Page 11 - Economic Survey

Indian farm sector performed well, but needs re-orientation: Eco Survey

Indian agriculture has performed well but the sector needs "re-orientation" in the backdrop of certain challenges like adverse impacts of climate change, rising input cost, etc, the Economic Survey for 2022-23 tabled in Parliament on Tuesday said. The other challenges are fragmented landholdings, sub-optimal farm mechanisation, low productivity, disguised unemployment, rising input costs, etc. "While Indian agriculture has performed well, the sector needs re-orientation in the backdrop of certain challenges...," it said. Stating that the performance of the agriculture sector remains critical to growth and employment in the country, the Survey said investment in the sector must be encouraged through an affordable, timely and inclusive approach to credit delivery. It may be noted that more than 75 per cent of rural female workers are employed in the agriculture sector. This implies a need to upskill and create employment for women in agriculture-related sectors such as food ...

Disinvestment proceeds of Rs 4.07 trn realised in last 9 years: Eco Survey

About Rs 4.07 lakh crore has been realised as disinvestment proceeds in the past nine years, and post-2014 the government is engaging with the private sector as a co-partner in the development, the Economic Survey said on Tuesday. In the current fiscal, out of the budgeted amount of Rs 65,000 crore, 48 per cent or over Rs 31,000 crore has been collected as of January 18, 2023. The survey said privatisation of Air India re-ignited the privatisation drive, and evidence shows that labour productivity and the overall efficiency of the PSUs disinvested during 1990-2015 has improved. "During FY15 to FY23 (as of 18 January 2023), an amount of about Rs 4.07 lakh crore has been realised as proceeds from disinvestment through 154 transactions using various modes/instruments," said the Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. Of this, Rs 3.02 lakh crore was realised from minority stake sale and Rs 69,412 crore was realised from strategic disinvestment transactions i

EV market likely to cross 10-mn sales mark per annum by 2030: Eco Survey

India's electric vehicles (EV) market is expected to grow to one crore units annual sales by 2030 and create 5 crore direct and indirect jobs, according to the Economic Survey 2022-23. The survey tabled in Parliament on Tuesday said that in December 2022, India became the third-largest automobile market, surpassing Japan and Germany in terms of sales. "The automotive industry is expected to play a critical role in the transition towards green energy. The domestic electric vehicles (EV) market is expected to grow at a compound annual growth rate (CAGR) of 49 per cent between 2022 and 2030 and is expected to hit one crore units of annual sales by 2030," it said. As per industry estimates, the total EV sales in India stood at around 10 lakh units in 2022. Further, the survey said, "The EV industry will create 5 crore direct and indirect jobs by 2030. To support and nurture this development, the government has undertaken multiple steps". The pre-Budget document also highlighted that t

What does Economic Survey 2022-23 tell us about growth in the coming year?

The Survey, tabled by finance minister Nirmala Sitharaman today, said the economy has recovered from the financial system stress experienced in the second decade of the millennium

Economic Survey 2022-23: What does it say about inflation and employment

Economic Survey said that RBI's inflation projections for FY23 are neither too low nor too high

FDI inflows expected to rebound in India on account of high growth: Survey

Foreign direct investment into the country is expected to rebound in the coming months on account of India's high economic growth, and steps to further improve the business environment of India, the Economic Survey said on Tuesday. The rise in global uncertainty in the wake of the Russia-Ukraine conflict, FDI equity inflows in the manufacturing sector in the first half of the current fiscal (April-September) fell below its corresponding level in the first half of 2021-22, the document, which was tabled in Parliament, said. The monetary tightening at the global level has further restricted the FDI equity inflows, the survey said. "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 said. FDI equity inflows into India contracted by 14 per cent to USD 26.9 billion during the April-September this fiscal, according to the data of t

Credit growth likely to be brisk in FY24 if inflation moderates: Survey

Credit growth is likely to be brisk for MSMEs in FY2023-24 provided inflation remains benign and cost of credit is low, said the Economic Survey 2022-23 presented in Parliament on Tuesday. The Micro, Small and Medium Enterprises sector witnessed a credit growth of about 31 per cent in January-November 2022. "If inflation declines in FY24 and if real cost of credit does not rise then credit growth is likely to be brisk in FY24," the Survey said. Talking about the banking sector in India, the Survey said it has also responded in equal measure to the demand for credit as the year on year growth in credit since the January-March quarter of 2022 has moved into double digits and is rising across most sectors. The finances of public sector banks (PSBs) have seen a significant turnaround with profit being booked at regular intervals and their non-performing assets being fast-tracked for quicker resolution/liquidation by the Insolvency and Bankruptcy Board of India (IBBI), it said. At the

Indian economy to grow 6.5% in FY24; CAD may widen further: Economic Survey

It added that India is third-largest economy in the world in PPP (purchasing power parity) terms and fifth largest in terms of exchange rate

Rupee may remain under depreciation pressure, says Economic Survey

The Indian rupee may remain under depreciation pressure on account of plateauing of exports and subsequent widening of the current account deficit, said the Economic Survey 2022-23 tabled in Parliament on Tuesday. It said the "risks to the current account balance stem from multiple sources". The country's current account deficit (CAD) widened to 4.4 per cent of the GDP in the quarter ended September from 2.2 per cent in April-June due to higher trade gap, as per latest data of the Reserve Bank of India. In the opening trade on Tuesday, the rupee depreciated 12 paise to 81.64 against the US dollar, weighed down by significant foreign fund outflows and a muted trend in domestic equities. Amid geopolitical situation and tightening of monetary policy by the US Fed, the Indian rupee has remained under pressure and even breached the 83-mark to a US dollar. According to the survey, while commodity prices have retreated from record highs, they are still above the "pre-conflict" ...

Here is what CEA Nageswaran said on the morning of the Economic Survey

Nageswaran said that the Economic Survey provides a 'bird's-eye view of happenings in the economy

Budget 2023: What is the Economic Survey? All you need to know about it

The Survey reviews the economic and financial trends in the nation over the past year and provides detailed data and analysis on all the major sectors of the economy

Sitharaman to present economic survey for 2022-23 in Parliament today

Finance Minister Nirmala Sitharaman on Tuesday will present the Economic Survey (2022-23) in Parliament

Economic survey likely to peg 2023-24 growth at slowest in 3-yrs: Report

According to the report, the survey will likely caution that pressure on the rupee could continue due to the tightening of monetary policy

India economic survey likely to peg 2023-24 growth at 6-6.8%: Experts

India's annual pre-budget economic survey is likely to peg GDP growth at 6-6.8% for 2023-24, according to a source

The age of the Metro: How the system failed to induce behavioural change

The Delhi Economic Survey 2021-22 shows the number of vehicles in the capital was more than 10 million

Top Headlines: Economic survey in Jan, railways' coal projects, and more

CEA V Anantha Nageswaran is looking to put his stamp on his first Economic Survey, and to that end, the 2022-23 Survey, which will be released on January 31

After Economic Survey in January, vision document likely in July

Vision document in July to provide road map for next 3-5 years as well as for 'Amrit Kaal'

Run-up to Budget: Economic Survey may peg India's FY24 GDP growth at 6-7%

Economic Survey to focus on India's response to Covid, geopolitical shocks

Now, all women are entitled to safe and legal abortion: Supreme Court

The court also for the first time recognised marital rape under the MTP Act

CEA says India poised to grow at 7% this year and for rest of decade

Economic Survey had pegged FY23 GDP growth higher at 8-8.5%