Page 26 - Latest Updates on Budget 2025-26

Economic Survey: Independent agency mooted to assess financial regulations

May be tasked with providing an impartial, objective assessment of regulatory processes and outcomes

Economic Survey 2025 warns of 'meaningful stock market correction' in 2025

Many investors that entered the market post-pandemic have never witnessed a significant and prolonged market correction, the Economic Survey 2025 said

Economic Survey 2024-25 outlines reforms agenda for 'Viksit Bharat'

The Survey, while underplaying the short-term outlook, takes a wider and long-term perspective on growth and presents a reform agenda in order to achieve the 2047 goal

Prayed to Goddess Lakshmi to bless poor, middle-class: PM Narendra Modi

The PM said that on the occasion of the start of the Budget Session, it is customary to remember Goddess Lakshmi, who bestows wisdom, prosperity, and welfare

Eco Survey primer: Dragon's growing shadow, sowing seeds of success, more

Quoting the Chinese proverb, "May we live in interesting times!" the Survey noted that it is especially relevant in today's turbulent world

Markets rebound 3% ahead of Union Budget on hopes of growth measures

For the Nifty, this was the fourth consecutive monthly decline and the most prolonged continuous monthly fall in 23 years. In the past four months, the Nifty declined by 9 per cent

Global roles in GCCS to grow over three-fold to 30,000 by 2030: Eco Survey

Global roles within Global Capability Centres (GCCs) established in India are expected to grow over four-fold to 30,000 by 2030, the Economic Survey 2024-25 said on Friday. According to experts, the view of the companies across the globe for India is changing from being a low-cost destination to centre for innovation and highly skilled talents that is leading to more global roles coming to the country. The survey said India has established itself as a prominent player in leveraging its vast talent pool, which accounts for 28 per cent of the global (science, technology, engineering, mathematics) STEM workforce and 23 per cent of the global software engineering talent. "Over the past decade, the GCC ecosystem in India has matured significantly, advancing into high-end engineering roles such as product managers and architects, with 35 per cent of transformation hubs exhibiting a strong presence of architects. "Furthermore, global roles within GCCs are expanding rapidly, expected to gr

Salaried, self-employed real wages below 2017-18 levels: Eco Survey

Corporate profits grew 22.3% in FY24 and employment 1.5%, it says

Agri credit disbursement hits Rs 19.28 trillion in first 3 quarters of FY25

The Finance Ministry on Friday said the Ground Level Agriculture Credit (GLC) has crossed Rs 19 lakh crore in nine months of the current fiscal as against the target of Rs 27.50 lakh crore for the entire FY25. Against the target of Rs 27.50 lakh crore, agriculture credit to the tune of Rs 19.28 lakh crore has been disbursed as of December 31, 2024, registering 70 per cent achievement, the finance ministry said in a statement. In order to boost the credit to the rural sector with the help of effective and hassle-free agriculture credit, the government has been fixing annual targets for GLC. Over the past decade (2014-15 to 2023-24), agricultural credit disbursement has witnessed an average annual growth rate of more than 13 per cent, reflecting the increasing financial support extended to the sector. In the financial year 2023-24, agricultural credit disbursement reached Rs 25.48 lakh crore. For 2024-25 the Government of India has set GLC target of Rs 27.5 lakh crore with a dedicat

China's manufacturing prowess to bear on India's growth story: Eco Survey

Chinese manufacturing prowess and its dominance in the strategic sector will have a bearing on India's growth projection in the medium term and its march to become a developed nation by 2047, the Economic Survey said on Friday. The Survey has said India needs to grow at 8 per cent for about two decades to become a developed nation by 2047, but it will have to face challenges from global developments and reliance on Chinese imports. "While the desirability of this growth rate is unquestionable, it's important to recognise that the global environment political and economic will influence India's growth outcomes," the Economic Survey 2024-25 said. The survey said fundamental shifts in global economic engagement are underway with the proliferation of trade and investment restrictions. Between 2020 and 2024, over 24,000 new restrictions related to trade and investments have gone into place globally. The survey made a case for "acknowledging the elephant (and the dragon) in the room th

Rupee performed better than currencies of Canada, Korea, Brazil: Eco Survey

The Indian rupee depreciated a modest 2.9 per cent in the first nine months of the current fiscal, performing better than other currencies like the Canadian Dollar, South Korean Won and the Brazilian Real, according to the Economic Survey tabled in Parliament on Friday. The value of the Indian Rupee (INR) is market-determined, with no target or specific level or band. Various domestic and global factors influence the exchange rate of the INR, such as the movement of the Dollar Index, trends in capital flows, level of interest rates, movement in crude prices, and current account deficit. "In the first nine months of FY25 (up to 6 January 2025), the INR depreciated a modest 2.9 per cent, performing better than currencies such as the Canadian Dollar, South Korean Won and the Brazilian Real, which depreciated by 5.4 per cent, 8.2 per cent and 17.4 per cent, respectively, during the same period," it said. One of the primary factors behind the rupee depreciation during 2024 has been the .

IRDAI Caps Premiums, RBI Takes Over, Economists Want Liquidity, RBI Warns Fraud & Unions Seek Exemption

IRDAI limits premium hikes for senior citizens RBI takes over Aviom India Housing Finance Economists advocate for more liquidity, not just rate cuts RBI Governor flags digital fraud concerns

CEA's 'get out of the way' advice to govt most sensible: Ex-FM Chidambaram

Former Finance Minister P Chidambaram has called the Economic Survey 2025 a 'powerful indictment' of the Modi government's economic policies, citing key observations by the Chief Economic Advisor

Credit growth moderates in personal loan segment in Dec: RBI data

Bank credit to personal loan segment moderated to 14.9 per cent year-on-year in December, largely due to decline in growth in 'other personal loans', 'vehicle loans' and 'credit card outstanding', according to Reserve Bank data released on Friday. The RBI has released data on sectoral deployment of bank credit for December 2024 collected from 41 select commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all commercial banks. On a year-on-year (y-o-y) basis, growth in non-food bank credit as on the fortnight ended December 27, 2024 moderated to 12.4 per cent as compared to 15.8 per cent for the corresponding fortnight of the previous year. According to the data, bank credit to agriculture and allied activities registered a growth of 12.5 per cent (y-o-y) as on the fortnight ended December 27, 2024 (19.4 per cent for the corresponding fortnight of the previous year). Further, credit growth to industry remained almost flat at 7.4 per cent ...

India sees 17.9% increase in FDI inflows, at $55.6 bn in Apr-Nov in FY25

Economic Survey 2025: India's foreign direct investment between April 2000 and September 2024 surpassed the $1 trillion mark

Economic Survey 2025 calls for 'health tax' on ultra-processed food items

The Economic Survey 2025 highlighted the urgency of regulatory measures, recommending that the FSSAI establish clear definitions, labelling requirements, and stringent monitoring of UPFs

India a net steel importer in Apr-Nov amid price pressures: Eco Survey

India remained a net importer of steel even as the industry faced price pressures, the Economic Survey 2024-25 said on Friday. The decline in export of finished steel during FY25 was mainly driven by gaps between international and domestic prices, the pre-Budget document for the 2024-25 fiscal year said. The survey said India has been a net importer of steel from April to November period of the ongoing financial year, even as companies faced price pressures and lower global prices. The low price in the international market during this period resulted in a low margin on exports and cheaper imports, it said. Capacity utilisation in manufacturing remains above the long-term average, and private sector order books have shown steady growth, alongside a rise in investment intentions. However, these gains could be tempered by the global excess capacities in sectors such as steel, leading to aggressive trade policies in search of demand, the survey pointed out. On steel demand in India,

Viksit Bharat 2047 achievable with focus on manufacturing: Deloitte

The target of India achieving the status of a developed nation, or Viksit Bharat by 2047, seems "achievable", consultancy firm Deloitte India said on Friday advocating for a sharp focus on manufacturing and services, and measures to rein in inflation. The Economic Survey 2024-25, tabled in Parliament on Friday, said India needs to grow by 8 per cent on an average for at least a decade to become a developed nation by 2047. "According to our calculation, we need 7 per cent growth at least to get to USD 30 trillion by 2047. That's a math we did assuming a 4 per cent inflation rate and about one and a half per cent depreciation. "I think the momentum that India needs is in the services sector and the manufacturing sector. Because that is where the growth potential lies. And not in just every sector, but in the high value added segments," said Rumki Majumdar, Economist, Deloitte India. In an interview with PTI, she said 8 per cent could be challenging for some years especially when the

China's dominance in EV supply chain a concern, says Economic Survey

Between April and October 2024, China emerged as India's largest import partner, with imports rising by 9.8 per cent to $65.89 billion, according to data from the Ministry of Commerce

Economic Survey FY25 warns of energy risks amid India's green transition

Chief Economic Advisor V. Anantha Nageswaran, in the survey's preface, emphasised the need for "strategic thinking" to avoid geopolitical risks