Economic Survey live: India will remain the fastest growing major economy in the world and the third largest economy in terms of purchasing power parity (PPP) globally, as per the Economic Survey 2022-23. The survey also stated that the economy has recouped from what was lost, renewed what had paused, re-energised what had slowed during the pandemic. The survey further stated that 6.8 per cent inflation for the current fiscal year is not high enough to deter private consumption or low enough to weaken investment. Union Finance Minister Nirmala Sitharaman has tabled the Economic Survey 2022-23 in Parliament after the President's address. Lok Sabha has been adjourned as of now.
Before this, President Droupadi Murmu said that the Narendra Modi-led Central government is trying to get rid of every sign of slavery and the country is moving ahead with the inspiration of the Panchpran in the golden age of independence. Garibi Hatao is not just a slogan and the Central government is working towards a permanent solution to the problems faced by the poor and empowering them.
The Economic Survey looks back at the growth of the Indian economy across sectors during a given fiscal year. The survey also talks about the challenges and opportunities presented by that year.
Before this, Prime Minister Narendra Modi told reporters outside Parliament that the entire world is looking at India's budget for the upcoming fiscal year. The Prime Minister said that the government will take the budget session forward with the thought of India first, citizen first.
Check out the latest updates on Economic Survey 2022 on BusinessToday.In
It is my belief that India's improved balance sheet and digital infrastructure will add 60-100 basis points to India's GDP growth. The pandemic recovery stage is over for India, says Chief Economic Advisor
The pupil to teacher ratio has improved. Maternal Mortality Rate has come down in last 7 years. Stunting in children has declined by three percentage points, says Chief Economic Advisor
Credit boom during 2005-12 has led to balance sheet stress later. IL&FS collapse in 2018 has led to stress in NBFC sector. Incidents like these have prevented reforms to take shape properly, says CEA
Share of private sector in agriculture has been highest in last 12 years. Private investments have been facilitated with PM Kisan, farmer producer organisations, says CEA
Recovery of economy is complete; non-banking and corporate sectors now have healthy balance sheets, hence, we don't have to speak of pandemic recovery anymore, we have to look ahead to the next phase, says Chief Economic Advisor V Anantha Nageswaran on Economic Survey 2023
The Economic Survey stated that 6.8 per cent inflation for current fiscal not high enough to deter private consumption or low enough to weaken investment.
India to remain fastest growing major economy in the world, says Economic Survey FY23
Also read: Economic Survey 2023: India sees GDP growth dipping to 6-6.8% in 2023-24
India is the third-largest economy in the world in PPP (purchasing power parity) terms and the fifth largest in terms of the exchange rate, according to the Economic Survey 2022-23.
Finance Minister Nirmala Sitharaman has tabled the Economic Survey 2022 in Parliament.
The Economic Survey is likely to focus on the following points
The opposition parties will target the government on a range of issues including the Adani Group-Hindenburg row. The Centre asserted that was willing to discuss every matter under the rules.
The Economic Survey, to be tabled by Union Finance Minister Nirmala Sitharaman, will likely peg India's economic growth in the range of 6 per cent to 6.8 per cent for the fiscal year 2023-24 under the baseline scenario.
Also read: Budget 2023: Economic Survey likely to pin Indian economy growth at 6-6.8% in FY 24
Former Karnataka CM Siddaramaiah said that he has no expectations from the upcoming Budget. He added the people of Karnataka have decided to bring Congress back to power in the upcoming elections.
Siddaramaiah said, "The people of Karnataka have decided to bring back the Congress party in the upcoming elections in May. I have no expectations from Nirmala Sitharaman’s Budget. It will be full of promises but none will be fulfilled."
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