Page 23 - Budget 2023

Economic Survey 2022-23: Reforms, capital expenditure push to aid growth

Ahead of Budget, lays focus on government capex, fiscal consolidation and lauds PLI Ahead of Budget, lays focus on government capex, fiscal consolidation and lauds PLI

Govt procurement portal GeM catching up with Amazon, Flipkart: Eco Survey

Healthy growth in the procurement of goods and services by central and state governments through GeM portal is helping the platform to catch up with global e-commerce giants like Amazon and Flipkart, the Economic Survey said on Tuesday. The Government e-Market (GeM) portal was launched on August 9, 2016 by the commerce ministry for online purchases of goods and services by all the central government ministries and departments and other agencies including public sector units. Procurement of goods and services from the portal has crossed Rs 1 lakh crore till November 29 this fiscal on account of an increase in buying activities. "The GeM has witnessed tremendous growth in gross merchandise value and is catching up with e-commerce giants like Amazon and Flipkart," the survey said, adding, "GeM attained an annual procurement of Rs 1 lakh crore within fiscal year 2022, representing a 160 per cent growth compared to last FY (fiscal year)". GeM CEO P K Singh had earlier stated that going

India needs carefully crafted multi-dimensional mineral policy: Eco Survey

The country needs a carefully crafted multi-dimensional mineral policy to address the issues posed by uneven distribution of rare earth elements, the Economic Survey on Tuesday said. Cobalt, copper, lithium, nickel, and rare earth elements (REEs) are critical for producing electric vehicles and batteries and harnessing solar power and wind energy. "While the demand for critical minerals is set to increase because of the global preference and emphasis towards renewable energy, the global supply chain of the critical minerals is highly concentrated and unevenly distributed. The skewed distribution of the resource poses a supply risk in the face of its enhanced demand. "A carefully crafted multi-dimensional mineral policy would reduce our dependence and address the problems for the future," the Economic Survey 2022-23 said. The country has resources of nickel, cobalt, molybdenum and heavy REEs, but further exploration would be required to evaluate the quantities of their reserves. Th

Prompt measures by govt, RBI contained inflation: Economic Survey

A rising phase up to April 2022 when it crested at 7.8 per cent, then a holding pattern at around 7 per cent up to August 2022 and then a decline to around 5 per cent by December 2022

Economic Survey: GDP growth expected to reduce, but govt finances improving

Private investment is picking up, and IT services exports remain resilient

Indian factories growing larger, getting clustered: Economic Survey

Number of persons engaged in larger factories was up 13.7 per cent compared to 4.6 per cent in smaller factories

Economic Survey: Start-up jobs increase 6x even as funding declines

Tracxn data shows that investments in domestic start-ups declined by 38.8% to $25.8 bn in 2022

Telangana logged highest inflation in FY23, reveals Economic Survey

The report also shows that the inflation in rural Telangana was 9.2 per cent while it was 8.3 per cent in the urban areas

CAD may reach manageable levels in second half of FY23: Economic Survey

This could be owing to cheaper crude oil, resilient net services exports and buoyant inward remittances

Rupee slides 43 paise on risk aversion ahead of Budget, Fed statement

Govt bond yields decline ahead of Budget statement as traders feel the fall in prices over the past week had been overdone

A realistic survey of the Indian Economy

The upshot of the above figures is that despite being faced with a highly challenging external environment this year, overall, the India economy will emerge from it relatively unscathed

India budget will be ray of hope for world amid economic turmoil: PM Modi

Prime Minister Narendra Modi on Tuesday said amid global economic turmoil, India's budget will attempt to meet the hopes and aspirations of common citizens and be a ray of hope for the world. Addressing the media ahead of the Budget Session of Parliament, Modi said recognised voices in the world of economy were bringing positive messages from all sides. The prime minister said the Budget, to be presented by Finance Minister Nirmala Sitharaman on Wednesday, will strive to fulfil people's hopes, aspirations and also boost the hopes with which the world is looking at India. "The ray of hope being seen by the world will glow brighter -- for this, I firmly believe the finance minister will make all efforts to meet these aspirations," Modi said. He also noted that President Droupadi Murmu was delivering her maiden address to the joint sitting of Parliament at the start of the Budget Session. The President's speech is the pride of the Constitution of India, the pride of India's parliamen

Economic Survey primer: Here are short notes on key economic policy issues

A few nuggets from the survey - recouping what was lost, and re-energising what had slowed down

Eco Survey projects FY24 GDP growth at 6-6.8%, sees investments picking up

Commodity prices will raise total import bill and add to unfavourable developments in current account balance, it says

India Inc's capex juggernaut on the roll, says Economic Survey 2023

Private capex at Rs 3.3 trillion recovers in first half FY 2023 vs Rs 2.6 trillion in first half of 2022

Public-private synergy set to boost climate-resilient infra: Eco Survey

This also comes as India has been trying to crowd in private investment for infrastructure ever since the onset of Covid-19 in 2020

Eco Survey: FDI, IPOs, simplified rules may accelerate M&As in insurance

The Survey points out that the highly competitive sector is already witnessing M&As as insurers have huge opportunities and volume to co-exist in the space

Real rural wages expected to rise as inflation eases: Economic Survey

Survey says agriculture needs 'reorientation' in view of new challenges

Rs 7.3 trn debt settled before initiating insolvency: Economic Survey

However, concerns have lately been raised over declining rates of recovery in comparison to their claims admitted through the IBC mechanism, resulting in large haircuts for lenders

Credit growth to sustain and spark virtuous cycle: Economic Survey

The year-on-year (YoY) growth in non-food bank credit sped up to 15.3 per cent in December 2022, with the credit growth broad-based across sectors, the Survey said