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Economic Survey 2019 Live Updates: The document outlines vision to achieve $5-trillion economy: PM Modi

BusinessToday.In | 04 July 2019

Economic Survey 2019 Live Updates: Prime Minister Narendra Modi said Thursday that the Economic Survey 2019 has drawn out a vision for India to achieve the target of becoming a $5 trillion economy. PM Modi in his tweet also said that the annual document of the government 'depicts the gains from advancement in the social sector, adoption of technology and energy security.' Finance Minister Nirmala Sitharaman tabled the 2019 Economic Survey in both houses of the parliament followed by a press conference by the Chief Economic Advisor (CEA) KV Subramanian. The document has projected India's Gross Domestic Product (GDP) to grow at 7% in the year 2019-20 and said that India needs to sustain a growth rate of 8% to become $5 trillion economy by 2025. The Economic Survey 2019 was tabled in the parliament one day ahead of the much-awaited Budget 2019. Prepared under the guidance of the CEA and the Finance Ministry, the Economic Survey presents the ministry's view on the economic development of the country during the previous fiscal. It also looks into the impact of key policy initiatives by the government. The three-part document also highlights the ongoing economic trends in the country and is considered as the government's flagship annual document.

 

 

 

 

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KEY UPDATES

  • 16:32 IST

    After the Economic Survey 2019 was tabled before the Parliament, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that the survey's projection of 7 percent growth for financial year indicates that growth has bottomed out and recovery is on the cards.

    "The Survey's emphasis on fiscal prudence, at a time when there is an all round clamour for fiscal stimulus, is laudable. It is important to appreciate  the fact that in FY20 the PSBR (Public Sector Borrowing Requirement) would be close to 9 percent of the GDP and in this context further fiscal stimulus would do more harm than good. If the survey's hope that 'political stability can ignite the animal spirits and usher in a virtuous cycle of growth' is to bear fruit, Nirmala Sitharaman should rise to the occasion and deliver a reform-oriented growth budget."

    • 16:32 IST:
    After the Economic Survey 2019 was tabled before the Parliament, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that the survey's projection of 7 percent growth for financial year indicates that growth has bottomed out and recovery is on the cards.

    "The Survey's emphasis on fiscal prudence, at a time when there is an all round clamour for fiscal stimulus, is laudable. It is important to appreciate  the fact that in FY20 the PSBR (Public Sector Borrowing Requirement) would be close to 9 percent of the GDP and in this context further fiscal stimulus would do more harm than good. If the survey's hope that 'political stability can ignite the animal spirits and usher in a virtuous cycle of growth' is to bear fruit, Nirmala Sitharaman should rise to the occasion and deliver a reform-oriented growth budget."

  • 16:28 IST

    Commenting on the Economic Survey 2019, Deepthi Mathew, Economist at Geojit Financial Services, said that private investment is the need of the hour.

    "The Survey identifies investment, especially private investment  as the key driver, for the country to achieve the status of a $5 trillion economy. Private investment is the need of the hour that would lead to increased employment opportunities. The Survey notes that policy uncertainty dampens investment growth in the country. As survey points out there is considerable reduction in the policy uncertainty. However, more work is needed in this field as it is important to provide conducive environment to the private investors," Mathew said.

    • 16:28 IST:
    Commenting on the Economic Survey 2019, Deepthi Mathew, Economist at Geojit Financial Services, said that private investment is the need of the hour.

    "The Survey identifies investment, especially private investment  as the key driver, for the country to achieve the status of a $5 trillion economy. Private investment is the need of the hour that would lead to increased employment opportunities. The Survey notes that policy uncertainty dampens investment growth in the country. As survey points out there is considerable reduction in the policy uncertainty. However, more work is needed in this field as it is important to provide conducive environment to the private investors," Mathew said.

  • 15:47 IST

    Govt pessimistic about economy: P Chidambaram

    After the first Economic Survey of the new government, Former Finance Minister P Chidambaram said that the outlook for financial year 2018-19 does not show any positive or encouraging signs. In tweet he said:
    "The Economic Survey 2018-19 is the first of the new government and the first under the new Finance Minister, Ms Nirmala Sitharaman. The first sentence of Volume-I: Chapter 01 is self-congratulatory ("During the last five years, India's economy has performed well."). I looked for the Outlook for 2019-20. It is in Volume-2, Chapter 01: but there is only a bland statement that "growth of the economy expected to be 7 per cent im 2019-20."There are no growth projections sector wise.The closest in terms of describing the outlook for 2019-20 can be found in Volume-2: Chapter 02. The Economic Survey flags (1) slowing growth, (2) shortfall in revenue, (3) finding resources without compromising the fiscal deficit target, (4) impact of oil prices on the current account and (5) recommendations of the Fifteenth FC on central government finances. I am afraid, none of these is positive or encouraging.It appears to me that the government, speaking through the Economic Survey, is pessimistic about the economy."

    • 15:47 IST:
    After the first Economic Survey of the new government, Former Finance Minister P Chidambaram said that the outlook for financial year 2018-19 does not show any positive or encouraging signs. In tweet he said:
    "The Economic Survey 2018-19 is the first of the new government and the first under the new Finance Minister, Ms Nirmala Sitharaman. The first sentence of Volume-I: Chapter 01 is self-congratulatory ("During the last five years, India's economy has performed well."). I looked for the Outlook for 2019-20. It is in Volume-2, Chapter 01: but there is only a bland statement that "growth of the economy expected to be 7 per cent im 2019-20."There are no growth projections sector wise.The closest in terms of describing the outlook for 2019-20 can be found in Volume-2: Chapter 02. The Economic Survey flags (1) slowing growth, (2) shortfall in revenue, (3) finding resources without compromising the fiscal deficit target, (4) impact of oil prices on the current account and (5) recommendations of the Fifteenth FC on central government finances. I am afraid, none of these is positive or encouraging.It appears to me that the government, speaking through the Economic Survey, is pessimistic about the economy."

  • 15:15 IST

    Economic Survey 2019 negatives- key takeaways

    1. Total Central Government expenditure fell by 0.3 pc in 2018-19 over 2017-18.
     
    2. Growth of GDP moderated to 6.8 per cent in 2018-19 from 7.2 per cent in 2017-18.
     
    3.  Gross Value Added (GVA) in agriculture decelerated from 6.3 pc in 16-17 to 2.9 per cent in 2018-19.
     
    4. Services sector (54.3 per cent of GVA) growth declined to 7.5 per cent in 2018-19 from 8.1 per cent in 2017-18; Accelerated sub-sectors: Financial services, real estate and professional services; Decelerated sub-sectors: Hotels, transport, communication and broadcasting services.
     
    5. Credit growth rate y-o-y of the NBFCs declined from 30 per cent in March 2018 to 9 per cent in March 2019.
     
    6. Investment rate bottomed out; seen higher in 19-20 due to better credit growth.
     
    7. Capital mobilised through public equity issuance declined by 81 per cent in 2018-19.
     
    8. Financial flows remained constrained because of decline in the equity finance raised from capital markets and stress in the NBFC sector.
     
    9. Dwarfs (firms with less than 100 workers) despite being more than 10 years old, account for more than 50% of all organized firms in manufacturing by number; Large firms are 75% of employment and 90% of productivity.
     
    10. Significant decline in elementary school-going children (5-14 age group) over next two decades due to slow population growth.
     
    11. 1 in 3 wage workers in India not protected by the minimum wage law.
     
    12. Delays in contract enforcement and disposal resolution biggest hurdles to ease of doing business.
     
    13. Liquidity conditions remained systematically tight since September 2018 thus impacting the yields on government papers.

    • 15:15 IST: 1. Total Central Government expenditure fell by 0.3 pc in 2018-19 over 2017-18.
     
    2. Growth of GDP moderated to 6.8 per cent in 2018-19 from 7.2 per cent in 2017-18.
     
    3.  Gross Value Added (GVA) in agriculture decelerated from 6.3 pc in 16-17 to 2.9 per cent in 2018-19.
     
    4. Services sector (54.3 per cent of GVA) growth declined to 7.5 per cent in 2018-19 from 8.1 per cent in 2017-18; Accelerated sub-sectors: Financial services, real estate and professional services; Decelerated sub-sectors: Hotels, transport, communication and broadcasting services.
     
    5. Credit growth rate y-o-y of the NBFCs declined from 30 per cent in March 2018 to 9 per cent in March 2019.
     
    6. Investment rate bottomed out; seen higher in 19-20 due to better credit growth.
     
    7. Capital mobilised through public equity issuance declined by 81 per cent in 2018-19.
     
    8. Financial flows remained constrained because of decline in the equity finance raised from capital markets and stress in the NBFC sector.
     
    9. Dwarfs (firms with less than 100 workers) despite being more than 10 years old, account for more than 50% of all organized firms in manufacturing by number; Large firms are 75% of employment and 90% of productivity.
     
    10. Significant decline in elementary school-going children (5-14 age group) over next two decades due to slow population growth.
     
    11. 1 in 3 wage workers in India not protected by the minimum wage law.
     
    12. Delays in contract enforcement and disposal resolution biggest hurdles to ease of doing business.
     
    13. Liquidity conditions remained systematically tight since September 2018 thus impacting the yields on government papers.

  • 15:13 IST

    Economic Survey 2019 positives- key takeaways

    India still the fastest growing major economy in 2018-19.
     
    NPAs reduced to 10.1 per cent at end December 2018 from 11.5 per cent at end March 2018
     
    1. Fixed investments up 10 pc in 18-19 from 8.3 per cent in 2016-17.
     
    2. General Government (Centre plus states) on the path of fiscal consolidation and fiscal discipline.
     
    3. Net employment generation in formal sector was higher at 8.15 lakh in March, 2019 as against 4.87 lakh in February, 2018 as per EPFO.
     
    4.Current account deficit manageable at 2.1 percent of GDP.
     
    5. Fiscal deficit down from 3.5 percent in 2017-18 to 3.4 percent in 2018-19.
     
    6. Insolvency and Bankruptcy Code led to recovery and resolution of significant amount of distressed assets.
     
    7. Till March 31, 2019, resolution of 94 cases involving claims worth Rs 1, 73,359 crore.
     
    8. Prospects of pickup in growth in 2019-20 due to private investment and higher consumption.
     
    9. 93.1% of the households have access to toilets under Swachh Bharat.
     
    10. Rs 50,000 crore saved and 108.28 million tonnes of CO2 emissions reduced by energy efficiency programmes.
     
    11. Share of renewable in electricity generation up from 6% in 2014-15 to 10% in 2018-19.
     
    12. CPI continuing on its declining trend for fifth straight financial year,  remained below 4.0 pc.
     
    13. External debt $ 521.1 billion at end-December 2018, 1.6 per cent lower than March 2018.
     
    14. India's Ease of Doing Business ranking improved by 23 to 77th position in 2018 among 190 countries assessed.
     
    15. Road construction grew @ 30 km per day in 2018-19 compared to 12 km per day in 2014-15.
     
    16. Government expenditure on health increased to 1.5 per cent in 2018-19 from 1.2 per cent in 2014-15.
     
    17. Govt expenditure on education increased from 2.8 per cent to 3 per cent during this period.
     
    18. Oil prices projected to decline in 19-20.

    • 15:13 IST: India still the fastest growing major economy in 2018-19.
     
    NPAs reduced to 10.1 per cent at end December 2018 from 11.5 per cent at end March 2018
     
    1. Fixed investments up 10 pc in 18-19 from 8.3 per cent in 2016-17.
     
    2. General Government (Centre plus states) on the path of fiscal consolidation and fiscal discipline.
     
    3. Net employment generation in formal sector was higher at 8.15 lakh in March, 2019 as against 4.87 lakh in February, 2018 as per EPFO.
     
    4.Current account deficit manageable at 2.1 percent of GDP.
     
    5. Fiscal deficit down from 3.5 percent in 2017-18 to 3.4 percent in 2018-19.
     
    6. Insolvency and Bankruptcy Code led to recovery and resolution of significant amount of distressed assets.
     
    7. Till March 31, 2019, resolution of 94 cases involving claims worth Rs 1, 73,359 crore.
     
    8. Prospects of pickup in growth in 2019-20 due to private investment and higher consumption.
     
    9. 93.1% of the households have access to toilets under Swachh Bharat.
     
    10. Rs 50,000 crore saved and 108.28 million tonnes of CO2 emissions reduced by energy efficiency programmes.
     
    11. Share of renewable in electricity generation up from 6% in 2014-15 to 10% in 2018-19.
     
    12. CPI continuing on its declining trend for fifth straight financial year,  remained below 4.0 pc.
     
    13. External debt $ 521.1 billion at end-December 2018, 1.6 per cent lower than March 2018.
     
    14. India's Ease of Doing Business ranking improved by 23 to 77th position in 2018 among 190 countries assessed.
     
    15. Road construction grew @ 30 km per day in 2018-19 compared to 12 km per day in 2014-15.
     
    16. Government expenditure on health increased to 1.5 per cent in 2018-19 from 1.2 per cent in 2014-15.
     
    17. Govt expenditure on education increased from 2.8 per cent to 3 per cent during this period.
     
    18. Oil prices projected to decline in 19-20.

  • 15:08 IST

    Economic Survey 2019 lists out expectations from Budget 2019.

    The 2019 Economic Survey has listed out the expectations from Budget 2019 Finance Minister Nirmala Sitharaman will table in parliament on Friday. Here are the key highlights:

    1. Minimum wage rate (Survey proposes a well-designed minimum wage system as a potent tool for protecting workers and alleviating poverty. Minimum wages to all employments/workers proposed by the Survey. 'National level dashboard' under the Ministry of Labour & Employment for regular notifications on minimum wage.

    2. Deregulating labor law restrictions to create significantly more jobs.

    3. Quality assurance certification of processes in Government departments. To improve inwards investment.

    4. Consistency of actual policy with forward guidance. To improve inwards investment.

    5. Access to fast battery charging facilities needed to increase the market share of electric vehicles.

    6. Survey also focuses on service sectors such as tourism, with high spillover effects on other sectors such as hotel & catering, transport, real estate, entertainment etc., for job creation.

    7. Re-calibrating Priority Sector Lending (PSL) guidelines for direct credit flow to young firms in high employment elastic sectors.

    8. Merging the distinct datasets held by the Government already would generate multiple benefits.

    9. Policy makers need to prepare for ageing by investing in health care and by increasing the retirement age in a phased manner.

    10. Environmental and water management issues need to be incorporated in SBM for sustainable improvements in the long-term.

    11. For mainstreaming Resource Efficiency approach in the development pathway for achieving SDGs, a national policy on Resource Efficiency should be devised.

    12. Thrust should be on micro-irrigation to improve water use efficiency.
    Institutional mechanism is needed to deal with time-bound resolution of disputes in infrastructure sector.


    • 15:08 IST: The 2019 Economic Survey has listed out the expectations from Budget 2019 Finance Minister Nirmala Sitharaman will table in parliament on Friday. Here are the key highlights:

    1. Minimum wage rate (Survey proposes a well-designed minimum wage system as a potent tool for protecting workers and alleviating poverty. Minimum wages to all employments/workers proposed by the Survey. 'National level dashboard' under the Ministry of Labour & Employment for regular notifications on minimum wage.

    2. Deregulating labor law restrictions to create significantly more jobs.

    3. Quality assurance certification of processes in Government departments. To improve inwards investment.

    4. Consistency of actual policy with forward guidance. To improve inwards investment.

    5. Access to fast battery charging facilities needed to increase the market share of electric vehicles.

    6. Survey also focuses on service sectors such as tourism, with high spillover effects on other sectors such as hotel & catering, transport, real estate, entertainment etc., for job creation.

    7. Re-calibrating Priority Sector Lending (PSL) guidelines for direct credit flow to young firms in high employment elastic sectors.

    8. Merging the distinct datasets held by the Government already would generate multiple benefits.

    9. Policy makers need to prepare for ageing by investing in health care and by increasing the retirement age in a phased manner.

    10. Environmental and water management issues need to be incorporated in SBM for sustainable improvements in the long-term.

    11. For mainstreaming Resource Efficiency approach in the development pathway for achieving SDGs, a national policy on Resource Efficiency should be devised.

    12. Thrust should be on micro-irrigation to improve water use efficiency.
    Institutional mechanism is needed to deal with time-bound resolution of disputes in infrastructure sector.


  • 14:49 IST

    Effective minimum wage policy can push up demand; strengthen the middle class

    "An effective minimum wage policy that targets the vulnerable bottom rung of wage earners can help in driving up aggregate demand and building and strengthening the middle class," CEA KV Subramanian tweeted.





    • 14:49 IST:
    "An effective minimum wage policy that targets the vulnerable bottom rung of wage earners can help in driving up aggregate demand and building and strengthening the middle class," CEA KV Subramanian tweeted.





  • 14:46 IST

    MGNREGS success shows govt schemes can make a substantial difference on the ground

    "Success of MGNREGS shows government schemes can make a substantial difference on the ground when skilful use of technology is combined with monitoring of effectiveness," CEA KV Subramanian tweeted.





    • 14:46 IST:
    "Success of MGNREGS shows government schemes can make a substantial difference on the ground when skilful use of technology is combined with monitoring of effectiveness," CEA KV Subramanian tweeted.





  • 14:24 IST

    The Economic Survey 2019 outlines a vision to achieve a $5 Trillion economy: PM Modi

    Prime Minister Narendra Modi Thursday said that the Economic Survey 2019 outlines a vision to achieve a $5 Trillion economy. "It also depicts the gains from advancement in the social sector, adoption of technology and energy security," he added.





    • 14:24 IST:
    Prime Minister Narendra Modi Thursday said that the Economic Survey 2019 outlines a vision to achieve a $5 Trillion economy. "It also depicts the gains from advancement in the social sector, adoption of technology and energy security," he added.





  • 14:22 IST

    Need more focus on firms to reap economies of scale: CEA KV Subramanian

    Firms that over time grow large are significant contributors to employment and value; need more focus on firms to reap economies of scale, rather than on firms which remain slow despite their age , says CEA.



    • 14:22 IST:
    Firms that over time grow large are significant contributors to employment and value; need more focus on firms to reap economies of scale, rather than on firms which remain slow despite their age , says CEA.



  • 14:19 IST

    Swachh Bharat has contributed to improved health outcomes in a very significant way : CEA

    "Swachh Bharat has contributed to improved health outcomes in a very significant way," CEA KV Subramanian said.

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    14:19 IST: "Swachh Bharat has contributed to improved health outcomes in a very significant way," CEA KV Subramanian said.

  • 13:49 IST

    Beti Bachao Beti Padhao led to improvement in sex ratio at birth: CEA

    Beti Bachao Beti Padhao has led to improvement in sex ratio at birth, said CEA KV Subramanian.



    • 13:49 IST:
    Beti Bachao Beti Padhao has led to improvement in sex ratio at birth, said CEA KV Subramanian.



  • 13:46 IST

    Swachh Bharat Mission a great example of behavioural change: CEA KV Subramanian

    "A picture says a thousand words, Swachh Bharat Mission has been a great example of behavioural change," said CEA Subramanian, arguing for more such behavioural policy interventions.





    • 13:46 IST:
    "A picture says a thousand words, Swachh Bharat Mission has been a great example of behavioural change," said CEA Subramanian, arguing for more such behavioural policy interventions.





  • 13:42 IST

    India will reap demographic change benefits in next 20 years to sustain 8% growth rate, says CEA

    In the next two decades, we will be able to avail the benefits of demographic change, which will enable us to grow in a sustained manner at 8%: CEA KV Subramanian.




    • 13:42 IST: In the next two decades, we will be able to avail the benefits of demographic change, which will enable us to grow in a sustained manner at 8%: CEA KV Subramanian.



  • 13:40 IST

    Economic Survey 2019 makes two key departures from traditional economic thinking, says CEA

    Speaking at the press conference after the 2019 Economic Survey was tabled by FM Nirmala Sitharaman in the parliament today, CEA KV Subramanian said that the annual document of the government makes two key departures from traditional economic thinking.





    • 13:40 IST:
    Speaking at the press conference after the 2019 Economic Survey was tabled by FM Nirmala Sitharaman in the parliament today, CEA KV Subramanian said that the annual document of the government makes two key departures from traditional economic thinking.





  • 13:37 IST

    India learns to learn from China, says CEA

    "As economy started going better, China started saving and investing more; India needs to learn from this and adopt a virtuous cycle," says CEA KV Subramanian.



    • 13:37 IST:
    "As economy started going better, China started saving and investing more; India needs to learn from this and adopt a virtuous cycle," says CEA KV Subramanian.



  • 13:35 IST

    CEA Subramanian lists out structural achievements in last five year

    The Indian economy is now poised for a takeoff, says CEA at the press conference after FM Nirmala Sitharaman tabled the Economy Survey 2019 in parliament today.



    • 13:35 IST:
    The Indian economy is now poised for a takeoff, says CEA at the press conference after FM Nirmala Sitharaman tabled the Economy Survey 2019 in parliament today.



  • 13:28 IST

    CEA KV Subramanian speaks at press conference on the 2019 Economic Survey

    Press Conference by CEA KV Subramanian speaks at the press conference after it has been tabled in the Parliament by the Finance Minister Nirmala Sitharaman.

    • 13:28 IST:
    Press Conference by CEA KV Subramanian speaks at the press conference after it has been tabled in the Parliament by the Finance Minister Nirmala Sitharaman.

  • 13:17 IST

    FPI investment down to Rs 2.4 lakh crore in FY19

    As per the Economic Survey total cumulative investment by FPIs decreased to Rs 2,48,154 crore as on March 31 2019 as against Rs 2,53,653 crore as on March 31 2018. There was also a net outflow of Rs 5,499 crore by FPIs in 2018-19 compared to an inflow of Rs 22,466 crore in 2017-18.

    • 13:17 IST: As per the Economic Survey total cumulative investment by FPIs decreased to Rs 2,48,154 crore as on March 31 2019 as against Rs 2,53,653 crore as on March 31 2018. There was also a net outflow of Rs 5,499 crore by FPIs in 2018-19 compared to an inflow of Rs 22,466 crore in 2017-18.

  • 13:09 IST

    96.5% of those with access to toilets are using them in rural India.

    Economic Survey 2019 highlights the traceable health benefits brought about by Swachh Bharat Mission (SBM). Main Points:-
    1. 93.1% of the households have access to toilets.
    2. 96.5% of those with access to toilets are using them in rural India.
    3. 100% Individual Households Latrine (IHHL) Coverage in 30 states and UTs.
    4. Financial savings from a household toilet exceed the financial costs to the household by 1.7 times on average and 2.4 times for poorest households.
    5. Environmental and water management issues need to be incorporated in SBM for sustainable improvements in the long-term.

    • 13:09 IST:
    Economic Survey 2019 highlights the traceable health benefits brought about by Swachh Bharat Mission (SBM). Main Points:-
    1. 93.1% of the households have access to toilets.
    2. 96.5% of those with access to toilets are using them in rural India.
    3. 100% Individual Households Latrine (IHHL) Coverage in 30 states and UTs.
    4. Financial savings from a household toilet exceed the financial costs to the household by 1.7 times on average and 2.4 times for poorest households.
    5. Environmental and water management issues need to be incorporated in SBM for sustainable improvements in the long-term.

  • 12:59 IST

    Swachh Bharat Mission covered 99.2% of rural India during last 5 years

    The Economic Survey 2019 document has said that the Swachh Bharat Mission (SBM) has significantly improved health outcomes by covering 99.2% of rural India during the last 5 years.

    • 12:59 IST:
    The Economic Survey 2019 document has said that the Swachh Bharat Mission (SBM) has significantly improved health outcomes by covering 99.2% of rural India during the last 5 years.

  • 12:50 IST

    Will give first-time woman MPs of Lok Sabha chance to speak: Om Birla

    Lok Speaker Om Birla said he wants all first-time woman members of the Lok Sabha to have a chance to speak in the House during the ongoing session.

    • 12:50 IST: Lok Speaker Om Birla said he wants all first-time woman members of the Lok Sabha to have a chance to speak in the House during the ongoing session.

  • 12:37 IST

    Economic Survey 2019 theme is to accelerate and sustain real GDP growth of 8%, says CEA

    "The theme of EcoSurvey2019 is to enable "shifting gears" to accelerate and sustain a real GDP growth rate of 8% and thereby achieve the vision of Economy5trillion," tweeted CEA KV Subramanian.




    • 12:37 IST:
    "The theme of EcoSurvey2019 is to enable "shifting gears" to accelerate and sustain a real GDP growth rate of 8% and thereby achieve the vision of Economy5trillion," tweeted CEA KV Subramanian.




  • 12:28 IST

    Indian economy outlook appears bright with prospects of pickup in growth in 2019-20

    Outlook of Indian economy appears bright with prospects of pickup in growth in 2019-20 on back of pick up in private investment and robust consumption growth.

    • 12:28 IST: Outlook of Indian economy appears bright with prospects of pickup in growth in 2019-20 on back of pick up in private investment and robust consumption growth.

  • 12:28 IST

    NPAs have reduced to 10.1 % at the end of December 2018 from 11.5 % at the end of March 2018

    Non-Performing Assets as a percentage of Gross Advances have reduced to 10.1 % at the end of December 2018 from 11.5 % at the end of March 2018.

    • 12:28 IST: Non-Performing Assets as a percentage of Gross Advances have reduced to 10.1 % at the end of December 2018 from 11.5 % at the end of March 2018.

  • 12:27 IST

    Economic Survey 2019: Fiscal deficit of Central Government stood at 3.4% of GDP in 2018-19

    Fiscal deficit of Central Government stood at 3.4% of GDP in 2018-19. Current Account Deficit (CAD) was 2.6% in April-December 2018.

    • 12:27 IST: Fiscal deficit of Central Government stood at 3.4% of GDP in 2018-19. Current Account Deficit (CAD) was 2.6% in April-December 2018.

  • 12:27 IST

    Growth in investment, which has slowed down for many years, has bottomed out and has started to recover since 2017-18.

    Growth in investment, which has slowed down for many years, has bottomed out and has started to recover since 2017-18. Growth in fixed investment picked up from 8.3 percent in 2016-17 to 9.3 percent in 2017-18 and further to 10.0 percent in 2018-19, according to 2019 Economic Survey.

    • 12:27 IST: Growth in investment, which has slowed down for many years, has bottomed out and has started to recover since 2017-18. Growth in fixed investment picked up from 8.3 percent in 2016-17 to 9.3 percent in 2017-18 and further to 10.0 percent in 2018-19, according to 2019 Economic Survey.

  • 12:26 IST

    This moderation in growth momentum is mainly on account of lower growth in agriculture and allied.

    This moderation in growth momentum is mainly on account of lower growth in agriculture and allied. Trade, hotel, transport, storage, communication, and services related to broadcasting  and public administration and defence sectors, says the Economic Survey 2019.

    • 12:26 IST: This moderation in growth momentum is mainly on account of lower growth in agriculture and allied. Trade, hotel, transport, storage, communication, and services related to broadcasting  and public administration and defence sectors, says the Economic Survey 2019.

  • 12:26 IST

    Growth of GDP moderated to 6.8% in 2018-19 from 7.2 percent in 2017-18

    According the 2019 Economic Survey,growth of GDP moderated to 6.8% in 2018-19 from 7.2 percent in 2017-18.  However, India was still the fastest growing economy.

    • 12:26 IST: According the 2019 Economic Survey,growth of GDP moderated to 6.8% in 2018-19 from 7.2 percent in 2017-18.  However, India was still the fastest growing economy.

  • 11:56 IST

    Greenshoots in investment seems to be taking hold

    Greenshoots in investment seems to be taking hold, says this year's Economic Survey.

    • 11:56 IST: Greenshoots in investment seems to be taking hold, says this year's Economic Survey.

  • 11:56 IST

    NBFC stress reason for FY19 slowdown

    NBFC stress reason for FY19 slowdown, says the survey.

    • 11:56 IST: NBFC stress reason for FY19 slowdown, says the survey.

  • 11:55 IST

    Govt stood by the fiscal consolidation path.

    Govt stood by the fiscal consolidation path, says the survey.

    • 11:55 IST: Govt stood by the fiscal consolidation path, says the survey.

  • 11:55 IST

    Jan-March economic slowdown due to poll related activity.

    The Economic Survey of 2019 says that Jan-March economic slowdown due to poll related activity.

    • 11:55 IST: The Economic Survey of 2019 says that Jan-March economic slowdown due to poll related activity.

  • 11:55 IST

    General fiscal deficit seen at 5.8% in FY19

    General fiscal deficit seen at 5.8% in FY19, says the survey

    • 11:55 IST: General fiscal deficit seen at 5.8% in FY19, says the survey

  • 11:54 IST

    Farmers may have produced less in FY19 on food price fall

    Farmers may have produced less in FY19 on food price fall, says the Economic Survey 2019

    • 11:54 IST: Farmers may have produced less in FY19 on food price fall, says the Economic Survey 2019

  • 11:54 IST

    Oil prices seen declining.

    Oil prices seen declining, according to the survey.

    • 11:54 IST: Oil prices seen declining, according to the survey.

  • 11:54 IST

    Decline in NPAs should push up CAPEX cycle

    Decline in NPAs should push up CAPEX cycle, according to the survey.

    • 11:54 IST: Decline in NPAs should push up CAPEX cycle, according to the survey.

  • 11:53 IST

    Investment rate seems to have bottomed out

    Investment rate seems to have bottomed out, says the survey.

    • 11:53 IST: Investment rate seems to have bottomed out, says the survey.

  • 11:53 IST

    Investment rate seen higher in FY20 on higher credit growth

    The survey says that the investment rate seen higher in FY20 on higher credit growth.

    • 11:53 IST: The survey says that the investment rate seen higher in FY20 on higher credit growth.

  • 11:53 IST

    Investment rate seems to have bottomed out.

    Investment rate seems to have bottomed out, says the 2019 Economic Survey.

    • 11:53 IST: Investment rate seems to have bottomed out, says the 2019 Economic Survey.

  • 11:52 IST

    Accommodative monetary policy to help cut real lending rates

    Accommodative monetary policy to help cut real lending rates, says this year's survey.

    • 11:52 IST: Accommodative monetary policy to help cut real lending rates, says this year's survey.

  • 11:51 IST

    January-March slowdown partly because of election-related uncertainty.

    Economic Survey 2019: January-March slowdown partly because of election-related uncertainty.

    • 11:51 IST: Economic Survey 2019: January-March slowdown partly because of election-related uncertainty.

  • 11:49 IST

    General fiscal deficit seen at 5.8 percent in FY19 against 6.4 percent in FY18.

    "General fiscal deficit seen at 5.8 percent in FY19 against 6.4 percent in FY18," the document says.

    • 11:49 IST: "General fiscal deficit seen at 5.8 percent in FY19 against 6.4 percent in FY18," the document says.

  • 11:48 IST

    Decline in the non-performing assets (NPAs) should help push the capital expenditure cycle.

    The Economic Survey 2019 has said that decline in the non-performing assets (NPAs) should help push the capital expenditure cycle.

    • 11:48 IST: The Economic Survey 2019 has said that decline in the non-performing assets (NPAs) should help push the capital expenditure cycle.

  • 11:45 IST

    The economic survey has predicted 7% Gross Domestic Product (GDP) growth in FY20 on stable macro economic conditions.

    The economic survey of 2019 has predicted 7% Gross Domestic Product (GDP) growth in FY20 on stable macro economic conditions.

    • 11:45 IST: The economic survey of 2019 has predicted 7% Gross Domestic Product (GDP) growth in FY20 on stable macro economic conditions.

  • 11:45 IST

    General fiscal deficit seen at 5.8% in FY19 against 6.4% in FY18.

    General fiscal deficit seen at 5.8% in FY19 against 6.4% in FY18, according to the Economic Survey of 2019.

    • 11:45 IST: General fiscal deficit seen at 5.8% in FY19 against 6.4% in FY18, according to the Economic Survey of 2019.

  • 11:41 IST

    Economic Survey says slow growth, GST, farm schemes to pose challenges on fiscal front

    Economic Survey says slow growth, GST, farm schemes to pose challenges on fiscal front, Reuters said citing sources.

    • 11:41 IST: Economic Survey says slow growth, GST, farm schemes to pose challenges on fiscal front, Reuters said citing sources.

  • 11:40 IST

    Economic Survey says 2019-20 GDP growth seen picking up on higher private investment and robust consumption

    Economic Survey of 2019 says 2019-20 GDP growth seen picking up on higher private investment and robust consumption, Reuters said sources.

    • 11:40 IST: Economic Survey of 2019 says 2019-20 GDP growth seen picking up on higher private investment and robust consumption, Reuters said sources.

  • 11:40 IST

    Economic Survey says lower global growth, increased uncertainty over trade tension may hit exports

    Economic Survey 2019 says lower global growth, increased uncertainty over trade tension may hit exports, Reuters said sources.

    • 11:40 IST: Economic Survey 2019 says lower global growth, increased uncertainty over trade tension may hit exports, Reuters said sources.

  • 11:39 IST

    Economic Survey 2019 says lower global oil prices to boost consumption

    Economic Survey says lower global oil prices to boost consumption, Reuters said citing sources

    • 11:39 IST: Economic Survey says lower global oil prices to boost consumption, Reuters said citing sources

  • 11:38 IST

    Economic survey sees investment rate picking up in FY2020 on higher credit growth and improved demand

    Economic survey sees investment rate picking up in FY2020 on higher credit growth and improved demand: Reuters said citing sources

    • 11:38 IST: Economic survey sees investment rate picking up in FY2020 on higher credit growth and improved demand: Reuters said citing sources

  • 11:37 IST

    Economic Survey says lower global oil prices to boost consumption

    Economic Survey 2019: Economic Survey says lower global oil prices to boost consumption - Reuters said citing sources.

    • 11:37 IST: Economic Survey 2019: Economic Survey says lower global oil prices to boost consumption - Reuters said citing sources.

  • 11:27 IST

    Finance Minister Nirmala Sitharaman tables Economic Survey 2019 in the Rajya Sabha.

    Finance and Corporate Affairs Minister Nirmala Sitharaman has tabled the Economic Survey 2019 in parliament one day ahead of the much-awaited Budget 2019.

    • 11:27 IST:
    Finance and Corporate Affairs Minister Nirmala Sitharaman has tabled the Economic Survey 2019 in parliament one day ahead of the much-awaited Budget 2019.

  • 11:04 IST

    CEA KV Subramanian puts out an emotional tweet ahead of his maiden Economic Survey 2019 in parliament today

    "Looking forward with excitement to table my first - and the new Government's first - Economic Survey in Parliament on Thursday. #EcoSurvey2019," Subramanian tweeted.
    "When was the last time you looked at the blue, unfettered sky and wondered about the power of the unfettered "blue sky" thinking? #EcoSurvey2019," he said in another tweet.

    • 11:04 IST:
    "Looking forward with excitement to table my first - and the new Government's first - Economic Survey in Parliament on Thursday. #EcoSurvey2019," Subramanian tweeted.
    "When was the last time you looked at the blue, unfettered sky and wondered about the power of the unfettered "blue sky" thinking? #EcoSurvey2019," he said in another tweet.

  • 10:49 IST

    Economic Survey 2019 to be tabled in Parliament at 12 pm today, says PIB

    "#EcoSurvey2019 to be tabled in Parliament at 12 noon today Stay tuned to @PIB_India, to get a clear and detailed understanding about the Government's view on the outlook and performance of the national economy, and of key government programmes," said PIB in a tweet.





    • 10:49 IST:
    "#EcoSurvey2019 to be tabled in Parliament at 12 noon today Stay tuned to @PIB_India, to get a clear and detailed understanding about the Government's view on the outlook and performance of the national economy, and of key government programmes," said PIB in a tweet.





  • 10:45 IST

    Our team has put in a lot of effort: CEA KV Subramanian

    Krishnamurthy Subramanian, Chief Economic Adviser (CEA) on Economic Survey: Our team has put in a lot of effort with a lot of dedication, I hope results are good and we are able to contribute to the ideas for the economy. I hope the almighty blesses us.





    • 10:45 IST:
    Krishnamurthy Subramanian, Chief Economic Adviser (CEA) on Economic Survey: Our team has put in a lot of effort with a lot of dedication, I hope results are good and we are able to contribute to the ideas for the economy. I hope the almighty blesses us.





  • 10:26 IST

    CEA Subramanian hopes for the best

    "Our team has put in a lot of effort with a lot of dedication, I hope results are good and we are able to contribute to the ideas for the economy. I hope the almighty blesses us," said CEA Krishnamurthy Subramanian.

    • 10:26 IST: "Our team has put in a lot of effort with a lot of dedication, I hope results are good and we are able to contribute to the ideas for the economy. I hope the almighty blesses us," said CEA Krishnamurthy Subramanian.

  • 10:24 IST

    Last year's Economic Survey sought to reinstate India as fastest growing economy

    "...This should allow real GDP growth to reach 6¾ percent for the year as a whole, rising to 7-7½ percent in 2018-19, thereby re-instating India as the world’s fastest growing major economy," the Economic Survey preface stated.

    • 10:24 IST: "...This should allow real GDP growth to reach 6¾ percent for the year as a whole, rising to 7-7½ percent in 2018-19, thereby re-instating India as the world’s fastest growing major economy," the Economic Survey preface stated.

  • 10:12 IST

    Ministry of Finance explains Fiscal Consolidation



     

    • 10:12 IST:

     

  • 09:58 IST

    Sensex at 39,954.28, up by 115.03 points




    • 09:58 IST:


  • 09:33 IST

    Copies of Economic Survey 2019 brought to Parliament




    • 09:33 IST:


  • 09:31 IST

    Indian equities expected to trade on a flat note today

    Indian equities are expected to trade on a flat note today as investors' anticipation were high ahead of the Budget 2019 outcome tomorrow and the Economic Survey scheduled for today at 11: 00 am.

    • 09:31 IST: Indian equities are expected to trade on a flat note today as investors' anticipation were high ahead of the Budget 2019 outcome tomorrow and the Economic Survey scheduled for today at 11: 00 am.

  • 09:13 IST

    Stocks are being traded cautiously ahead of the Economic Survey 2019

    The market has been quite tepid in the past few weeks with Sensex and Nifty trading sideways on back of lower volumes, suggestive that the stocks were being traded cautiously on concerns of economic slowdown that will be the key focus of the Union Budget & Economic Survey.

    • 09:13 IST: The market has been quite tepid in the past few weeks with Sensex and Nifty trading sideways on back of lower volumes, suggestive that the stocks were being traded cautiously on concerns of economic slowdown that will be the key focus of the Union Budget & Economic Survey.

  • 09:09 IST

    Economic Survey 2019: Check out where, when to watch, how to download document

    The Economic Survey is presented a day before Union Budget, every year. It is an annual document by the Finance Ministry and Government of India which reviews the economy of the country over the past year and current financial year. Read more here.

    • 09:09 IST: The Economic Survey is presented a day before Union Budget, every year. It is an annual document by the Finance Ministry and Government of India which reviews the economy of the country over the past year and current financial year. Read more here.

  • 08:58 IST

    Nirmala Sitharaman to table the Economic Survey 2019




    • 08:58 IST:


  • 08:46 IST

    Economic Survey 2019 to focus on economic pain points of agriculture, jobs, investments

    The Modi government is expected focus on issues plaguing the Indian economy in its first Economic Survey since its return. The areas of concern that are likely to be addressed in the Economic Survey include the longstanding job crisis, worsening employment scenario, agriculture sector, ease of doing business, incentives to boost investments, consumption slump, among others.

    • 08:46 IST: The Modi government is expected focus on issues plaguing the Indian economy in its first Economic Survey since its return. The areas of concern that are likely to be addressed in the Economic Survey include the longstanding job crisis, worsening employment scenario, agriculture sector, ease of doing business, incentives to boost investments, consumption slump, among others.

  • 08:39 IST

    Economic Survey to touch upon agriculture issues, ease of doing business, investment boost

    Chief Economic Advisor KV Subramanian will table the Economic Survey before the Parliament today. It will be presented a day before Finance Minister Nirmala Sitharaman presents the first full-fledged Union Budget of the Modi government after it came back to power. "Looking forward with excitement to table my first - and the new Government's first - Economic Survey in Parliament on Thursday. #EcoSurvey2019," Subramanian said in a tweet on July 2.




    • 08:39 IST: Chief Economic Advisor KV Subramanian will table the Economic Survey before the Parliament today. It will be presented a day before Finance Minister Nirmala Sitharaman presents the first full-fledged Union Budget of the Modi government after it came back to power. "Looking forward with excitement to table my first - and the new Government's first - Economic Survey in Parliament on Thursday. #EcoSurvey2019," Subramanian said in a tweet on July 2.



Tags: union budget 2019 | economic survey | union budge