Economy 28
Govt spend on social services up by 1.5% in six years: Eco Survey
According to the Survey, as a proportion of gross domestic product (GDP), the expenditure on social services has registered an increase of 1.5 percentage points during the period 2014-15 to 2019-20 from 6.2% to 7.7%, it said.
Notable turnaround in mineral production due to policy reforms: Survey
India produces as many as 95 minerals which include 4 hydrocarbon energy minerals, including coal and lignite; 5 atomic minerals, 10 metallic, 21 non-metallic and 55 minor minerals.
Survey suggests scrapping of 'anachronistic' Essential Commodites Act 1955
"As the conviction rate, however, is abysmally low and raids have no impact on prices, the ECA only seems to enable rent-seeking and harassment. The Survey provides clear evidence that the case for jettisoning this anachronistic legislation is strong," the document said.
Core sector output shows growth after contracting for four months
The rebound signals that the economy may have bottomed out in the second quarter and may see revival in the third quarter. The news should come as relief for the government ahead of the Budget and may dispel fears surrounding the Indian economy slipping into stagflation.
India on track to meet NDC goals under Paris Agreement: Survey
Swachh Bharat Mission (Urban) was launched in 2014 with twin objectives of ensuring 100 per cent scientific solid waste management and making urban India open defecation free (ODF) to achieve total environmental improvement, the Finance Ministry said in a release.
Push for micro-irrigation says Economic Survey
The Economic Survey say that through government schemes like the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) which was launched in 2015 the area under micro-irrigation was increasing.
5 things about India you probably didn't know before Friday's Economic Survey
The Survey highlighted that there are quite a few signals that the Indian economy may have bottomed out.
India's GDP growth neither over- nor underestimated, says Economic Survey
Recently, Arvind Subramanian, the Narendra Modi government's former chief economic adviser, had said India's economic growth rate has been overestimated by around 2.5 percentage points between 2011-12 and 2016-17 due to a change in methodology for calculating GDP.
Highways sector needs Rs 19.63 lakh crore investment by 2024-25: Economic Survey
Of the total Rs 102 lakh crore investment need for infrastructure projected by the National Infrastructure Pipeline (NIP), during 2020 to 2025, the highways sector will require Rs 19.63 lakh crore, the Survey said.
Eco Survey calls for pro-business policies, strengthening invisible hand of markets
The invisible hand needs to be strengthened by promoting pro-business policies to provide equal opportunities for new entrants, enable fair competition and ease doing business, eliminate policies that undermine markets through government intervention even where it is not necessary, it said.
'Feel good' Budget may see cut in tax rate, sops for social sectors
FM is expected to pull out all stops to spur demand and investment, govt sources and economists said.
Economic Survey suggests cutting subsidy to increase fiscal legroom
Cutting the food subsidy can help provide more fiscal room, according to the Economic Survey.
Fiscal deficit target may be relaxed to arrest declining growth: Economic Survey
The Medium Term Fiscal Policy (MTFP) statement presented with the Budget 2019-20, pegged the fiscal deficit target for 2019-20 at 3.3 per cent of gross domestic product (GDP), which was further expected to follow a gradual path of reduction and attain the targeted level of 3 per cent of GDP in 2020-21, and continue at the same level in 2021-22.
Sales of over 1.7k listed manufacturing firms contracted by 7.7 per cent in Q2: Survey
The Survey, tabled in Parliament on Friday by Finance Minister Nirmala Sitharaman said demand conditions for the manufacturing sector weakened in September quarter of 2019-20 with a contraction in nominal sales, citing RBI studies on corporate performance.
Insolvency law reduces resolution time for stressed assets to 340 days: Economic Survey
The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for market-linked and time-bound resolution of stressed assets. The survey, tabled in the Parliament on Friday, also said resolution under the Code has been much higher as compared to other processes.
Eco Survey: Thalinomics in times of rising prices: Veg, non-veg thalis more affordable
Using the annual earnings of an average industrial worker, it is found that affordability of vegetarian thalis improved 29 per cent from 2006-07 to 2019-20 while that for non-vegetarian thalis improved by 18 per cent.
VN-Index plummets further amidst coronavirus crisis - VnExpress International
The benchmark VN-Index plunged 22.96 points, or 2.39 percent, to 936.62 Friday to reach its lowest level since February 11 last year.
Need to address key challenges in farm sector for doubling farmers' income: Survey
Issues such as investment in agriculture, water conservation, improved yields through better farming practices, access to market, availability of institutional credit, increasing the linkages between agricultural and non-agricultural sectors need urgent attention, it said.
Eco Survey flags 'disproportionate dwarfism' of Indian banks, calls upon PSBs to become efficient
Flagging 'disproportionate dwarfism' of banks, Economic Survey called upon PSBs to become efficient.
View: Public sector bank network, a good idea
It is vital for India to swiftly enact the law on data protection, given the kind of data sharing that has been envisaged in the PSBN.
Corporate tax cut to mostly benefit less than 1 pc of companies: Survey
The corporate tax cut announced by FM last Sept will benefit less than 1 pc of firms, as per Economic Survey.
Uptick in retail prices in FY20 mainly on veggies, pulses: Economic Survey
The Survey has recommended measures to safeguard farmers through procurement under Price Stabilization Fund to help regulate the price volatility of important agri-horticultural commodities and also added that MSP needs to be made more effective. For the current financial year so far, food and beverages emerged as the main contributor to retail inflation.
Government must unleash bold reforms to achieve 6-6.5% growth in FY21, say experts, industry
The chamber said as the Economic Survey is a precursor to the Union Budget, it expects some of the bold reforms highlighting trust, entrepreneurship and primacy of the market to be reflected in the Budget announcements. Leader Economic Advisory Services at PwC India Ranen Banerjee said attaining the projected growth rate of 6-6.5% will be challenging.
Funding National Infra Pipeline would be a 'challenge': Economic Survey 2019-20
To achieve GDP of USD 5 trillion by 2024 – 2025, India needs to spend about USD 1.4 trillion (Rs.100 lakh crore) over these years on infrastructure so that lack of infrastructure does not become a constraint to the growth of Indian economy, the survey said.
Production pattern is not in sync with the demand: The Economic Survey 2019-20
The survey said that the share of cereals declines steadily as MPCE level increases, from about 19 per cent for the bottom decile class of rural India to about 5-6 per cent for the top decile class, and from 15 per cent for the bottom decile class of urban India to under 3 per cent for the top decile class.
Economic Survey 2020 has a clear message for Nirmala Sitharaman
Growth in the current fiscal year would come in at 5 per cent, as per Economic Survey.
Smart City Mission: 5,151 projects at various stages of implementation, says Survey
Talking about achievements of 'Smart Cities Mission' (SCM), the Survey said all 100 cities under the mission have incorporated SPVs, City Level Advisory Forums (CLAFs) and appointed Project Management Consultants (PMCs). "Since the launch of the mission, 5,151 projects worth more than Rs 2 lakh crore are at various stages of implementation in the 100 cities," it added.
BofA sees Eskom among risks to spoil brief SA rally
'Investors are getting impatient and are looking for opportunities elsewhere' – investment strategist.