Page 29 - Economic Survey

Litigation turning out to be a big hurdle for IBC: Economic Survey

Cites World Bank's Ease of Doing Business report, which said it takes 1,445 days to resolve a commercial contract in India, versus 589.6 days in OECD high income countries, 120 days in Singapore

No 'jugaad': Businesses must raise R&D spend, says Economic Survey

India's gross expenditure on R&D is 0.65% of GDP, significantly lower than top 10 economies' spend of 1.5-3%

Bare necessities: Economic Survey takes a leaf out of 'Jungle Book'

Kerala, Punjab, Haryana, and Gujarat have highest access to basic amenities

Highways construction to regain high pace of pre-Covid level: Eco Survey

Highways construction will regain fast-pace of the pre-Covid level on the back of multiple initiatives, the survey said

Economic survey 2020-21: Promise of a counter cyclical fiscal stance

While this will mean material deviation from the FRBM road map, we feel that a decisive and credible stance on near-term fiscal deficit and FRBM targets is the need of the hour

Output of eight core industries contracts 1.3% in December 2020

During April-December 2020-21, the sectors' output declined by 10.1 per cent against a growth rate of 0.6 per cent in the same period of the previous year

India's fiscal deficit soars to Rs 11.6 trillion at December end

According to the data released by the Controller General of Accounts (CGA), the fiscal deficit at the end of December in the previous fiscal year was 132.4 per cent of the BE of 2019-20

Budget for the victims: Some silent crises for Ms Sitharaman to address

A consumption boost through continued pay-outs for another year to those at the bottom of the pyramid, and still more money for the employee guarantee scheme should be in order, writes T N Ninan

Startup ecosystem can become India's growth engine in long run: Eco Survey

Indian startup ecosystem, which defied odds during a pandemic-hit year to create record 12 unicorns, has the potential to be the engine of growth in the medium to long run, the Economic Survey said

New farm laws will have multiple benefits for farmers: CEA Subramanian

Amid the ongoing controversy over the three new farm laws, Chief Economic Adviser K V Subramanian on Friday said legislations will have multiple benefits for the farmers. Farmers, mainly from Punjab, Haryana and UP, are protesting against the Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Act, 2020, the Farmers Produce Trade and Commerce (Promotion and Facilitation) Act, 2020, and the Essential Commodities (Amendment) Act, 2020. "We are economists and talk about economics. And economics says that it (the farm laws) has many benefits," Subramanian said during a press conference. Enacted in September, the three farm laws have been projected by the central government as major reforms in the agriculture sector that will remove the middlemen and allow farmers to sell anywhere in the country. However, the protesting farmers have expressed apprehension that the new laws would pave the way for eliminating the safety cushion of Minimum Support Price and

Rising Bangladesh exports hold lessons for India: Economic Survey

The Economic Survey 2021 on Friday suggested that India can take some "lessons" from Bangladesh, a strong exporting nation, and focus on specialising in products in which it is competitive. It said that Bangladesh seems poised to emerge as a dominant exporter as its outbound shipments posted an impressive compounded annual growth rate (CAGR) of 8.6 per cent during 2011-2019, compared to 0.9 per cent for India and 0.4 per cent for the world. Bangladesh's share in world exports has increased from 0.1 per cent in 2011 to 0.3 per cent in 2019. The top five export commodities (from labour intensive sectors such as textiles, apparels and footwear) account for more than 90 per cent of the total exports of Bangladesh since 2015, it said. In case of India, on the other hand, export performance is more broad-based as the top five export commodities jointly constitute around 40 per cent of total exports and these goods are capital and technology-intensive, it added. Quoting the data of ...

Improved monetary policy transmission brings down interest rate: Eco Survey

The Economic Survey on Friday said that the monetary policy transmission has improved resulting in fast lowering of interest rate for borrowers.

50 mn trees by 2030 as part of clean coal initiative: Eco Survey

Plans are afoot for plantation of 50 million trees on 20,000 hectare of land by 2030 as part of clean coal initiatives, the Economic Survey for 2020-21 said on Friday.

Markets faced corrections due to Covid uncertainty in early FY21: Survey

There were some significant corrections due to COVID-19 induced uncertainty in the beginning of this financial year, however both Nifty-50 and BSE Sensex recovered strongly afterwards, according to the Economic Survey 2020-21 tabled in the Parliament on Friday. It said that the BSE benchmark index rose 68.9 per cent till January 20, 2021. During 2020-21 (up to January 20, 2021), India's benchmark indices Nifty-50 and BSE Sensex reached record highs of 14,644.7 and 49,792.1, respectively on January 20, 2021, the survey said. "There were some significant corrections due to COVID-19 induced uncertainty in the beginning of this financial year, however both Nifty50 and S&P BSE Sensex index recovered strongly afterwards," it said. During the same period, the Nifty-50 index of NSE gained 70.3 per cent from March 31, 2020 to January 20, 2021. India VIX, an index circulated by NSE which indicates the degree of fluctuation that can be expected in Nifty-50 index by active traders over the ...

Forbearance an 'emergency medicine' not 'staple diet': Eco Survey

The government must get rid of the forbearance window, provided by banks to borrowers due to COVID-19 induced economic challenges, as soon as the economy starts to revive, the Economic Survey said

Economy to witness 'V-shaped' rebound with 11% growth in FY22: Eco Survey

The rebound will follow an estimated 7.7 per cent contraction in the Gross Domestic Product (GDP) in the current financial year ending March 31

India's debt levels to reduce even in low-growth scenario, says CEA

CEA said growth leads to debt sustainability and even if India were to have real GDP growth rate as low as 3.8% each year from 2022-23 to 2028-29, the country's debt levels will still come down

School students owning smartphone in rural India up 61% in 2 yrs: Survey

The percentage of school students owning a smartphone in rural India has increased from over 36 per cent to 61 per cent in the last two years, the Economic Survey 2020-21 noted

Need to see farming as modern biz enterprise; reforms needed: Eco Survey

The Economic Survey on Friday suggested the government to see farm sector as a "modern business enterprise" for which "urgent reforms" are required to enable sustainable and consistent growth

Reduced data cost could enable affordable access: Economic Survey

Internet and broadband penetration across both urban and rural areas progressed rapidly, and the reduced cost of data could enable the affordable access at a fast pace, Economic Survey said