Page 5 - Economic Survey

Employment generation is 'real bottom line' for private sector: Eco Survey

The Economic Survey notes that businesses have an obligation to themselves to strike the right balance between deployment of capital and deployment of labour

Remittances to India may grow 3.7% in 2024 to $124 bn: Economic Survey

Remittances to India -- the second largest source of external financing after service exports -- are projected to grow at 3.7 per cent to USD 124 billion in 2024 and at 4 per cent to reach USD 129 billion in 2025, the Economic Survey said on Monday. India's primary source of remittances is oil-exporting countries. According to the World Bank, India has the largest emigrant population and is the top remittance recipient country. In 2023, remittances to India had hit USD 120 billion. "The outlook for remittance in India for 2024 is strong, with the expectation that remittance growth will moderate to 3.7 per cent, taking... levels to USD 124 billion in 2024," the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman said. The diversification of India's migrant pool -- between a large share of highly skilled workers employed mostly in high-income OECD markets, and the less-skilled migrants employed in the GCC markets -- is likely to lend stability to their ...

Stock Market Highlights, July 22: Sensex, Nifty end flat ahead of Budget; RIL, Wipro sink up to 9%

Stock Market Highlights on July 22: In the broader markets, the BSE MidCap, and SmallCap indices snapped their two-day losing run to settle 1.3 per cent and 0.85 per cent higher, respectively

Economic Survey calls upon India Inc to step up hiring, compensation

"It is worth reiterating that job creation happens mainly in the private sector," the survey released on Monday said

Indian GCCs employed more than 16 lakh people in FY23: Economic Survey

The software, internet, and banking, financial services, and insurance (BFSI) sectors collectively accounted for about 58 per cent of India's IT GCC talent, according to the document

Budget 2024: 80% flexi workers earn Rs 20,000 a month, shows Eco Survey

Budget 2024: India employs nearly 5.4 million formal contract staff or flexi workers through organised contract/temporary staffing companies, according to Economic Survey 2024

Increased FDI inflows from China can help India push exports: Eco 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. These economies have typically pursued two main strategies - reducing trade costs and facilitating foreign investment. It added that India faces two choices to benefit from 'China plus one' strategy and that is either to integrate into China's supply chain or promote FDI from China. "Among these choices, focusing on FDI from China seems more promising for boosting India's exports to the US, similar to how East Asian economies did in the past," the Survey, tabled in Parliament by Nirmala Sitharaman on Monday, said. Moreover, choosing FDI as a strategy to benefit from the China plus one approach appears more advantageous than relying on trade. "This is because China

AI, agro-processing, gig economy with most job potential: Economic Survey

Economic Survey 2023-24: The gig workforce is expected to expand to 23.5 million by 2029-30, forming 6.7% of the non-agricultural workforce, and 4.1% of India's total workforce

Overconfidence leading to speculative market activity a concern: Eco Survey

The Indian stock market, the survey said, was among the best-performing markets, with India's Nifty 50 index rising 26.8 per cent during fiscal FY24, as against a drop of 8.2 per cent during FY23

Economic Survey: What it says on trade, private sector investment and more

The Economic Survey 2024 touched on private sector investment, noting visible green shoots but urging caution. Here's why

MGNREGA work demand 'not linked' to rural distress: Economic Survey

Data does not show that states with more poverty and higher unemployment rates use more of the scheme's funds, it says

Unique tax payers trading on NSE more than tripled since pandemic

Numbers are 40 per cent lower than the number of overall investor accounts

Union Budget 2024: Here's what the Economic Survey says about key sectors

The Economic Survey revealed an overall positive report and outlook of key sectors, noting that the uncertain global climate may hamper economic growth going ahead

India has decoupled economic growth from greenhouse gas emissions: Survey

India has successfully reduced the emission intensity of its GDP, the Survey said

Eco survey flags concerns over rising retail participation in heated market

Mcap-to-GDP ratio not necessarily a sign of economic advancement or sophistication, says survey

India's green H2 push facing demand and supply side constraints: Eco Survey

Says diversification of energy sources needed but thermal power to play significant role

CEA Nageswaran bats for re-orientation of farm policies despite subsidies

Chief Economic Advisor V Anantha Nageswaran has called for a pan-India dialogue on the agriculture sector, highlighting the need for policy re-orientation despite existing subsidies and support measures. In the preface to the Economic Survey 2023-24, Nageswaran noted that while the government provides substantial support to farmers through subsidies on water, electricity, and fertilizers, along with income tax exemptions and minimum support prices, there is room for improvement in policy implementation. "A case can be made that they (farmers) can be served better with some re-orientation of existing and new policies," the CEA stated. The survey pointed out that current policies, implemented by both national and sub-national governments, often work at cross-purposes, leading to unintended consequences. These include soil fertility degradation, groundwater depletion, environmental pollution, and nutritional imbalances in crop production and dietary habits. Nageswaran emphasised the .

Banking's dominance in credit diminishing in country: Economic Survey FY24

Capital markets' rise in role a 'welcome development' but comes with its challenges, says survey

Eco Survey calls for action for rising mental health issues among Indians

The Economic Survey on Monday flagged a rise in mental health issues among Indians, calling for a paradigm shift towards a bottom-up, whole-of-community approach to address the problem. Paying attention to mental health in society is both a health and an economic imperative, the policy document asserted while dwelling on the topic in a vast and detailed manner for the first time highlighting the various socio-economic repercussions of the issue. Mental health drags down productivity more widely in the ecosystem than individuals' physical health issues, it noted. Quoting the National Mental Health Survey (NMHS) 2015-16 data, the survey said 10.6 per cent of adults suffered from mental disorders in India while the treatment gap for mental disorders ranged between 70 to 92 per cent for different disorders. Further, as per the NMHS, the prevalence of mental morbidity was higher in urban metro regions (13.5 per cent) as compared to rural areas (6.9 per cent) and urban non-metro areas (4

Pre-budget Eco Survey highlights urgent need for agricultural reforms

The pre-budget Economic Survey on Monday underscored the pressing need for comprehensive reforms in India's agricultural sector, citing structural issues that could impede the country's overall economic growth trajectory. The Survey, tabled in Parliament by Finance Minister Nirmala Sitharaman, identifies several key challenges facing the agriculture sector, including the need to sustain growth while managing food price inflation, improving price discovery mechanisms, and addressing land fragmentation. "Despite its centrality in India's growth trajectory, the agriculture sector continues to face structural issues that have implications for India's economic growth," the Survey said. According to the document, policymakers must strike a delicate balance between incentivizing farmers to increase production and keeping food prices within acceptable limits. This dual objective requires careful policy interventions, the Survey noted. Other critical issues highlighted in the report, prepar