Page 9 - Latest Updates on Economic Survey
Digital public infra to contribute 30-50 bps to medium-term growth
The government expects the platform to significantly boost the ease of doing business with secure, paperless, and hassle-free contracts
 "Digital public infra to contribute 30-50 bps to medium-term growth")
CAD may reach manageable levels in second half of FY23: Economic Survey
This could be owing to cheaper crude oil, resilient net services exports and buoyant inward remittances
 "CAD may reach manageable levels in second half of FY23: Economic Survey")
About 11 mn people trained, 2.14 mn placed under PMKVY 2.0: Economic Survey
The Survey also highlighted that the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) provided training to Shramiks (migrant labourers) affected due to Covid-19
 "About 11 mn people trained, 2.14 mn placed under PMKVY 2.0: Economic Survey")
MGNREGS work demand back to pre-pandemic level, shows Economic Survey
The share of "works done on individual's land" has increased from 16 per cent of the total completed works in 2015-16, to 73 per cent in 2022-23
 "MGNREGS work demand back to pre-pandemic level, shows Economic Survey")
Real rural wages expected to rise as inflation eases: Economic Survey
Survey says agriculture needs 'reorientation' in view of new challenges
 "Real rural wages expected to rise as inflation eases: Economic Survey")
Credit growth to sustain and spark virtuous cycle: Economic Survey
The year-on-year (YoY) growth in non-food bank credit sped up to 15.3 per cent in December 2022, with the credit growth broad-based across sectors, the Survey said
 "Credit growth to sustain and spark virtuous cycle: Economic Survey")
Eco survey 2023: Bright prospects under dark clouds with silver linings
The Economic Survey outlines the underlying framework of reforms in India centred on ease of doing business and ease of living
 "Eco survey 2023: Bright prospects under dark clouds with silver linings")
Govt health spend must hit 2.5% of GDP by 2025, says Economic Survey
At the same time, out-of-pocket expenditure as a percentage of total health expenditure has declined from 64.2 per cent in FY14 to 48.2 per cent in FY19
 "Govt health spend must hit 2.5% of GDP by 2025, says Economic Survey")
Global finance critical to India's climate actions: Economic Survey
'Enhanced initiatives' by developed countries must be in form of finance, technology transfer, capacity-building
 "Global finance critical to India's climate actions: Economic Survey")
Green hydrogen crucial for economic development, energy security: Survey
The mission will facilitate demand creation, production, utilisation and export of green hydrogen and mobilisation of over Rs 8 lakh crore of investments by 2030
 "Green hydrogen crucial for economic development, energy security: Survey")
Economic Survey flags concerns on Crypto, pushes for global regulation
Survey said events such as collapse of crypto exchange FTX have put vulnerabilities of the sector in focus
 "Economic Survey flags concerns on Crypto, pushes for global regulation")
GST led to high tax buoyancy, augurs well for resource mobilisation: Survey
However, the buoyancy improved to 1.1 after the GST implementation on July 1, 2017
 "GST led to high tax buoyancy, augurs well for resource mobilisation: Survey")
Rollout of 5G services can unleash new economic opportunities: Eco Survey
Telecom reforms and clear policy direction led to the spectrum auction of 2022 garnering the highest-ever bids, the survey observed
 "Rollout of 5G services can unleash new economic opportunities: Eco Survey")
Adequate, affordable finance a constraint in climate action: Eco Survey
"India's climate ambitions require resources to be dedicated to the cause of climate change, in addition to, what is needed for the country's development goals," the survey said
 "Adequate, affordable finance a constraint in climate action: Eco Survey")
Enhanced domestic coal production to replace imports: Economic Survey
Coal production in FY23 is likely to increase to 911 million tonne, about 17 per cent higher compared to the previous year
 "Enhanced domestic coal production to replace imports: Economic Survey")
Entirely dismantle licensing, inspection and compliance regime: Eco Survey
The government, however, imparted a new dimension to these reforms in the last eight years
 "Entirely dismantle licensing, inspection and compliance regime: Eco Survey")
Promoting int'l trade in rupee to help reduce currency volatility: Survey
International settlement in rupee acquires significance against the backdrop of the US Federal Reserve aggressively hiking the policy rates and its hawkish stand
 "Promoting int'l trade in rupee to help reduce currency volatility: Survey")
Global economic factors, recessionary fears led to FPI sell-off: Eco Survey
In addition, investors were sitting on gains from Indian stocks that could be realised to offset losses elsewhere, the survey noted
 "Global economic factors, recessionary fears led to FPI sell-off: Eco Survey")
PLI scheme to make Indian firms competitive, attract investment: Survey
The strategy behind the scheme is to offer companies incentives on incremental sales from products manufactured in India, over the base year
 "PLI scheme to make Indian firms competitive, attract investment: Survey")
Finance costs, global demand near-term hurdles for auto sector: Eco Survey
Among structural issues, increase in long-term third-party vehicle insurance premiums has spiked total upfront insurance cost by 10-11%, especially for two-wheelers
 "Finance costs, global demand near-term hurdles for auto sector: Eco Survey")
