Share of agriculture in workforce will decline from 45.8 per cent in 2023 to one-fourth in 2047, it says
"Even as developed nations prepare to impose a carbon tax at the border on imports coming into their countries laden with carbon, they are ramping up energy demand like never before," said the Survey
There are five issues that have been brought up in the Survey which requires discussion
Cites Apple, Foxconn success stories on China Plus One; Calls to strike a balance between importing goods and FDI from China
The Survey said the global trade outlook for 2024 remains positive, with merchandise trade expected to pick up after registering a contraction in volumes in 2023
Hardships caused to poor and low-income consumers can be handled through DBT, it says
A recent report by the Principle Scientific Adviser, Government of India and IIM Ahmedabad estimates India's energy demand to double by 2040
Tax revenue's continued growth, meanwhile, is led by direct taxes
A small enterprise is where the investment in plant and machinery or equipment does not exceed Rs 10 crore, and turnover does not exceed Rs 50 crore
Says mkt claim on real economy 'excessively high', warns it may lead to instability
Social media, unhealthy food impacting workers
Says that he was upbeat but cautious about the growth prospects of India while projecting a 6.5-7% GDP growth rate for 2024-25
Survey says nearly 135 mn have emerged from multidimensional poverty
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In FY22 and FY23, clothing was a major driver of inflation
Industry bodies on Monday expressed confidence that India's GDP growth will surpass the 6.5 to 7 per cent forecast by the Economic Survey, and hoped that the upcoming Budget will roll out measures to help unlock the country's growth potential. Reacting to the Economic Survey 2023-24, tabled in Parliament, Chandrajit Banerjee, Director General, CII, stated that it is "pragmatic" in its approach and offers a futuristic vision to move India boldly towards achieving the developed economy status by 2047. "The survey is positive about the India growth story, and I am confident that India's GDP growth for FY25 will surpass the forecast given in the Survey and basis certain conditions, it has the potential to be at 8 per cent," CII President Sanjiv Puri said. Echoing similar sentiments, President of PHD Chamber of Commerce and Industry Sanjeev Agrawal said the Survey conservatively projects a real GDP growth of 6.5-7 per cent, with risks evenly balanced and market expectations on the higher
Public policy should pay particular attention to boosting the tourism sector, Survey notes
Survey shows the way for sustained growth
While services exports may continue to have a competitive advantage, future growth will hinge on domestic consumption and investment demand
The Survey says the idea of economic globalisation has run its course and it may not be reversed fully