Page 13 - Latest Updates on Economic Survey
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
 "India's fiscal deficit soars to Rs 11.6 trillion at December end")
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
 "Startup ecosystem can become India's growth engine in long run: Eco Survey")
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.
 "New farm laws will have multiple benefits for farmers: CEA Subramanian")
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.
 "Rising Bangladesh exports hold lessons for India: Economic Survey")
Eco Survey bats for sustained, calibrated measures to facilitate recovery
Economic Survey is rich in analysis and comparisons with international data and this makes it an important policy document as has been the case in previous years
 "Eco Survey bats for sustained, calibrated measures to facilitate recovery")
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.
 "Improved monetary policy transmission brings down interest rate: Eco Survey")
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.
 "50 mn trees by 2030 as part of clean coal initiative: Eco Survey")
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
 "Economy to witness 'V-shaped' rebound with 11% growth in FY22: Eco Survey")
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
 "Forbearance an 'emergency medicine' not 'staple diet': Eco Survey")
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, the Survey said
 "Markets faced corrections due to Covid uncertainty in early FY21: Survey")
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
 "India's debt levels to reduce even in low-growth scenario, says CEA")
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
 "School students owning smartphone in rural India up 61% in 2 yrs: Survey")
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
 "Need to see farming as modern biz enterprise; reforms needed: Eco Survey")
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
 "Reduced data cost could enable affordable access: Economic Survey")
Need to promote non-discriminatory practices at workplace for women: Survey
There is a need to promote non-discriminatory practices at the workplace like pay and career progression, improving work incentives and social security benefits for women, said the Economic Survey
 "Need to promote non-discriminatory practices at workplace for women: Survey")
NPPA ensured availability of essential drugs during pandemic: Eco Survey
Drug pricing regulator NPPA undertook necessary steps to ensure availability of life saving essential medicines across the country during the COVID-19 pandemic, the Economic Survey said on Friday.
 "NPPA ensured availability of essential drugs during pandemic: Eco Survey")
IT-BPM sector saw recovery in revenue growth at 7.9% in FY20: Eco Survey
The Indian IT-BPM sector witnessed a recovery in revenue growth at 7.9 per cent in FY2019-20, primarily driven by a significant boost in domestic revenue, as per the Economic Survey 2020-21
 "IT-BPM sector saw recovery in revenue growth at 7.9% in FY20: Eco Survey")
Taxpayer grievance redressal system needs more teeth: Economic Survey
The government should reinvigorate the taxpayer grievance redressal system by giving it more teeth and making it independent of the tax department to help build trust in tax admin, the Survey said
 "Taxpayer grievance redressal system needs more teeth: Economic Survey")
India reaping 'lockdown dividend' by saving lives, livelihood: Eco Survey
India is reaping the "lockdown dividend" from the preventive measures it adopted at the onset of the COVID-19 pandemic indicating its willingness to take short-term pain for long-term gain
 "India reaping 'lockdown dividend' by saving lives, livelihood: Eco Survey")
India only emerging market to get equity FPI inflows in 2020: Eco Survey
The country attracted $30 billion in the first nine months of the year
 "India only emerging market to get equity FPI inflows in 2020: Eco Survey")
