Page 4 - Economic Survey

How fake employment certificates in India are sold for Rs 7,500: Explained

Fake employment certificates are not only affordable and easily accessible but can also be produced within hours

Better utilisation of land will bring fixed cost of production: Survey

MSMEs are the backbone of the Indian economy, contributing approximately 30 per cent of the country's gross domestic product (GDP)

Indian carriers should be strengthened for long-haul flights: Eco Survey

"A large proportion of Indian international traffic for the long haul goes through connectivity hubs in the Middle East and Southeast Asia"

Decoding the Economic Survey 2024

Need to capacitate Mospi to integrate all required statistics: Eco Survey

The survey notes that official statistics play a pivotal role in addressing societal challenges and promoting inclusive growth

Renewable energy sector to get Rs 30.5 trn investments by 2030: Eco Survey

Mobilization 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. According to the Survey, this would create significant economic opportunities across the value chain. The clean energy sector in India saw new investments of Rs 8.5 lakh crore (USD 102.4 billion) between 2014 and 2023, it said, adding that the RE sector received about USD 17.88 billion as FDI from April 2000 until March 2024. On mobilization of necessary finance and investments on competitive terms for the RE sector, the Survey pointed towards gearing up the banking sector for arranging finances for larger deployment ..

Doom scrolling to cyberbullying: Economic Survey focuses on mental health

The Economic Survey for FY24 highlighted that mental health affects productivity more broadly than physical health issues and highlighted the socio-economic impacts of mental disorders

Govt's initiatives for cleaner coal need to be promoted: Economic Survey

The initiatives of the government for cleaner fuel such as coal gasification mission and exploring coal to hydrogen need to be promoted to reduce emission and increase environmental sustainability, the Economic Survey on Monday said. While phasing in renewables to the extent possible is crucial, in the short to medium term, the focus should also be on actively adopting clean coal technologies. With the arrival of ultra super-critical technologies for coal-fired power plants, it would be possible to bring down emissions and achieve higher efficiency, the Economic Survey 2023-24 tabled in Parliament said. "In exploring the landscape for ensuring energy security, it has become evident that risks are not merely obstacles but also harbingers of opportunities. While uncertainties loom, they present avenues for innovation, adaptation, and growth for India. While phasing in renewables to the extent possible is imperative, in the short to medium term, the focus should also be on actively ...

117,254 DPIIT-recognised startups created 1.2 mn direct jobs: Eco Survey

Startups soar from 300 to over 100k in 7 years

Economic Survey says need for 'viable, cost-effective' housing in India

Going forward, the demand for housing is expected to be driven by affordability and increased access to credit, it said

Households not in distress, investing more in financial assets: CEA

Chief Economic Advisor V Anantha Nageswaran on Monday said that households are investing more in financial assets and their market value are not captured in the national income data. The Economic Survey 2023-24, tabled in Parliament, said that registered investor base at NSE has nearly tripled from March 2020 to March 2024 to 9.2 crore as of March 31, 2024, potentially translating into 20 per cent of the Indian households now channelling their household savings into financial markets. Addressing reporters, Nageswaran said, "households are not in distress" and they are investing in financial assets which have done very well. Also, savings in physical assets have improved and gone up from 10.8 per cent in fiscal 2020-21 to 12.9 per cent in 2022-23. "Especially in last 4 years the foray of retail investors into stock market through SIPs and mutual funds has been quite prolifically documented. Our national income data do not record this at market prices and that is the reason why there

Apprenticeship framework must provide flexibility in work hours: Eco Survey

Such reform and better compensation will improve employability of vocational students, it says

Increased education budget led to rise in enrolment rates: Economic Survey

The survey states a rise in enrolment in higher education has been witnessed between FY15 and FY22, driven by underprivileged sections such as SC, ST, and OBC

Primary mkt was robust amidst favourable investment climate: Eco Survey

Debt issuances dominated fundraising in the last fiscal year, constituting 78.8 per cent of the total funds raised

Fiscal balances improved despite rise in public investment: Eco Survey

The fiscal balances of the central and state governments taken together have improved progressively despite expansionary public investments, according to the Economic Survey 2023-24. Tax compliance gains driven by procedural reforms, expenditure restraint, and increasing digitisation helped India achieve this fine balance, according to the Economic Survey 2023-24, tabled in Parliament by Finance Minister Nirmala Sitharaman on Monday. The external balance has been pressured by subdued global demand for goods, but strong services exports largely counterbalanced this, it added. Noting that global output is now somewhat more resilient than in 2022, the pre-Budget document said inflationary pressures are shrinking, and trade is set to recover, should there be no further geo-political shocks or flare-ups. However, the survey noted that chances of geopolitical disturbances and conflicts have only gone up in recent times. The survey said India's calibrated response to the pandemic on the

Remove food from inflation-targeting framework, explore options: Eco Survey

The Reserve Bank should stop looking at food inflation in deciding interest rates and the government should explore giving coupons or direct cash transfer to poor to deal with higher food prices, the pre-Budget economic survey said on Monday. While the inflation rate has moderated in recent months, the RBI has refrained from cutting benchmark interest rates -- which decide the rate at which home, personal and corporate loans are given by banks -- citing elevated food inflation. India introduced the inflation-targeting framework in 2016 under which the Reserve Bank of India (RBI) is mandated to keep retail inflation at 4 per cent, with a margin of 2 per cent on either side. The benchmark policy rates are decided bi-monthly by the RBI on the basis of movement in consumer price index, which includes food, fuel, manufactured goods and select services. "India's inflation targeting framework should consider targeting inflation, excluding food. Higher food prices are, more often, not ...

Healthcare has become more affordable and accessible: Eco Survey

As such, out-of-pocket expenditure (OOPE) as a percentage of THE has come down from 64.2 per cent in FY14 to 47.1 per cent in FY20

India now among top 25 global defence exporters: Economic Survey 2023-24

Economic Survey 2023-24 says India has gone from being world's second-largest arms importer between 2015 and 2019 to securing a place in the list of the top 25 arms exporter nations

Green steel to play key role in for low carbon economy: Economic Survey

Green steel will play an important role in reshaping the future of the industry as the world moves towards a low-carbon economy, the Economic Survey for 2023-24 has said. The concept of green steel promotes the production of steel using green energy sources and minimizing the usage of fossil fuels. "As the world moves towards a low-carbon economy, green steel is poised to play a pivotal role in reshaping the future of the steel industry," said the Survey tabled in Parliament on Monday. India's steel sector accounts for 12 per cent of India's greenhouse gas emissions with an emission intensity of 2.5 tonnes of CO2 per tonne of crude steel compared to the global average of 1.9 tonnes of CO2 per tonne of crude steel, it said. The Survey also said that India remained a net importer of steel during the first, second and third quarters of FY24 because of price differentials between international and domestic prices of finished steel. Low prices in the international markets led to reduce

Eco Survey on cap goods: Potential expansions in industrial capacities seen

The report also anticipated the UAE could become a hub for sourcing India's capital goods and intermediates for further value-added exports to other African and European destinations