Page 26 - Budget 2020

Eco Survey gives positive outlook for steel, oil and gas sectors: Pradhan

The Economic Survey 2019-20 points to increasing steel production and consumption and easing of crude prices, indicating positive outlook for steel and oil and gas sectors, Union minister Dharmendra Pradhan said on Friday. The Economic Survey, tabled in Parliament by Finance Minister Nirmala Sitharaman, said India produced 64.3 million tonnes (MT) of crude steel and 59.73 MT of finished steel during April-October 2019-20. The sector achieved a growth of 5.2 per cent during April-November period of the ongoing financial year as compared to 3.6 per cent in the year-ago period, it added. In a tweet, Petroleum & Natural Gas and Steel Minister Dharmendra Pradhan said, "#EconomicSurvey also points to increasing steel production and consumption, easing of crude prices all indicating positive outlook for steel and oil and gas sectors." The National Infrastructure Pipeline of Rs 102 lakh crore will facilitate growth, create infra for future and ease lives of common citizens, he said in ...

Economic Survey: IBC reduces resolution time to 340 days from 4.3 years

The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for market-linked and time-bound resolution of stressed assets

Citizen suffers as wilful defaults take toll on welfare schemes: Eco Survey

According to the Survey, promoters at the helm of defaulting firms pledge almost 50 per cent of their shareholding to lenders on average

Fiscal deficit hits 132% of estimate till Dec on slow revenue collection

The government aims to restrict the gap at 3.3 per cent of the GDP or Rs 7,03,760 crore in the year ending March 2020

Economic Survey: New firm creation higher in services sector than mfg, agri

The survey also said that there is a need to invest in ramping up India's statistical infrastructure. It also said that India has made impressive improvements in several social development indicators

Economic Survey launches 'Health Score' to detect liquidity issues in NBFCs

The Economic Survey on Friday unveiled an early-warning system, 'Health Score', that could read signs of impending rollover risk problems in the non-banking finance sector. The IL&FS crisis following debt defaults in 2018 had led to a contagion in the domestic non-banking financial company (NBFCs) sector. The 'Health Score', developed for NBFC and housing finance company (HFCs) sectors, can help detect early-warning signals of impending liquidity problems facing the companies in the sectors. The Survey, presented in Parliament by Finance Minister Nirmala Sitharaman on Friday, said the Health Score could be used to provide early warning signals of impending rollover risk problems in the NBFC sector and help set prudential threshold of permitted funding to the sector. A sudden payment default without any prior warning by Infrastructure Leasing and Financial Services (IL&FS) in August 2018 had triggered panic and caused liquidity crisis in the NBFC sector. Quoting the recent ...

Top headlines: Eco Survey 2019-20, Wipro's Abidali Neemuchwala steps down

Economic Survey for 2019-20 was tabled in Parliament on Friday and projected the country's gross domestic product (GDP) to grow between 6 - 6.5 per cent in financial 2020-21 (FY21)

Eco Survey flags disproportionate dwarfism of banks, calls to be efficient

The Economic Survey 2019-20 tabled in Parliament by Finance Minister Nirmala Sitharaman noted that despite nationalisation a significant portion of the poor remained unbanked till 2014

Economic Survey: Sales of over 1.7k mfg firms contracted by 7.7% in Q2

Net profit for the manufacturing sector contracted in Q1 (June quarter) of 2019-20, mainly due to a production slowdown, it added

Pvt sector share in National Infra Pipeline to hit 30% by 2025: Eco Survey

Two-thirds of the pipeline is already firmed up; projects of certain states likely to be added to in due course

Economic Survey: 5,151 smart city projects at various levels of execution

On Pradhan Mantri Awas Yojna-Urban (PMAY-U) programme, the Survey said the scheme was launched in June, 2015 to provide "pucca" house with basic amenities to all eligible urban poor

Economic survey: Slowdown bottomed out, uptick from here onwards, says CEA

The Economic Survey 2019-20, prepared by a team lead by Subramanian, has projected the GDP to expand in the range of 6-6.5 per cent during 2020-21

Govt must support pro-business policies to be a $5-trn economy: Eco Survey

The survey said the exponential rise in India's GDP and GDP per capita post liberalisation coincides with wealth generation in the stock market

Wealth creation to Thalinomics: All you must know about Economic Survey '20

The overarching theme of the Economic Survey 2019-20 is creation of wealth over time and the implementation of policies that act as enablers in creation of this wealth

GDP growth neither over nor underestimated, data woes baseless: Eco Survey

The Economic Survey tabled in Parliament on Friday said the level and growth of a country's GDP informs several critical policy initiatives as it is a barometer of the economy's size and health

Rural students spend more in books, uniform, stationery than urban: Survey

Among those who were enrolled, drop-out rate was as high as 10 per cent at primary level, 17.5 per cent at upper primary/middle, and 19.8 per cent at secondary level, the survey added.

Uptick in retail prices in FY20 mainly on veggies, pulses: Survey

The Economic Survey 2019-20, presented in Parliament by Finance Minister Nirmala Sitharaman stated that inflation has been witnessing moderation since 2014, however, recently there has been an "uptick

Economic Survey: Need to address challenges in farm sector to double income

The food processing sector is growing at an average annual growth rate of more than 5 per cent over the last six years ended 2017-18, it added

Notable turnaround in mineral production due to policy reforms: Survey

The production of major minerals during 2018-19 has recorded a growth of 25 per cent over previous year in terms of value, it said

India forecasts faster economic growth, warns of fiscal challenge

The government estimates GDP will grow 5% this fiscal year, which ends on March 31. That would be the slowest growth since the global financial crisis of 2008-09