released on Monday states that India’s banking and financial sectors have displayed a stellar performance in FY24 in mobilising funds to fuel economic growth with financial inclusion.  “Double-digit and broad-based growth in bank credit, gross and net non-performing assets at multi-year lows, and improvement in bank asset quality highlight the government’s commitment to a healthy and stable banking sector,” according to the survey. It poi...
Banks, financial sector played stellar role: Economic Survey
Banks, financial sector played stellar role: Economic Survey
Source: IANS
2024-07-22 02:12:52 pm
Retail inflation at 5.4 pc in FY24, lowest since pandemic: Economic Survey 2023-24 Timely policy interventions by the government and the Reserve Bank of India’s (RBI) price stability measures helped retail inflation stand at 5.4 per cent -- the lowest since the pandemic, the Economic Survey 2023-2024 said on Monday.  During FY22 and FY23, the Covid-19 pandemic, geopolitical tensions, and supply disruptions contributed to rising inflationary pressures globally. According to the Economic Survey, consumer goods and services faced price hikes in India due to in...
Retail inflation at 5.4 pc in FY24, lowest since pandemic: Economic Survey 2023-24
Retail inflation at 5.4 pc in FY24, lowest since pandemic: Economic Survey 2023-24
Source: IANS
2024-07-22 01:59:27 pm