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

2:15 PM

Economic Survey 2023 LIVE: India withstood extraordinary challenges better than most economies

India withstood extraordinary set of challenges better than most economies: Economic Survey

India's recovery from pandemic was relatively quick; growth to be supported by domestic demand, pick up in capital investment: Survey

2:14 PM

Economic Survey 2023 LIVE: Govt health expenditure increased to 40.6% in FY19

In a significant milestone, depicting the importance given by the Government on health expenditure and ensuring the provision of quality health facilities to citizens, 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.  Noting that India is entering the Amrit Kal with better-equipped schools, affordable healthcare, towards attaining different SDGs and the outcomes thereof, these significant figures have been highlighted in the Economic Survey 2022-23 tabled in Parliament by Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, 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.  

2:06 PM

Economic Survey 2023 LIVE: India's agriculture sector grows 4.6% during last 6 years

Agriculture sector remains buoyant with 4.6 percent annual growth during last six years. 2021-22 Agri exports reach an all-time high of $50.2 billion. Increasing MSP, growing Agri credit, income support schemes & are among key factors promoting the sector: Economic Survey

1:59 PM

Economic Survey 2023 LIVE: India achieves 40% of NDC target

India has updated its Nationally Determined Contributions (NDCs) by advancing its target of installed electric capacity from non-fossil fuels ahead of 2030, to 50%.  The Survey mentions India’s Long-Term Low Carbon Development Strategy (LT-LEDS) which focuses on the rational utilisation of national resources with due regard to energy security. This strategy is in line with the vision of LiFE, Lifestyle for the Environment, calling for a worldwide paradigm shift from mindless and destructive consumption to mindful and deliberate utilisation.

1:55 PM

Economic Survey 2023 LIVE: Return of migrant workers helped revive housing market

Return of migrant workers to construction activities helped housing market witnessing a significant decline in inventory overhang to 33 months in Q3 of FY23 from 42 months last year: Economic Survey

1:54 PM

Economic Survey 2023 LIVE: Private consumption at 58.4% of GDP

Private consumption as a percentage of GDP stood at 58.4 per cent in Q2 of FY23, the highest among the second quarters of all the years since 2013-14, supported by a rebound in contact-intensive services such as trade, hotel and transport: Economic Survey 

1:51 PM

Economic Survey 2023 LIVE: Urban employment nearing pre-pandemic levels

As per the reports of the fourth round of the Quarterly Employment Survey (QES) (for Q4 FY22) in respect of establishments employing at least 10 workers in major nine sectors, 15.6 per cent of estimated establishments imparted formal skill training and 20.5 per cent imparted on-the-job training. The health sector had the highest percentage of estimated establishments imparting formal skill training (24.7 per cent) and on-the-job training (31.6 per cent), followed by financial services (20.4 per cent of establishments imparting formal training and 26.4 per cent imparting on-the-job training).

1:46 PM

Economic Survey 2023 LIVE: India’s foodgrains production touched 315.7 mn tonnes in 2021-22

India’s foodgrains production touched a record 315.7 million tonnes in 2021-22 despite climate change challenges said the Economic Survey 2022-23 tabled in the Parliament by the Union Minister of Finance and Corporate Affairs  Nirmala Sitharaman here today.

Further, as per the First Advance Estimates for 2022-23 (Kharif only), total foodgrains production in the country is estimated at 149.9 million tonnes which is higher than the average Kharif foodgrain production of the previous five years (2016-17 to 2020-21). The production of pulses has also been notably higher than the average of 23.8 million tonnes in the last five years points the Survey.

1:41 PM

Economic Survey 2023 LIVE: India's GVA in services sector estimated to grow at 9.1%

As per the First Advance Estimates, Gross Value Added (GVA) in the services sector is estimated to grow at 9.1% in FY23, driven by 13.7% growth in contact-intensive services sector: Economic Survey 

The services sector witnessed a swift rebound in FY22, growing Year-on-Year (YoY) at 8.4% compared to a contraction of 7.8% in the previous financial year, it added

1:34 PM

Economic Survey 2023 LIVE: Surge in growth of exports induced shift in gears to cruise mode

Surge in growth of exports in FY22 and the first half of FY23 induced a shift in the gears of the production processes from mild acceleration to cruise mode: Economic Survey 

1:28 PM

Economic Survey 2023 LIVE: Inflation didn't 'creep too far above' tolerance

Inflation did not "creep too far above" tolerance range compared to several advanced nations. The growth in exports has moderated in second half of current fiscal; the surge in growth rate in 2021-22 and first half of current fiscal led to production processes shifting gears from 'mild acceleration' to 'cruise mode': Economic Survey

 

1:19 PM

Economic Survey 2023 LIVE: India's real GDP growth to be 6-6.8%

Real GDP growth to be in the range of 6-6.8 per cent next fiscal depending on global economic, political developments: Economic Survey 2022-23

 

 

1:17 PM

Economic Survey 2023 LIVE: Indian economy nearly recouped

Economy has nearly recouped what was lost, renewed what had paused; re-energised what had slowed during the pandemic: Economic Survey.

1:15 PM

Economic Survey 2023 LIVE: India is third-largest economy globally in PPP

India is third-largest economy in the world in PPP (purchasing power parity) terms; 5th largest in terms of exchange rate: Economic Survey

1:11 PM

Economic Survey 2023 LIVE: India to remain fastest growing major economy

India to remain fastest growing major economy in the world: pre-Budget Economic Survey tabled in Parliament