Eco Survey LIVE: GDP will rise to 8% if global economy recoups, says CEA

Catch all the latest updates on Economic Survey for 2022-23 and Budget 2023-24 here

3:05 PM

Eco Survey 2023 LIVE: India's Covid vaccine programme instrumental in facilitating economic recovery, says CEA

Wideranging efforts have been taken by government for ensuring quality health, India's Covid-19 vaccination programme has been instrumental in facilitating our economic recovery process as well, states Chief Economic Advisor

3:03 PM

Economic Survey 2023 LIVE: Govt interventions in strengthening social infra substantial

Interventions made by the government in strengthening social infrastructure have been substantial, outlays have become outcomes, notes Economic Survey

2:59 PM

Economic Survey 2023 LIVE: Improved balance sheets, digital infra to add 50-100 bps to GDP growth

Phase 1 reforms in digital public infrastructure have set the stage for new-age reforms which will ensure that hitherto-neglected segments of society such as low-income households and microbusinesses get fair shot at accessing national and international markets. 

 

India's improved balance sheets and digital infrastructure together will add anywhere between 50 - 100 basis points to India's potential GDP growth, which is what we were missing in the second decade of the millenium: Chief Economic Advisor

2:53 PM

Economic Survey 2023 LIVE: Significant growth in critical physical infra during 2011-20, says CEA

There has been significant growth in critical physical infrastructure during 2011 - 2020, PM Gati Shakti is about reducing info asymmetries and ensuring that govt projects are executed without time or cost overruns: Chief Economic Advisor V Anantha Nageswaran 

2:49 PM

Economic Survey 2023 LIVE: Quality of public expenditure goes up, says CEA

Quality of public expenditure has gone up, govt. has become more transparent with budget deficit numbers, there is increased transparency in public procurement; various such dimensions have led to improved expenditure management, said Chief Economic Advisor. 

Insolvency and Bankruptcy Code which ensures borrower payment culture, RERA which ensures trust between developers and buyers, decriminalization of offences under Companies Act and such other initiatives have strengthened a trust-based governance model, the Economic Survery highlighted  

 

 

2:46 PM

Economic Survey 2023 LIVE: FDI inflow rises by 76% at $21.3 bn in FY22

The Economic Survey highlighted that the FDI inflow jumped to $21.3 billion in FY22 from $12.1 billion in FY21 as the pandemic-driven expansionary policies of advanced economies led to a surge in global liquidity.

 

The Survey mentioned that FDI equity inflow in manufacturing in the first half of FY23 fell below its corresponding level in the first half of FY22, with the rise in global uncertainty in the wake of the Russia-Ukraine conflict.

 

A rebound in FDI inflows is, however, expected as the Indian economy sustains its high growth while monetary tightening the world over eventually eases with the weakening of inflationary pressures, the Survey expressed optimism.

2:44 PM

Economic Survey 2023 LIVE: Private sector investment in agriculture is at high levels, says CEA

Share of private sector investment in agriculture has reached a high level, faciliated by various government initiatives. The sector is no longer about being a primary sector, it has tremendous export potential as well, observes Chief Economic Advisor

 

2:40 PM

Economic Survey 2023 LIVE: Govt not just enabler, but a partner, says CEA

The philosophy of economic management revolves around making it easier for people and businesses to pursue their economic activities, leading to enhanced potential for higher growth. It's not just about govt. being enabler, but a partner: Chief Economic Advisor V Anantha Nageswaran 

2:38 PM

Economic Survey 2023 LIVE: Borrowing cost may remain 'higher'

Borrowing cost may remain 'higher' for longer period; entrenched inflation may prolong tightening cycle: Economic Survey

 

2:37 PM

Economic Survey 2023 LIVE: Public procurement transparent, says CEA Nageswaran

CEA Nageswaran said that the public procurement of the PM Modi-led Centre is transparent 

2:34 PM

Economic Survey 2023 LIVE: GDP growth at sustainable levels, says CEA Nageswaran

India is the fatest growing economy. GDP growth at sustainable levels. Government promotes GDP growth:  Chief Economic Advisor V Anantha Nageswaran 

2:31 PM

Economic Survey 2023 LIVE: Current account deficit may continue to widen

Current account deficit may continue to widen as global commodity prices remain elevated; rupee may come under pressure. Challenge to rupee depreciation persists with the likelihood of further interest rate hikes by the US Fed: Economic Survey

 

2:29 PM

Economic Survey 2023 LIVE: SMEs contribution in primary equity markets increases

SMEs contribution in primary equity markets increases. Indian stock markets outperform peers in FY 2022-23. India remains an attractive destination for foreign portfolio investments: Economic Survey

2:21 PM

Economic Survey 2023 LIVE: Recovery of economy from pandemic is complete, says CEA

"Recovery of economy is complete; non-banking and corporate sectors now have healthy balance sheets, hence, we don't have to speak of pandemic recovery any more, we have to look ahead to the next phase", said Chief Economic Advisor V Anantha Nageswaran

He further added that leverage ratio in corporate sector went very sharply in first decade of millenium, second decade was thus a payback time, excessive credit growth had to be adjusted for in second decade, balance sheets now have been repaired, and credit growth is picking up.

 

2:18 PM

Economic Survey 2023 LIVE: India's economy poised to do better, says CEA

IMF, in its World Economic Outlook Update, has maintained India's GDP forecast for current FY at 6.8%, next FY at 6.1% and for 2024-25 at 6.8 per cent. India's economy is poised to do better in the remainder of this decade, said Chief Economic Advisor V Anantha Nageswaran