Page 3 - Latest Updates on Economic Survey
19.2 mn foreigners visited India in 2023, up from 1.05 mn in 2021: Govt
The overall foreign tourist visits to India rose from 1,054,642 in 2021 to an estimated 19,245,817 in 2023, indicating a robust recovery and growth in India's tourism sector post-pandemic
 "19.2 mn foreigners visited India in 2023, up from 1.05 mn in 2021: Govt")
Pvt sector's offering to 'toxic mix of habits' substantial: Eco Survey
Social media, screen time, sedentary habits, and unhealthy food are a lethal mix that can undermine public health and productivity and diminish India's economic potential
 "Pvt sector's offering to 'toxic mix of habits' substantial: Eco Survey")
Economic Survey 2023-24: Consumer durables inflation eased in FY24
In FY22 and FY23, clothing was a major driver of inflation
 "Economic Survey 2023-24: Consumer durables inflation eased in FY24")
Changing ties: Eco Survey bats for more FDI from China to tap export market
Cites Apple, Foxconn success stories on China Plus One; Calls to strike a balance between importing goods and FDI from China
 "Changing ties: Eco Survey bats for more FDI from China to tap export market")
India's FY25 GDP growth will surpass Economic Survey forecast: Industry
The Survey projects India's economic growth at 6.5-7 pc in FY2024-25 versus 8.2 pc in 2023-24
 "India's FY25 GDP growth will surpass Economic Survey forecast: Industry")
Economic Survey: DPI brings down KYC costs to Rs 6 from about Rs 1,000
The disclosure on KYC costs comes as the RBI has been cautious about KYC risks and has emphasised well-defined norms for market players
 "Economic Survey: DPI brings down KYC costs to Rs 6 from about Rs 1,000")
Developed world's climate plans in a fog, India's a clear blue sky: Survey
"Even as developed nations prepare to impose a carbon tax at the border on imports coming into their countries laden with carbon, they are ramping up energy demand like never before," said the Survey
 "Developed world's climate plans in a fog, India's a clear blue sky: Survey")
India can grow at over 7% in the medium term, says Economic Survey
The Survey said the global trade outlook for 2024 remains positive, with merchandise trade expected to pick up after registering a contraction in volumes in 2023
 "India can grow at over 7% in the medium term, says Economic Survey")
Employment generation is real bottom line for India Inc: Economic Survey
Social media, unhealthy food impacting workers
 "Employment generation is real bottom line for India Inc: Economic Survey")
How fake employment certificates in India are sold for Rs 7,500: Explained
Fake employment certificates are not only affordable and easily accessible but can also be produced within hours
 "How fake employment certificates in India are sold for Rs 7,500: Explained")
Renewable energy sector to get Rs 30.5 trn investments by 2030: Eco Survey
India has put in place a target of achieving 50 per cent cumulative installed capacity for generating electric power from non-fossil fuel-based energy resources by 2030
 "Renewable energy sector to get Rs 30.5 trn investments by 2030: Eco Survey")
Doom scrolling to cyberbullying: Economic Survey focuses on mental health
The Economic Survey for FY24 highlighted that mental health affects productivity more broadly than physical health issues and highlighted the socio-economic impacts of mental disorders
 "Doom scrolling to cyberbullying: Economic Survey focuses on mental health")
Govt's initiatives for cleaner coal need to be promoted: Economic Survey
While phasing in renewables to the extent possible is crucial, in the short to medium term, the focus should also be on actively adopting clean coal technologies
 "Govt's initiatives for cleaner coal need to be promoted: Economic Survey")
Indian carriers should be strengthened for long-haul flights: Eco Survey
"A large proportion of Indian international traffic for the long haul goes through connectivity hubs in the Middle East and Southeast Asia"
 "Indian carriers should be strengthened for long-haul flights: Eco Survey")
Need to capacitate Mospi to integrate all required statistics: Eco Survey
The survey notes that official statistics play a pivotal role in addressing societal challenges and promoting inclusive growth
Households not in distress, investing more in financial assets: CEA
The Economic Survey has projected a prudent growth rate of 6.5-7 per cent for the current financial year, and much will depend upon the progress of the monsoon, Nageswaran added
 "Households not in distress, investing more in financial assets: CEA")
Tourism sector witnessed revival, foreign arrivals went up: Eco Survey
Public policy should pay particular attention to boosting the tourism sector, Survey notes
 "Tourism sector witnessed revival, foreign arrivals went up: Eco Survey")
Economic Survey says need for 'viable, cost-effective' housing in India
Going forward, the demand for housing is expected to be driven by affordability and increased access to credit, it said
 "Economic Survey says need for 'viable, cost-effective' housing in India")
Fiscal balances improved despite rise in public investment: Eco Survey
The external balance has been pressured by subdued global demand for goods, but strong services exports largely counterbalanced this, it added
 "Fiscal balances improved despite rise in public investment: Eco Survey")
Remove food from inflation-targeting framework, explore options: Eco Survey
India introduced the inflation-targeting framework in 2016 under which the Reserve Bank of India (RBI) is mandated to keep retail inflation at 4 per cent, with a margin of 2 per cent on either side
 "Remove food from inflation-targeting framework, explore options: Eco Survey")
