The Economic Survey 2023 dashed all hopes projecting an average 6.5 per cent annual growth in the medium-term, which could be 5-7 years from FY24.
The scheme will increase share of manufacturing sector in total capital formation, which currently stands at nearly 17-20% between FY12 and FY20.
That is one of the reasons why export growth in the second decade wasn’t as good as it was in the first decade.
These and other pipeline projects are held up due to shortage of funds to be released by the Government of India.
Economic Survey 2022-23 bullish on private investments picking up; CEA says the global slowdown could actually work in favour of India
Bird survey in TN finds presence of South American suckermouth armoured catfish in Thamirabarani tanks
Volunteers of the 13th Thamirabarani waterbird census have found the presence of invasive South American Suckermouth armoured catfishes in many water tanks.
Tamil Nadu forest department requested the support of Kerala and Karnataka for the synchronized vulture survey scheduled for March in these three states.
The Chief Economic Advisor draws a parallel between the last eight years of the Modi government and the reforms it pursued with that of Vajpayee’s between 1998–2004.
According to the Economic Survey, on average, between FY19 and FY22 CY, growth in UPI-based transactions in value and volume terms has been 121% and 115%, respectively.
The survey also said that international fora like OECD (Organisation for Economic Co-operation and Development) and G20 are discussing a globally coordinated approach to regulate crypto assets.
The Survey also said that India's domestic pharmaceutical market is estimated to reach USD 130 billion by 2030, and the pharma industry has sustained its growth momentum after the pandemic.
The survey recognises that India’s growth is dependent on commodity price inflation, global economic growth, and flow of global capital.
Out of the cumulative Rs 5.06 lakh crore garnered, funds totalling Rs 3.92 lakh crore were mopped up from the debt market and Rs 1.14 crore came in through the equity route.
Tabled in the Parliament on Tuesday, the Survey, confirmed the pains of a soul-crushing FY23 and how India withstood the extraordinary set of challenges better than most economies.
The asset quality of Scheduled Commercial Banks (SCBs) has been improving steadily over the years across all major sectors.
According to the survey, the Indian Telegraph Right of Way (Amendment) Rules, 2022, will facilitate faster and easier deployment of telegraph infrastructure to enable a speedy 5G rollout.
CEA V Anantha Nageswaran said the Indian economy is expected to grow faster once global shocks of the pandemic and Russia-Ukraine war fade.
All sub-sectors of the IT-BPM industry also showed double-digit revenue growth in FY22. Within the IT-BPM sector, IT services constitute over 51 per cent share.
Job creation appears to have moved into a higher orbit with the initial surge in exports, a strong release of pent-up demand, and a swift rollout of the capex.
The survey noted that in FY22 and FY23, inflation in WPI of "fuel and power" was mostly driven by high international crude oil prices.