Eco Survey updates: FM Nirmala Sitharaman on Monday presented Economic Survey 2023-24 in Lok Sabha

Economic Survey 2024 news: The Economic Survey stated that short-term inflation outlook seems benign, but India faces persistent deficit in pulses

3:08 PM

News update: Inflationary pressure under control, core inflation running below 4%, says CEA

We want to be prudent in projecting growth rate, that is why we have projected country's economic growth at 6.5 to 7 per cent in FY24, CEA Nageswaran said today.

3:05 PM

Soaring market cap to GDP ratio is not necessarily something to celebrate, says CEA Nageswaran

"Inflationary pressures in India are under control, Monetary policy transmission is evident in easing core inflation. Proactive fiscal and monetary policy measures helped limit deviation from inflation target", CEA Nageswaran said .

2:59 PM

Households not in distress; are investing in financial instruments, says CEA

"In the last four years, we have seen foray of retail investors into stock markets through systematic investment plans," CEA V Anantha Nageswaran said today.

2:54 PM

No economic approach will be excluded; we need manufacturing, exports, all combined: CEA V Anantha Nageswaran

"No economic approach will be excluded, we need manufacturing, exports, all combined. The way the global factors are unfolding we do not have the luxury to choose one approach," Chief Economic Advisor V Anantha Nageswaran said today.

2:41 PM

India's renewable energy sector to attract investments worth Rs 30.5 trillion by 2030, says Economic Survey

Mobilisation of finance as well as investment on competitive terms and resolution of land acquisition issues are necessary for realising Rs 30.5 lakh crore investment required for meeting the target of having 500GW renewable energy in India by 2030, according to the Economic Survey.

The Economic Survey 2023-24 tabled in Parliament on Monday the Renewable Energy (RE) sector is expected to attract investments of about Rs 30.5 lakh crore in India between 2024 and 2030.

2:30 PM

MGNREGA work demand ‘not’ linked to rural distress, says Economic Survey

The Economic Survey Fy-24 has sought to discount the oft-repeated argument that links work demand under the flagship MGNREGA scheme with rural distress. The Survey which was tabled in Parliament today said that if that was the case then data trends should show that States with more poverty and higher unemployment rates use more of the scheme’s funds and generate more employment person-days.

2:25 PM

Capital expenditure by private companies picked up in 2023-24: Economic Survey

The Economic Survey said that Gross Fixed Capital Formation (GFCF) by private non-financial corporations increased by 19.8 per cent in FY23. However, it added that India’s private gross fixed capital formation must accelerate in machinery & equipment and intellectual property products so that quality jobs can be created.

2:16 PM

Economic Survey FY24: 'Diminishing dominance of banking support for credit a welcome development'

The economic survey highlighted that the India's financial industry has progressed over time. It said, “For a country that aspires to be a developed nation by 2047, this is a long-awaited and welcome development. Being reliant on and exposed to the capital market, however, comes with its challenges and trade-offs."

2:12 PM

India needs to add 7.85 million jobs every year until 2030 to sustain economic growth: Economic Survey

Amidst Opposition's growing attacks over "joblessness", the Economic Survey has projected that India needs to add 7.85 million jobs every year until 2030 to sustain economic growth and social inclusion. Here is the break-up of the Indian workforce -- 57.3 per cent of the total workforce is self-employed, 18.3 per cent are unpaid workers in household enterprises; casual labour accounts for 21.8 per cent of the total workforce, and regular wage/salaried workers constitute 20.9 per cent. Read more here

2:05 PM

Economic Survey Updates: 'Diversification of energy sources needed but thermal power to play significant role'

The Economic Survey 2023-24 pointed out that India's green hydrogen production target remains subject to various demand and supply side constraints. "As green hydrogen is produced using renewable energy, the sector inherits all the limitations of the renewable sector, including the issue of intermittency and the huge requirement of land for solar and wind energy generation," the survey added.

1:56 PM

Private capital formation may turn slightly more cautious because of fears of cheaper imports: Eco Survey

The economic survey said that India's growth drivers have supported economic growth in FY24 despite uncertain global economic performance. It added that this year, merchandise and services exports are likely to see an uptick. However, the survey noted that the monsoon still has "some ways to go" while adding that a note of caution is warranted in the private sector. Read more here

1:48 PM

Economic Survey Updates: 'Increase in retail investors in stock market calls for careful consideration'

The Economic Survey 2024, tabled in Parliament on July 22, said, "The significant increase in retail investors in the stock market calls for careful consideration. This is crucial because the possibility of overconfidence leading to speculation and the expectation of even greater returns, which might not align with the real market conditions, is a serious concern.” Read more here

1:44 PM

Digital infra has brought transparency and timely delivery of financial services to public: Economic Survey

There is a continuous need to identify regulatory gaps or overlaps in the fintech sector with a need to benchmark regulations with the best practices globally, the Economic Survey 2024 pointed out. The country’s digital public infrastructure (DPI), also known as the India Stack, includes foundational blocks of digital identification and payment infrastructure such as Aadhar, real-time quick payments in the form of Unified Payments Interface (UPI), account aggregator framework, among others. 

1:39 PM

FDI inflows from China can help India increase global supply chain participation: Economic Survey

Increased foreign direct investment inflows from China can help increase India's global supply chain participation and push exports, says the Economic Survey. The Survey said as India looks to deepen its involvement in global value chains (GVCs), it needs to look at the successes and strategies of East Asian economies. 

1:31 PM

AI casting uncertainty on workers's employability: Economic Survey

AI is casting a huge pall of uncertainty with regard to impact on workers across all skill levels, the Economic Survey 2023-24 stated.