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Andhra Pradesh posts 16.22% growth rate in 2022-23 Andhra Pradesh has registered an economic growth of 16.22 per cent during 2022-23, says Socio-Economic Survey of the state. In 2022-23, as per Advance Estimates, AP State posted a growth of 16.22 per cent over the previous year, according to the report released by Chief Minister Y.S. Jagan Mohan Reddy on Wednesday GSDP at current Prices for the year 2022-23 (AE) is estimated at Rs 13,17,728 crore as against Rs.11,33,837 crore for the year 2021-22 (FRE). There was a net addition of Rs.1,...
Andhra Pradesh posts 16.22% growth rate in 2022-23
Andhra Pradesh posts 16.22% growth rate in 2022-23
Source: IANS
16/03/2023 9:02:55 AM
India bats for sovereign rating upgrade in review with global agencies  India is seeking an upgrade to its sovereign credit rating, currently at the lowest-possible investment grade, as the Asian nation believes its economic metrics have improved considerably since the pandemic, a senior government official said on Monday. The country's federal finance ministry met representatives from the top three rating agencies–Fitch Ratings, Moody’s Investors Service and S&P Global Ratings–after the government presented its annual budget on...
India bats for sovereign rating upgrade in review with global agencies
India bats for sovereign rating upgrade in review with global agencies
Source: Reuters
13/03/2023 3:57:04 PM
Network Planning Group recommends 63 infra projects The Network Planning Group (NPG) under PM GatiShakti has so far recommended 63 infrastructure projects on the principles of PM GatiShakti. Minister of State, Commerce and Industry, Som Parkash, in reply to a parliamentary question on Wednesday, said that PM GatiShakti National Master Plan (NMP) is a transformative approach for integrated and holistic planning across all concerned ministries and departments. This was launched in October 2021 with the objectives of holistically integratin...
Network Planning Group recommends 63 infra projects
Network Planning Group recommends 63 infra projects
Source: IANS
9/02/2023 10:40:29 AM
EVs to get cheaper, Centre proposes customs duty exemption on batteries  The Central government on Wednesday said that to further provide impetus to green mobility, customs duty exemption is being extended to the import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles -- a move hailed by the EV industry players. Finance Minister Nirmala Sitharaman in her Union Budget 2023-24 speech said that the subsidies on EV batteries will be extended for one more year, hence making EVs cheaper in the ...
EVs to get cheaper, Centre proposes customs duty exemption on batteries
EVs to get cheaper, Centre proposes customs duty exemption on batteries
Source: IANS
1/02/2023 3:18:33 PM
Finance Minister Nirmala Sitharaman initiative to boost lab-grown diamond sector brings cheer to Surat industry Finance Minister Nirmala Sitharaman's announcement of cutting import duty on raw material for lab-grown diamond seeds has boosted the morale of the industry. "This will not only grow the sector parallel to the real diamond sector, but will provide huge domestic employment," said Vijay Mangukiya, Regional Chairman of the Gems and Jewellery Promotion Council (GPEC) Mangukiya told IANS, "At present the lab grown diamond sectors' share is just 1 to 2 per cent of the o...
Finance Minister Nirmala Sitharaman initiative to boost lab-grown diamond sector brings cheer to Surat industry
Finance Minister Nirmala Sitharaman initiative to boost lab-grown diamond sector brings cheer to Surat industry
Source: IANS
1/02/2023 3:04:09 PM
Economic growth to slide to 7% in 2022-23 against 8.7% in 2021-22: Fiscal policy statement Economic growth is expected to slide in the current fiscal, even as India is among the bright spots in the prevailing global scenario marred by fluid geopolitical circumstances, as per the Fiscal Policy statement presented by Finance Minister Nirmala Sitharaman along with the Union Budget on Wednesday. Nominal GDP is expected to grow at 15.4 per cent year-on-year in 2022-23 as against 19.5 per cent in 2021-22, while the real GDP is projected to grow by 7 per cent in the current fiscal year...
Economic growth to slide to 7% in 2022-23 against 8.7% in 2021-22: Fiscal policy statement
Economic growth to slide to 7% in 2022-23 against 8.7% in 2021-22: Fiscal policy statement
Source: IANS
1/02/2023 2:16:51 PM
India will set up 100 5G labs to develop new apps, services With the 5G roll-out now gaining momentum in India, the Centre on Wednesday announced to set up 100 labs in the top engineering institutions to develop 5G apps and services. India rolled out 5G services in October last year and several hundred cities and towns now have 5G services, courtesy Reliance Jio and Bharti Airtel. "To realise new opportunities, business models and employment potential, the 5G labs will cover applications such as smart classrooms, precision farming, intellig...
India will set up 100 5G labs to develop new apps, services
India will set up 100 5G labs to develop new apps, services
Source: IANS
1/02/2023 1:32:25 PM
Karnataka Chief Minister Basavaraj Bommai thanks PM Modi for announcing Rs 5,300 cr funds for Upper Bhadra project  Karnataka Chief Minister Basavaraj Bommai on Wednesday thanked Prime Minister Narendra Modi for announcing Rs 5,300 crore funds for the Upper Bhadra project of the state in the Union Budget 2023. CM Bommai said that Union Finance Minister Nirmala Sitharaman has given priority for the drought prone regions of the state in the 2023-24 Budget. "The Central government has announced Rs 5,300 crore for one of the major projects of the state," he said. "I thank Prime Minis...
Karnataka Chief Minister Basavaraj Bommai thanks PM Modi for announcing Rs 5,300 cr funds for Upper Bhadra project
Karnataka Chief Minister Basavaraj Bommai thanks PM Modi for announcing Rs 5,300 cr funds for Upper Bhadra project
Source: IANS
1/02/2023 1:09:22 PM
Budget Relief: No tax for income up to Rs 7L in new tax regime The income in personal income tax is expected to raise disposable incomes and transition the taxpayers to the new tax regime. Suman Chowdhury, Executive Director & Chief Analytical Officer, Acuite Ratings & Research said, "The rationalization of the personal income tax structure is expected to lead to two things (i) raise disposable incomes for the middle class and particularly younger taxpayers (ii) transition the taxpayers to the new tax regime with minimal exemptions and lo...
Budget Relief: No tax for income up to Rs 7L in new tax regime
Budget Relief: No tax for income up to Rs 7L in new tax regime
Source: IANS
1/02/2023 1:07:16 PM
Reduction in customs duty rates on goods To promote exports and enhance domestic manufacturing, Finance Minister Nirmala Sitharaman during her Budget speech on Wednesday announced a reduction in customs duty rates on various commodities and products. FM Sitharaman proposed a reduction in the number of customs duty rates on goods except for textiles, from 21 to 13. She also added that the government will also continue concessional duties on lithium ions cells for batteries for one more year. "There are minor changes in ces...
Reduction in customs duty rates on goods
Reduction in customs duty rates on goods
Source: IANS
1/02/2023 1:03:35 PM
Union Budget sets capex outlay at all-time high The total capex outlay in the Union Budget for 2023-24 has been enhanced by 33 per cent from Rs 7.5 lakh crore to Rs 10 lakh crore which takes it to an all-time high of 3 per cent of GDP. Finance Minister Nirmala Sitharaman announced in her Budget speech that capital investment outlay is being increased steeply for the third year in a row by 33 per cent to Rs 10 lakh crore, which would be 3.3 per cent of GDP. This will be almost three times the outlay in 2019-20. This substantial increa...
Union Budget sets capex outlay at all-time high
Union Budget sets capex outlay at all-time high
Source: IANS
1/02/2023 1:00:33 PM
India to set up data embassies for digital continuity with world: FM Nirmala Sitharaman  Finance Minister Nirmala Sitharaman on Wednesday announced that the government will set up Data Embassies in the country to facilitate seamless digital transfers and continuity for other nations. Data embassies create a new approach to securing data by leveraging diplomatic agreements bolstered by cloud technology solutions. A data embassy is a solution implemented by nation states to ensure a country's digital continuity with particular respect to critical databases. "...
India to set up data embassies for digital continuity with world: FM Nirmala Sitharaman
India to set up data embassies for digital continuity with world: FM Nirmala Sitharaman
Source: IANS
1/02/2023 12:56:08 PM
Government fixes fiscal deficit target at 5.9% of GDP Finance Minister Nirmala Sitharaman on Wednesday set the fiscal deficit target for 2023-24 at 5.9 per cent of the GDP, while emphasising that the government is committed to bring it below the 5 per cent-mark by 2025-26. In her Budget speech, Sitharaman said that in 2021-22, she had announced that the government would continue on its path of fiscal consolidation and would strive to bring fiscal deficit below 5 per cent of the GDP by 2025-26. Fiscal deficit is the difference between total...
Government fixes fiscal deficit target at 5.9% of GDP
Government fixes fiscal deficit target at 5.9% of GDP
Source: IANS
1/02/2023 12:52:29 PM
Union Budget 2023-24: Big announcements Finance Minister Nirmala Sitharaman made several announcements in the Union Budget 2023-2024 on Wednesday. Some highlights of the Budget: * Railways get Rs 2.4 lakh crore, which is the highest ever allocation to it * Agricultural credit target increased to Rs 20 lakh crore * Mobility Infra -- 50 additional airports, heliports * 50 destinations to be selected through challenge mode for tourism * Mahila Samman Savings Certificate will be made available for two years, deposits ...
Union Budget 2023-24: Big announcements
Union Budget 2023-24: Big announcements
Source: IANS
1/02/2023 12:49:48 PM
Youth Empowerment: PMKVY 4.0 to be launched, 30 Skill IICs to be set up: Budget 2023 Aiming to empower youth and help them realise their dreams, PMKVY 4.0 will be launched to skill lakhs of youths within the next 3 years, Union Finance Minister Nirmala Sitharaman announced in her Budget speech on Wednesday. She said that the government will launch Prime Minister Kaushal Vikas Yojana 4.0 (PMKVY 4.0) to skill youth over the period of next three years. "To empower youth and help them realise their dream, PMKVY 4.0 will be launched to skill lakhs of youths within the n...
Youth Empowerment: PMKVY 4.0 to be launched, 30 Skill IICs to be set up: Budget 2023
Youth Empowerment: PMKVY 4.0 to be launched, 30 Skill IICs to be set up: Budget 2023
Source: IANS
1/02/2023 12:49:24 PM
Programme to eliminate sickle cell anaemia by 2047 to be launched: Finance Minister Nirmala Sitharaman The government will launch a programme in a mission mode to eliminate sickle cell anaemia by 2047, announced Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023-24 in the Parliament on Wednesday. "A mission to eliminate sickle cell anaemia by 2047 will be launched that will entail awarness creation, universal screening of 7 crore people in age group of 0-40 years in affected tribal areas, and counselling through collaborative efforts of central ministries and st...
Programme to eliminate sickle cell anaemia by 2047 to be launched: Finance Minister Nirmala Sitharaman
Programme to eliminate sickle cell anaemia by 2047 to be launched: Finance Minister Nirmala Sitharaman
Source: IANS
1/02/2023 12:47:05 PM
Programme to eliminate sickle cell anaemia by 2047 to be launched: Finance Minister Nirmala Sitharaman The government will launch a programme in a mission mode to eliminate sickle cell anaemia by 2047, announced Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023-24 in the Parliament on Wednesday. "A mission to eliminate sickle cell anaemia by 2047 will be launched that will entail awarness creation, universal screening of 7 crore people in age group of 0-40 years in affected tribal areas, and counselling through collaborative efforts of central ministries and st...
Programme to eliminate sickle cell anaemia by 2047 to be launched: Finance Minister Nirmala Sitharaman
Programme to eliminate sickle cell anaemia by 2047 to be launched: Finance Minister Nirmala Sitharaman
Source: IANS
1/02/2023 12:32:56 PM
50 more tourism destinations to be developed: FM Niramala Sithraman  Talking about tourism in India, this year's Union Budget (2023-24) for the tourism sector promises to hold huge opportunities for jobs and entrepreneurship. While presenting the Budget on Wednesday, Finance Minister Niramal Sithraman said that the promotion of tourism will be taken up on mission mode with the active participation of states' convergence of government programmes and public-private partnerships. States will be encouraged to set up a 'Unity Mall' in th...
50 more tourism destinations to be developed: FM Niramala Sithraman
50 more tourism destinations to be developed: FM Niramala Sithraman
Source: IANS
1/02/2023 12:30:44 PM
`Budget did not disappoint on increased public capex` The Budget 2023-24 is not disappointing regarding the commitment to public capital expenditure by the government, said a senior official of Acuite Ratings & Research. "The market was expecting a further commitment to public capital expenditure from the government and it has not disappointed. "The total capex (capital expenditure) outlay in the Union Budget has been enhanced by 33 per cent from Rs.7.5 lakh crore to Rs 10 lakh crore which takes it to an all-time high of 3 pe...
`Budget did not disappoint on increased public capex`
`Budget did not disappoint on increased public capex`
Source: IANS
1/02/2023 12:27:09 PM
50 additional airports, water aerodromes & heliports to be built: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Wednesday announced that 50 additional airports, water aerodromes and heliports would be set up for improving regional air-connectivity. She made this announcement while presenting the Union Budget for 2023-24. This move is expected to further push the ongoing UDAN scheme which aims to improve regional connectivity across the country. "50 additional airports, aerodromes and helipads as well as water routes would be built to enhance connecti...
50 additional airports, water aerodromes & heliports to be built: FM Nirmala Sitharaman
50 additional airports, water aerodromes & heliports to be built: FM Nirmala Sitharaman
Source: IANS
1/02/2023 12:24:37 PM
47.8 crore Jan Dhan accounts opened: FM Nirmala Sitharaman While presenting the Union Budget 2023-24 in Parliament on Wednesday, Union Finance Minister Nirmala Sitharaman said 47.8 crore Jan Dhan accounts have been opened across the country so far. Sitharaman said the National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh self help groups (SHGs). Launched in 2014, the Pradhan Mantri Jan Dhan Yojana (PMJDY) is the national mission for financial inclusion to ensure access to financial services -- s...
47.8 crore Jan Dhan accounts opened: FM Nirmala Sitharaman
47.8 crore Jan Dhan accounts opened: FM Nirmala Sitharaman
Source: IANS
1/02/2023 12:23:03 PM
Union Budget 2023-24: Finance Minister Nirmala Sitharaman announces 15,000 cr development fund for tribal, marginalised section The Centre has launched a 15,000 crore development fund for the tribal and marginalised section, Finance Minister Nirmala Sitharaman announced on Wednesday. "Pradhan Mantri PVTG(particularly vulnerable tribal groups) Development Mission is being launched to improve the socio-economic condition of the vulnerable groups. A total of Rs 15,000 crore will be made available to implement the scheme in the next three years." the FM announced in her Union Budget 2023 speech. The specia...
Union Budget 2023-24: Finance Minister Nirmala Sitharaman announces 15,000 cr development fund for tribal, marginalised section
Union Budget 2023-24: Finance Minister Nirmala Sitharaman announces 15,000 cr development fund for tribal, marginalised section
Source: IANS
1/02/2023 12:18:03 PM
Budget 23-24: Railways gets Rs 2.40L cr capital outlay, the highest ever  Indian Railways received a major boost from the Union Budget 2023-24 being presented by Union Finance Minister Nirmala Sitharaman in the Parliament on Wednesday. The Finance Minister in her Budget speech announced that Indian Railways will get a capital outlay of Rs 2.40 lakh crore, the highest ever till date, which will help roll out major projects, including new Vande Bharat trains, electrification of railway lines and others. The Railways is likely to roll out 75 Vende Bharat t...
Budget 23-24: Railways gets Rs 2.40L cr capital outlay, the highest ever
Budget 23-24: Railways gets Rs 2.40L cr capital outlay, the highest ever
Source: IANS
1/02/2023 12:14:34 PM
Three centres of excellences on AI soon at top educational institutions: FM In the ChatGPT era, Finance Minister Nirmala Sitharaman on Wednesday announced the government will open three centres of excellence for artificial intelligence (AI) at top educational institutions. Presenting the Union Budget for FY24, the minister said that the aim is to fully realise the mission of 'Make AI in India'. "For realising the vision of 'Make AI in India' and 'Make AI Work for India', three Centres of Excellence for Artificial Intelligence will b...
Three centres of excellences on AI soon at top educational institutions: FM
Three centres of excellences on AI soon at top educational institutions: FM
Source: IANS
1/02/2023 12:13:26 PM
Pradhan Mantri Aawas Yojana outlay hiked by 66% to Rs 79,000 cr Finance Minister Nirmala Sitharaman on Wednesday announced a 66 per cent hike in the outlay for the Pradhan Mantri Aawas Yojana (PMAY) to Rs 79,000 crore. The scheme envisages providing houses for rural as well as urban poor and the massive hike in its outlay holds significance keeping in mind the fact that this is the last proper Budget of the NDA government before the 2024 Lok Sabha elections. Also as many as nine states go to polls this year. Meanwhile, in her speech while present...
Pradhan Mantri Aawas Yojana outlay hiked by 66% to Rs 79,000 cr
Pradhan Mantri Aawas Yojana outlay hiked by 66% to Rs 79,000 cr
Source: IANS
1/02/2023 11:58:09 AM
Budget to encourage agri-startups by youngsters: FM Nirmala Sitharaman  Agriculture accelerator fund will be set up to encourage agri-startups by young entrepreneurs, Union Finance Minister Nirmala Sitharaman said on Wednesday. While presenting the Budget 2023-24 before the Parliament, the minister said, "Digital public infrastructure of agriculture to be built as open source, opened standard, interoperable public good". She further said that the budget will enable inclusive farmer-centric solutions and help improve access to farm inputs, ma...
Budget to encourage agri-startups by youngsters: FM Nirmala Sitharaman
Budget to encourage agri-startups by youngsters: FM Nirmala Sitharaman
Source: IANS
1/02/2023 11:56:25 AM
India unveils 2023/24 budget to support growth amid fiscal constraints NEW DELHI- The Indian government on Wednesday unveiled the Union budget for fiscal 2023/24 that aims to boost growth amid concerns about the impact of the global slowdown on the Indian economy. The government has lowered its growth estimates for the current fiscal year to 7% from earlier estimates of 8-8.5%. The estimates for the next fiscal year is 6-6.8%, according to the annual economic survey report tabled in parliament on Tuesday. Here are the highlights of the budget: * Finance...
India unveils 2023/24 budget to support growth amid fiscal constraints
India unveils 2023/24 budget to support growth amid fiscal constraints
Source: Reuters
1/02/2023 11:25:13 AM
Economic Survey is resilience demonstrated by the Indian economy amid challenges posed by geopolitical events in this period Says Vivek Rathi, Knight Frank India Below is Perspective on Econmic Survey By Mr. Vivek Rathi, Director Research, Knight Frank India “The theme of Economic Survey is resilience demonstrated by the Indian economy amid challenges posed by geopolitical events in this period. At 7% GDP growth in FY23 and 6-6.8% growth in FY24, India will continue to hold its fastest growing large nation tag. This will create tailwinds for the Indian economy as global capital and technology finds India a bright spot to participate...
Economic Survey is resilience demonstrated by the Indian economy amid challenges posed by geopolitical events in this period Says Vivek Rathi, Knight Frank India
Economic Survey is resilience demonstrated by the Indian economy amid challenges posed by geopolitical events in this period Says Vivek Rathi, Knight Frank India
Source: Knight Frank
1/02/2023 10:52:18 AM
The Ecosurvey depicts a positive picture about the economy ahead Says Madhavi Arora, Emkay Global Financial Services Perspective on Economic Survey by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services “The Ecosurvey depicts a positive picture about the economy ahead, hoping that the growth trajectory will be supported by multiple structural reforms taken over the years, and better economic health of corporates and banks balancesheets, helped by healthy public sector capex. The hope is that all of it should help in starting a new private sector capital formation cycle – signs ...
The Ecosurvey depicts a positive picture about the economy ahead Says Madhavi Arora, Emkay Global Financial Services
The Ecosurvey depicts a positive picture about the economy ahead Says Madhavi Arora, Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
1/02/2023 10:42:34 AM
India one of the fastest-growing insurance markets in the world: Economic Survey India is one of the fastest-growing insurance markets in the world and is expected to emerge as one of the top six insurance markets by 2032, according to the Economic Survey 2022-23 that was presented in the Parliament on Tuesday. Digitisation of India's insurance market, accompanied by an increase in FDI limit for insurance companies, is likely to facilitate an increased flow of long-term capital, a global technology, processes, and international best practices, which will support th...
India one of the fastest-growing insurance markets in the world: Economic Survey
India one of the fastest-growing insurance markets in the world: Economic Survey
Source: IANS
1/02/2023 8:47:39 AM
Slowing global demand weighing on India`s merchandise exports: Economic Survey Slowing global demand is weighing on India's merchandise exports, noted the Economic Survey 2022-23 presented by Finance Minister Nirmala Sitharaman on Tuesday. The empirical literature documents that global growth exerts a strong statistically and economically significant impact on India's real exports, though the impact has reduced over the years. Global growth is forecast to slow down in 2022 and 2023 as per IMF estimates. This is the weakest growth profile since 2001 except ...
Slowing global demand weighing on India`s merchandise exports: Economic Survey
Slowing global demand weighing on India`s merchandise exports: Economic Survey
Source: IANS
1/02/2023 8:44:08 AM
Economic Survey red flags: Higher CAD, rupee depreciation, entrenched inflation On the external front, risks to current account balance stem from multiple sources, noted the Economic Survey 2022-23 that was placed in the Parliament on Tuesday. While commodity prices have retreated from record highs, they are still above pre-conflict levels. Strong domestic demand amid high commodity prices will raise India's total import bill and contribute to unfavourable developments in the current account balance. These may be exacerbated by plateauing export growth on accou...
Economic Survey red flags: Higher CAD, rupee depreciation, entrenched inflation
Economic Survey red flags: Higher CAD, rupee depreciation, entrenched inflation
Source: IANS
1/02/2023 8:35:10 AM
Economic Survey prescribes slew of further reforms to accelerate growth  Further reforms are needed to ensure that economic growth can both accelerate and be sustained at higher levels, to deliver a better quality of life, Economic Survey 2022-23 said. The deregulation and simplification of compliances should continue to dismantle the licensing, inspection, and compliance regime entirely, the Survey said. State governments have to address power sector issues, and the financial viability concerns of the discoms have to be addressed. Impetus must be g...
Economic Survey prescribes slew of further reforms to accelerate growth
Economic Survey prescribes slew of further reforms to accelerate growth
Source: IANS
1/02/2023 8:32:06 AM
Economic Survey expects private sector to take the lead in job creation Private capex soon needs to take up the leadership role to put job creation on a fast track, the Economic Survey 2022-23 noted. India's economic growth in FY23 has been principally led by private consumption and capital formation. It has helped generate employment as seen in the declining urban unemployment rate and in the faster net registration in Employee Provident Fund, it said. Recovery of MSMEs is proceeding apace, as is evident in the amounts of Goods and Services Tax (GST) t...
Economic Survey expects private sector to take the lead in job creation
Economic Survey expects private sector to take the lead in job creation
Source: IANS
1/02/2023 8:29:53 AM
Finance Minister to present Union Budget for 2023-24 today Union Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 on Wednesday in Lok Sabha. She will lay a statement of the estimated receipts and expenditure of the government for 2023-24. The Finance Minister will also lay statements of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003, on medium-term fiscal policy cum fiscal policy strategy and on macro-economic framework. Sitharaman will further introduce the Finance Bill 2023 in the Lower House.
Finance Minister to present Union Budget for 2023-24 today
Finance Minister to present Union Budget for 2023-24 today
Source: IANS
1/02/2023 8:22:25 AM
Indian budget likely to push spending to support growth, while lowering deficit  Presenting its annual budget to parliament on Wednesday, India's government will seek to lower its fiscal deficit while offering incentives for investment and stepping up state spending to support an economy that is caught in the global slowdown. Although the government faces elections in key states this year and a national vote in 2024, the budget is unlikely to offer major relief to households due to fiscal constraints, officials have said, while noting that the budget would fo...
Indian budget likely to push spending to support growth, while lowering deficit
Indian budget likely to push spending to support growth, while lowering deficit
Source: Reuters
1/02/2023 8:16:04 AM
India spearheading one of world's most ambitious clean energy transitions: Economic Survey  India is spearheading one of the worlds most ambitious clean energy transitions and remains steadfast in its commitment to combat climate change, according to the Economic Survey for 2022-23, which was presented in the Parliament on Tuesday. Despite the adverse impacts of Covid-19 on the economy, India has enhanced its climate ambition manifold and embarked on a long-term strategy towards a Low GHG Emission Development Strategy by adopting a multi-pronged approach. The energy tran...
India spearheading one of world's most ambitious clean energy transitions: Economic Survey
India spearheading one of world's most ambitious clean energy transitions: Economic Survey
Source: IANS
31/01/2023 5:34:16 PM
Transfers of over Rs 26.5L crore in Central schemes made since inception of DBT route The JAM Trinity - Jan Dhan Yojana, Aadhaar and Mobile numbers - has allowed the government to offer support to identified households in a targeted and less distortive way in the form of direct benefit transfer (DBT), the Economic Survey for 2022-23 has said. Since the inception of DBT, cumulative transfers of over Rs 26.5 lakh crore in respect of Central schemes have been made through the DBT route. In this process, total savings of over Rs 2.2 lakh crore have accrued as on March 31, 20...
Transfers of over Rs 26.5L crore in Central schemes made since inception of DBT route
Transfers of over Rs 26.5L crore in Central schemes made since inception of DBT route
Source: IANS
31/01/2023 5:33:43 PM
Government health expenditure share rose to 40.6% in FY19 The share of government health expenditure in total health expenditure has increased from 28.6 per cent in FY14 to 40.6 per cent in FY19, highlighted the Economic Survey 2022-23 tabled in Parliament by Union Finance Minister Nirmala Sitharaman here today. The document also reports a concomitant decline in out-of-pocket expenditure as a percentage of total health expenditure from 64.2 per cent in FY14 to 48.2 per cent in FY19. The Survey also shows the hike in the share of expenditure on he...
Government health expenditure share rose to 40.6% in FY19
Government health expenditure share rose to 40.6% in FY19
Source: IANS
31/01/2023 5:21:58 PM
Service sector to see strong growth in 2023-24: Economic survey  India's service sector witnessed a swift rebound in 2021-22 driven by growth in the contact intensive services sub-sector, which bore the maximum burden of the pandemic, the Economic Survey for 2022-23, which was tabled in Parliament, noted. It added that this subsector completely recovered from the pre-pandemic level in the second quarter of 2022-23, driven by the release of pent-up demand, ease of mobility restriction, and near-universal vaccination coverage. Going forward, str...
Service sector to see strong growth in 2023-24: Economic survey
Service sector to see strong growth in 2023-24: Economic survey
Source: IANS
31/01/2023 5:17:09 PM
5G rollout to boost `Digital India` but journey is far from complete: Economic Survey The rollout of 5G services can unleash new economic opportunities and help the country leapfrog the traditional barriers to development, spur innovations by startups and business enterprises, and advance the 'Digital India' vision, the Economic Survey for 2022-23 said on Tuesday. Tabled in the Parliament by Finance Minister Nirmala Sitharaman, the Survey said that 5G could impact consumers directly through higher data transfer speeds and lower latency, "and use cases developed...
5G rollout to boost `Digital India` but journey is far from complete: Economic Survey
5G rollout to boost `Digital India` but journey is far from complete: Economic Survey
Source: IANS
31/01/2023 5:14:12 PM
Economic Survey highlights thrust on rural development The thrust of the Government on rural development is discernible from the emphasis it gets in the Economic Survey 2022-23 tabled in Parliament on Tuesday. The Survey noted that 65 per cent (2021 data) of the country's population lives in the rural areas and 47 per cent of the population is dependent on agriculture for livelihood. Thus, the focus of the government on rural development is imperative. The Government's emphasis has been on improving the quality of life in rural areas t...
Economic Survey highlights thrust on rural development
Economic Survey highlights thrust on rural development
Source: IANS
31/01/2023 5:09:03 PM
Economic Survey showcases India`s economic resilience Despite strong global headwinds and tighter domestic monetary policy, if India is still expected to grow between 6.5 and 7.0 per cent, and that too without the advantage of a base effect, it is a reflection of India's underlying economic resilience; of its ability to recoup, renew and re-energise the growth drivers of the economy, Economic Survey 2022-23 has noted. Monetary tightening by the RBI, the widening of the Current Account Deficit (CAD), and the plateauing growth of exports ha...
Economic Survey showcases India`s economic resilience
Economic Survey showcases India`s economic resilience
Source: IANS
31/01/2023 5:06:45 PM
Different states published different draft Labour Codes for public consultation: Economic Survey  Different states have prepublished different draft rules of the four Labour Codes for public consultation, the Economic Survey 2022-23, tabled in Parliament on Tuesday, said. As per the Survey, as of December 13, 2022, 31 states have prepublished the draft rules under the Code on Wages, 28 states under Industrial Relations Code, 28 states under Code on Social Security, and 26 states under Occupational Safety Health and Working Conditions Code. In 2019 and 2020, 29 Central Labour L...
Different states published different draft Labour Codes for public consultation: Economic Survey
Different states published different draft Labour Codes for public consultation: Economic Survey
Source: IANS
31/01/2023 5:03:00 PM
Manufacturing landscape shows uneven growth: Economic Survey The manufacturing landscape further shows uneven growth across various categories, with industries such as automobiles and electronics registering impressive performances while sectors such as textiles have been showing tepid growth, as export demand for these products has been mellowing with the slowing of global output and demand, the Economic Survey 2022-23 said on Tuesday. While growth in the consumer durables component of the Index of Industrial Production (IIP) is on account of the r...
Manufacturing landscape shows uneven growth: Economic Survey
Manufacturing landscape shows uneven growth: Economic Survey
Source: IANS
31/01/2023 4:59:06 PM
We must strive to bring startups' ownership back to country: Economic Survey As external support from the government has made it relatively easier than before for entrepreneurship to thrive, there are several inherent challenges faced by startups, like ever-elusive funding, revenue generation struggles, lack of easy access to supportive infrastructure, or wading through the regulatory environment and tax structures, the Economic Survey for 2022-23 said on Tuesday. As per the Survey, tabled in Parliament by Finance Minister Nirmala Sitharaman, it has also been obser...
We must strive to bring startups' ownership back to country: Economic Survey
We must strive to bring startups' ownership back to country: Economic Survey
Source: IANS
31/01/2023 4:55:03 PM
Capex on Railways infrastructure received boost since 2014: Economic Survey As external support from the government has made it relatively easier than before for entrepreneurship to thrive, there are several inherent challenges faced by startups, like ever-elusive funding, revenue generation struggles, lack of easy access to supportive infrastructure, or wading through the regulatory environment and tax structures, the Economic Survey for 2022-23 said on Tuesday. As per the Survey, tabled in Parliament by Finance Minister Nirmala Sitharaman, it has also been obser...
Capex on Railways infrastructure received boost since 2014: Economic Survey
Capex on Railways infrastructure received boost since 2014: Economic Survey
Source: IANS
31/01/2023 4:53:22 PM
Infrastructure sector: Capital expenditure Outlay in 2022-23 rises by 35.4%, says Economic Survey  Increase in infrastructure investment provides a critical push to the potential growth of the economy. The government, in recent years, provided an increased impetus for infrastructure development and investment through the enhancement of capital expenditure. As per the Economic Survey released on Tuesday, this push has happened at a time of crisis when the capital expenditure by the private sector has been subdued. The outlay (target) for capital expenditure in 2022-23 (BE) was incr...
Infrastructure sector: Capital expenditure Outlay in 2022-23 rises by 35.4%, says Economic Survey
Infrastructure sector: Capital expenditure Outlay in 2022-23 rises by 35.4%, says Economic Survey
Source: IANS
31/01/2023 4:44:06 PM