Page 11 - Indian Economy

We shouldn't be mechanical about fiscal deficit targets: CEA Nageswaran

In an exclusive interaction with Arup Roychoudhury and Asit Ranjan Mishra, V A Nageswaran said that budget deficit targets should be solely decided by debt levels are sustainable

Economic Survey 2022-23: Reforms, capital expenditure push to aid growth

Ahead of Budget, lays focus on government capex, fiscal consolidation and lauds PLI Ahead of Budget, lays focus on government capex, fiscal consolidation and lauds PLI

India needs carefully crafted multi-dimensional mineral policy: Eco Survey

The country needs a carefully crafted multi-dimensional mineral policy to address the issues posed by uneven distribution of rare earth elements, the Economic Survey on Tuesday said. Cobalt, copper, lithium, nickel, and rare earth elements (REEs) are critical for producing electric vehicles and batteries and harnessing solar power and wind energy. "While the demand for critical minerals is set to increase because of the global preference and emphasis towards renewable energy, the global supply chain of the critical minerals is highly concentrated and unevenly distributed. The skewed distribution of the resource poses a supply risk in the face of its enhanced demand. "A carefully crafted multi-dimensional mineral policy would reduce our dependence and address the problems for the future," the Economic Survey 2022-23 said. The country has resources of nickel, cobalt, molybdenum and heavy REEs, but further exploration would be required to evaluate the quantities of their reserves. Th

Economic Survey: GDP growth expected to reduce, but govt finances improving

Private investment is picking up, and IT services exports remain resilient

A realistic survey of the Indian Economy

The upshot of the above figures is that despite being faced with a highly challenging external environment this year, overall, the India economy will emerge from it relatively unscathed

Economic Survey primer: Here are short notes on key economic policy issues

A few nuggets from the survey - recouping what was lost, and re-energising what had slowed down

Eco Survey projects FY24 GDP growth at 6-6.8%, sees investments picking up

Commodity prices will raise total import bill and add to unfavourable developments in current account balance, it says

Economic Survey 2022-23: Industry and services regaining momentum

Gross value added in the industrial sector posted a stro­ng upturn, registering a growth rate of 3.7 per cent in H1, FY23, higher than the average growth of 2.8 per cent in H1 of the last decade

Latest LIVE: 12 dead in massive fire at multi-storey building in Dhanbad

Catch all the latest Budget 2023-24 news and updates here

India's April-Dec fiscal deficit touches 60% of full-year target: Govt data

Net tax receipts rose to Rs 15.56 trillion while total expenditure was Rs 28.18 trillion, the data showed

Core sector growth at three-month high of 7.4% in December: Govt data

Production of eight infrastructure sectors rose at a three-month high of 7.4 per cent in December 2022 against 4.1 per cent in the same month of previous year on a better show by coal, fertiliser, steel, and electricity segments, according to the official data released on Tuesday. Crude oil output, however, contracted by 1.2 per cent in December last year. The production of eight key sectors rose by 5.7 per cent in November 2022. The growth rate of eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- stood at 8 per cent in April-December this fiscal as against 12.6 per cent during the same period last fiscal. The production of coal rose by 11.5 per cent, fertiliser by 7.3 per cent, steel by 9.2 per cent, and electricity by 10 per cent in December 2022 compared to a year ago. Core sector or key infrastructure industries, which have a 40.27 per cent weight in the overall index of industrial production (IIP), a

Why state must cede power to communities

The general assumption that states must have a monopoly of power is fundamentally flawed. It is leading to broken societies

Optimistic outlook

Higher growth will need more reforms

Eco Survey presents comprehensive analysis of India's growth trajectory: PM

Prime Minister Narendra Modi on Tuesday said the Economic Survey 2022-23 presents a comprehensive analysis of India's growth trajectory, including the global optimism towards the country. Modi tweeted, "The Economic Survey presents a comprehensive analysis of India's growth trajectory including the global optimism towards our nation, focus on infra, growth in agriculture, industries and emphasis on futuristic sectors." India's economy is projected to slow to 6.5 per cent in the fiscal year starting April but will remain the fastest growing major economy in the world as it fared better in dealing with the extraordinary set of challenges the globe has faced, the Economic Survey said.

Economic Survey highlights India's diversifying merchandise trade: FIEO

Increasing exports to markets such as Brazil, South Africa and Saudi Arabia are boosting the growth of the country's outbound shipments, FIEO said on Tuesday. Federation of Indian Export Organisations (FIEO) President A Sakthivel said the Economic Survey has rightly highlighted India's growing and diversifying merchandise trade. "The new diversified markets, including those of Brazil, South Africa and Saudi Arabia, have led to the increase in exports by up to 2 times," he said. The ongoing trade negotiations with the UK, EU, Canada, and Israel will also add further impetus to our exports, he added. "Reducing the cost of logistics in the country, which now to the tune of 14-15 per cent, comparable to the global benchmark, will help in making our exports more competitive worldwide," Sakthivel said. Yogesh Gupta, Regional Chairman, FIEO (Eastern Region), said the exporter fraternity is expecting fiscal support and affordable credit, from the upcoming budget. "A need of the hour is t

Innovation economy: How to realise India's techade

With techno-nationalism spurring significant policy decisions from the US to Australia on investments to reshape the global supply chains, the Budget announcements will be keenly watched

Covid-19 vaccination: India may have won a major battle, says Eco Survey

97% of the country's eligible beneficiaries have been given at least one dose, while 90% have got two doses

Manufacturing landscape shows uneven growth across categories: Eco Survey

As companies adapt their manufacturing and supply chain strategies to build resilience, India has a unique opportunity to become a global manufacturing hub this decade

Achievements in renewables strengthened resolve for Net Zero by 2070: Prez

President Droupadi Murmu on Tuesday said India has achieved the target of making 40 per cent of its electricity generation capacity from non-fossil fuel sources, a success that has strengthened the resolve to achieve Net Zero by 2070. In her maiden address to the joint sitting of Parliament marking the beginning of the Budget Session, Murmu said India was also progressing rapidly towards achieving the target of 20 per cent ethanol blending in petrol. "India has also changed the perception, which considers progress and nature as contradictory," she said addressing lawmakers in the Central Hall of Parliament. She said the government has increased the solar power capacity by almost 20 times in the last eight years and India now ranks fourth in the world in renewable energy capacity. "My government is focusing on green growth and is emphasizing on connecting the entire world with Mission LiFE," Murmu said. Prime Minister Narendra Modi had announced Mission LiFE at the climate conferen

Govt has taken unprecedented decisions for tribals' pride: Prez Murmu

President Droupadi Murmu on Tuesday highlighted various schemes rolled out for the welfare of scheduled tribes and said the government has taken "unprecedented" decisions for the pride of tribal communities as well as "awakened" their aspirations. While more than 36,000 tribal-dominated villages are being developed today under the Pradhan Mantri Adi Adarsh Gram Yojana, over 400 Eklavya Model Schools have been opened in tribal areas to provide formal education to children belonging to scheduled tribes, she said in her address to the joint sitting of Parliament. More than 3,000 Van Dhan Vikas Kendras have become new means of livelihood across the country, the president said. "My government has taken unprecedented decisions for the pride of the tribal communities. For the first time, the country started celebrating the birth anniversary of Bhagwan Birsa Munda as 'Janjatiya Gaurav Diwas'," Murmu said. Recently, the government paid tribute to tribal revolutionaries at the national level