Finance Minister Nirmala Sitharaman on Monday tabled the Economic Survey 2022 in Lok Sabha. She’s expected to table in the Rajya Sabha around 2.40 pm and later on newly-appointed CEA V Anantha Nageswaran will address a press briefing. Earlier, the Union Budget session of Parliament has kickstarted on Monday with President Ram Nath Kovind’s address to the joint sitting of both houses in the Central Hall. Later, Finance Minister Nirmala Sitharaman will present the Economic Survey 2021-22 on Monday and the Union Budget on Tuesday. The Economic Survey will be tabled separately by FM Sitharaman in both Houses and as per the Rajya Sabha schedule it will be presented at around 2.40 pm today. The Budget session beginning today is the sixth to be held since the outbreak of the COVID-19 pandemic in January 2020. The Budget session of 2020 was curtailed by eight sittings and the Budget session of 2021 was shortened by 10 sittings
Economic Survey 2021-22: Various schemes undertaken for students during COVID-19 pandemicThe Economic Survey 2021-22 said that various initiatives were undertaken for the students during the COVID-19 pandemic. The survey was presented by Nirmala Sitharaman in both houses of Parliament.
Economic Survey 2021-22: Various schemes undertaken for students during COVID-19 pandemicThe Economic Survey 2021-22 said that various initiatives were undertaken for the students during the COVID-19 pandemic. The survey was presented by Nirmala Sitharaman in both houses of Parliament.
Economic Survey 2022 on GST collections
“The Economic Survey mentions the highly watched GST collections which contributed significantly to tax buoyancy by crossing Rs 1 trillion consistently from July 2021. The survey highlights that the indirect tax receipts have registered a growth of 38.6 percent in the first eight months of this fiscal year. It is emphasised that continuous improvements are made in an extremely responsive way in GST to remove glitches and necessary changes, with the proactive action of the GST Council. The survey also highlights GST rate rationalisation and maintaining revenue neutrality. With this, the survey highlights points about late fee amnesty scheme and retrospective amendment of interest provisions which gave due relief to the tax payers. The survey acknowledges the efforts against GST evaders and the systemic changes introduced in the recent past related to rate rationalization measures and to correct inverted duty structure. Enlisting the measures taken by the Centre to support States, the survey highlights that the special borrowing window to meet the GST compensation shortfall was extended for the current financial year 2021-22 to raise the endeavour,” says Abhishek A Rastogi, partner at Khaitan & Co.
Outlook should take into account geopolitcal tension, global oil prices’
The Economic Survey 2021-22 projects India’s growth for FY23 at 8-8.5% based on extensive vaccine coverage, gains from supply-side reforms, easing of process friction, and expected robust export growth; a reasonable, upbeat outlook that should be caveated by exogenous factors like geopolitical tensions and global oil prices, says Arun M Kumar, Chairman & CEO, KPMG India.
Niti Aayog Vice-Chairman Rajuv Kumar today sounded optimistic about India’s recovery in the next fiscal. In an exclusive interview with CNBC-TV18, Kumar said the 8-8.85 percent GDP growth forecast in the latest Economic Survey–released earlier today–seemed “just about right” and said he expects investment in the private sector to take off.
Economic Survey 2021-22: Air India sale to boost privatisation; need to encourage private participation across sectorsAir India is the first privatisation in 20 years and will pave the way for the sale of more CPSEs, which are lined up for sale — BPCL, Shipping Corporation, Pawan Hans, IDBI Bank, Concor, BEM and…
According to the SDG India Index Report 2020-21 of NITI Aayog, India’s overall score improved from 60 in 2019-20 to 66 in 2020-21. The country performed well on health and well-being, clean water and sanitation as well as affordable and clean energy.
The Economic Survey presented by Finance Minister Nirmala Sitharaman on Monday estimated a very high level of capital expenditure in the railway sector in the next 10 years. The survey further stated that the Indian Railways has set a target of 100 percent electrification of its network by December 2023 CEA V Anantha Nageswaran said, while addressing the media that growth projections made by Economic Survey more conservative than other agencies. He added taht capital expenditure by state governments has grown by 67% in 2021-22.
Labour reforms are progressing steadily as at least 17 states have pre-published draft rules for four labour codes on wages, social security, industrial relations and occupation safety, health and working conditions (OSH), according to the Economic Survey for 2021-22. “As on January 11, 2022, 26 states/UTs have also pre-published the draft rules under the Code on Wages, 22 states/UTs under Industrial Relations Code, 20 states/UTs under Code on Social Security, and 17 states/UTs under OSH & WC Code,” stated the Survey tabled in Parliament on Monday.
Eco Survey 2022: Fiscal situation comfortable, says Niti Aayog VC; adds infra spending to spur employmentNiti Aayog Vice-Chairman Rajiv Kumar said the country’s financial situation is now very comfortable with the government revenue rising 67 percent and that the Centre is committed to ramping up capital
Many commentators expressed fear in the last two years that the financial system will be very stressed due to the pandemic-related shock. However, this sector has weathered out rather well: Principal Economic Advisor Sanjeev Sanyal
The national capital region replaced India’s silicon valley Bengaluru as home to the most number of new startups getting created in the country. The government recognised over 5,000 new startups in Delhi-NCR compared to 4,514 startups in Bengaluru between April 2019 and December 2021.
From a descriptive document published as part of Union Budget in 1950s, Economic Survey evolved to be a lot more substantial and analytical over the years, presented as a separate document a day before the Budget, says PEA Sanjeev Sanyal