Economic Survey 2025: India's unemployment rate for those 15+ fell from 6% in 2017-18 to 3.2% in 2023-24; urban joblessness dropped from 6.6% in Q2FY24 to 6.4% in Q2FY25
The Economic Survey 2024-25 highlights 3.5 per cent growth in India's agriculture sector, with a strong focus on horticulture, livestock, and fisheries as key growth drivers
Budget 2025: GDP projections in line with international agencies including International Monetary Fund (IMF), Asian Development Bank (ADB), and World Bank
The Economic Survey is likely to project a 6.3-6.8 per cent GDP growth for the next fiscal year, sources said. The Survey 2024-25, authored by Chief Economic Advisor V Anantha Nageshwaran and his team, will be tabled in Parliament this afternoon. India's GDP is projected to grow at a 4-year low pace of 6.4 per cent in the current fiscal on weak manufacturing and investments, as per estimates of the National Statistics office. This is lower than the growth projected in last year's Economic Survey of 6.5-7 per cent and the Reserve Bank of India's 6.6 per cent estimate. The Economic Survey, tabled every year a day ahead of the Union Budget, gives a broad roundup on macroeconomic performance of the ongoing fiscal and a glimpse of how the next fiscal is likely to pan out.
The first part of the Budget session will continue till February 13 and the two Houses will again meet on March 10 after recess with the session concluding on April 4
Back home, at 6:40 AM, GIFT Nifty futures indicated a strong start, up 71 points at 23,489
The presentation of the Economic Survey marks the beginning of the Budget session in Parliament, which runs from January 31 to April 4, 2025
Congress leader P Chidambaram released the report prepared by the party's Research Department, which former Rajya Sabha M V Rajeev Gowda heads
President Droupadi Murmu will address a joint sitting of the Upper and Lower Houses on January 31, after which the Economic Survey will be tabled
Unincorporated sector enterprises witnessed a 10.01 per cent increase in employment to over 12 crore during the year ended September 2024, while the number of establishments rose 12.28 per cent to 7.34 crore, according to a government survey. The survey, which covers unincorporated non-agriculture sector enterprises, showed gross value added (GVA) grew 16.52 per cent during the October 2023 - September 2024 period. These findings form part of the Annual Survey of Unincorporated Sector Enterprises (ASUSE) for 2023-24 for the reference period -- October 2023 - September 2024 -- referred to as ASUSE 2023-24, released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday. The sector employed more than 12 crore workers between October 2023 and September 2024, marking an increase of more than one crore workers from 2022-23 and reflecting robust labour market growth. The total number of workers employed increased to 12,05,99,800 in ASUSE 2023-24 from 10,96,26,000 i
Deregulation to be big theme of Eco Survey
Shift to new tax regime, steady rates affect collections
A shift in focus towards private investment is required to sustain the growth momentum. This should be a concern for policymakers
Speaking at Kautilya Economic Conclave, Finance Minister Nirmala Sitharaman noted that while it took the country 75 years to achieve a per capita income of $2,730, the next leap will be much faster
Here is the best of Business Standard's opinion pieces for today
The ministry added that both the consumer and industrial outlook surveys, which showed a declining trend, need to be monitored for future trends
The credit rating agency expects India's GDP to grow by 6.8 per cent for the full fiscal year 2024-25, lower than the 8.2 per cent achieved in 2023-24
High cost of doing business and geopolitics limit opportunities
In a volatile global landscape, sustained growth rate of more than 7 per cent is quite a challenge
While the interests of famers need to be protected, it would further complicate monetary and macroeconomic management