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jobs is a key takeaway from the Economic Survey; another highlight is the conservative approach to growth expectations.

growth imperatives. Geopolitical conflict has frequently disrupted trade, and geo-economic fragmentation has added to the uncertainty. The April 2024 edition of the IMF Fiscal Monitor noted that governments worldwide were grappling with high debt and deficits. In this context, the Indian economy's average growth rate of around 8% in the last three fiscal years is a creditable achievement. The economy has firmly put behind the scars of the pandemic. India is one of the only two major economies whose GDP at constant (2011-12) prices is 20% above the pre-pandemic level. While this is truly creditworthy, now is the time to consolidate and further build on the gains achieved while implementing policies safeguarding the growth process. This is the overarching message of Chapter 1 of the Economic Survey 2023-24.

Economic Survey 2023-24 said there is a need for nearer-term goals for human welfare, rather than just one larger, longer-term target for global climate management. It has also suggested a diversified approach for energy transition with the integration of renewables, alongside exploring nuclear energy and biofuels, wherein thermal power would provide the base-load to support largescale deployment of renewables.

The Economic Survey for 2023-24 placed before Parliament on Monday is forthright on some aspects. Its straight talk on the need for private companies to use the profits they’ve piled up, thanks partly to a tax cut, to invest in India is an example. The hypocrisy of the rich world in expecting us to start phasing out fossil fuels at this juncture of the economy’s emergence is also squarely dealt with, especially the “Alice in Wonderland" air around some global plans.

Central Asia’s biggest and resource rich state Kazakhstan’s GDP grew by 5.1% in 2023. All major sectors experienced positive growth: construction increased by 13.3%, trade by 11.3%, information and communication services by 7.1%, transport services by 6.9%, and industry by 4.3%. In 2024, the government predicts further growth of at least 5.3%.

GDP growth of 6.5–7%, “with risks evenly balanced, cognizant of the fact that the market expectations are on the higher side". However, it has not explained the assumptions that led it to arrive at this projection.

Economists widely expect the Bank of Canada to cut its policy rate for the second consecutive time on Wednesday after data released the past month suggested the Canadian economy is feeling the pinch of higher rates.

Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman said that the pre-bugdet document highlighted the prevailing strengths of India's economy.

The bond-market tremors came two weeks and two continents apart.

Economic Survey has projected a conservative growth of 6.5-7 per cent for the current fiscal year because of global uncertainties and various domestic challenges, experts said on Monday. The projection is lower than 8.2 per cent growth rate estimated in 2023-24 and tad lower than Reserve Bank's forecast of 7.2 per cent for the current financial year.

NEW DELHI : Going into the 2024 general elections, the ruling Bharatiya Janata Party (BJP) played up its achievements on jobs, welfare schemes and growth. The shock from an electoral result way below expectations makes this a major budget for the party, leading to a core focus on economic revival at an all-round level. With major state elections due later this year and next year, the BJP-led coalition has its work cut out on these four fronts.

The traditional signal for a market bubble, as the popular adage goes, is when your cab driver or barber discusses stocks. The top-down variation of this indicator must be when finance ministry mandarins talk about asset allocation and profit booking. The Economic Survey 2024, tabled in Parliament by finance minister Nirmala Sitharaman on Monday, highlighted various drivers of the Indian economy and suggested policy measures to lift growth and safeguard economic resilience.

Economic Survey FY24, prepared by the Department of Economic Affairs, cast worries over artificial intelligence possibly impacting workers across skillsets and thereby affecting India's economic growth rate.

urbanization, the housing industry is poised for significant transformation as half of India's population is projected to live in urban areas, up from 31% in 2011, said the Economic Survey for 2023-24.

China plus one: Will the dragon now make way for the elephant? As such, many small chemical producers shut down. For bigger companies, costs shot up and approvals took much longer. Many of these companies were catering to global demand, but the government’s tough measures caused the supply of several critical chemicals to dry up.

Economic Survey 2024 Live UpdatesThe Union government tabled the Economic Survey 2023-24 in Parliament. The Economic Survey document, prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and formulated under the supervision of the chief economic adviser, gives insights into the state of the economy and various indicators of 2023-24 (April-March) and some outlook for the current year.

Under the plans the chancellor said billions of pounds of investment could be unlocked in the UK economy from defined contribution (DC) schemes alone and pension pots for savers in defined contribution schemes could be boosted by over £11,000. The review will also look at how to unlock the investment potential of the £360bn Local Government Pensions Scheme (LGPS), which manages the savings of those working to deliver vital local services, as well as how to tackle the £2bn that is being spent on fees. Pension Schemes Bill announced in the King's Speech The announcement comes ahead o...

In a post on X, formerly known as Twitter, last night (21 July), the incumbent president wrote: «I have decided not to accept the nomination and to focus all my energies on my duties as president for the remainder of my term.» Richard de Lisle: How a second Trump win could impact the US economy «Today I want to offer my full support and endorsement for Harris to be the nominee of our party this year. Democrats — it is time to come together and beat Trump,» he added.  The announcement has been welcomed by Democrats and condemnation from Republicans.  America's 2008-2016 president...

5G networks in the world, and post-the launch of 5G services, India's international rank on mobile broadband speeds has improved from 118 to 15 in March 2024, the Economic Survey 2023-24 said Monday.

Market veteran Madhu Kela feels that the one engine of the economy of India doing well is the stock market. It is aiding a lot of capital formation. There has never been a healthier situation for the government. Today, if the government wants to raise even Rs 1 lakh crore, they have to only sell 2-3% of the PSUs and that can give them fiscal space of maybe 0.3-0.4%. There are lots of levers. Why will they want to kill the market? The taxation is not low. When long-term capital gains or short-term capital gains tax is combined with dividend distribution, buyback taxation, STT, and income tax, it is not low and there is a marginal tax on F&O already. The most important point in the mind of the market right now is in the Budget tomorrow, especially in the backdrop of so much commentary coming in that regulator is saying mutual funds are taking away the bulk of deposits from the banking. The regulator, SEBI, is sounding worried about rising speculation on the F&O side. The market is expecting some move in the Budget to curb that. Is it justified to expect some move? Madhu Kela: Not a question I would have loved to start with.

Chinese challenge. The Economic Survey has called it the Chinese Conundrum. The Survey highlights that it would be wrong to presume that India will automatically take over the manufacturing space vacated by China due to changes in global supply chains.