New Delhi, Jan 31 (PTI) The Economic Survey has used a mix of satellite imagery, geospatial data and cartographic techniques to showcase the country's development and urbanisation over the years. A new chapter, 'Tracking Development through Satellite Images and Cartography', demonstrates the use of satellite and geo-spatial images to gauge various economic phenomenon such as [...]

New Delhi, Jan 31 (PTI) Google received 31,497 complaints from users and removed 94,173 pieces of content based on those complaints in December, the tech giant said in its monthly transparency report. In addition to reports from users, Google also removed 4,05,911 pieces of content in December as a result of automated detection. Google had [...]

New Delhi, Jan 31 (PTI) Indian economy contracted by 6.6 per cent in 2020-21 as against the earlier estimate of 7.3 per cent decline, showing that the COVID-19 pandemic hit economy did not perform as badly as was initially worked out. As per the provisional estimates released in May 2021, the GDP had contracted by [...]

New Delhi, Jan 31 (PTI) India's fleet strength increased to 1,463 vessels with gross tonnage (GT) of 13,011,000 as of December 31, 2021, according to the Economic Survey. At the end of 2019, the country had 1,429 vessels and 12,746,000 of GT, the Survey for 2021-22 said. Finance Minister Nirmala Sitharaman on Monday tabled in [...]

New Delhi, Jan 31 (PTI) More people are now opting for pension amount of Rs 1,000 per month, under the government-run Atal Pension Yojana (APY), and the scheme is gaining popularity among youngsters, according to the Economic Survey 2021-22. APY, the flagship social security scheme of the government, was launched on May 9, 2015, to [...]

New Delhi, Jan 31 (PTI) Indian markets have outperformed other emerging market peers in April-December 2021 on account of good corporate earnings, sharp rise in vaccination and opening up of business establishment across the country, the Economic Survey 2021-22 said on Monday."The benchmark stock market indices in India - Sensex and Nifty-50 - increased by [...]

New Delhi, Jan 31 (PTI) India will retain its tag of the world's fastest-growing major economy as the pre-Budget Economic Survey on Monday forecast an 8-8.5 per cent GDP growth in the fiscal year starting in April, saying it has the fiscal space to do more to support the economy and is well placed to [...]

New Delhi, Jan 31 (PTI) Retail inflation for industrial workers rose to 5.56 per cent in December 2021, compared to the same month a year ago mainly due to higher prices of certain food items, the labour ministry said on Monday. "Year-on-year inflation for the month (December 2021) stood at 5.56 per cent compared to [...]

New Delhi, Jan 31 (PTI) The government should develop strategies to incentivise tomato and onion production during the lean season to check price rise, the Economic Survey said on Monday.Seasonal and shock components contribute to the spikes of the tomato and onion prices, it added.According to the Survey, "Seasonality in prices resulting from seasonal production [...]

New Delhi, Jan 31 (PTI) Insolvency and Bankruptcy Code (IBC) has brought about behavioural changes among corporate debtors with thousands of them opting to resolve the distress at early stages wherever default is imminent, the Economic Survey 2021-22 said on Monday. The main objective of the Code is resolving the Corporate Debtors (CDs) in distress. [...]

Mumbai, Jan 31 (PTI) Equity benchmarks notched up solid gains on Monday after a two-session sliding streak as healthy growth projections in the Economic Survey and supportive global cues enthused investors. A robust recovery in the rupee further bolstered sentiment, traders said. The 30-share BSE Sensex opened on a firm footing and kept its momentum [...]

New Delhi, Jan 31 (PTI) Different indicators on employment have bounced back remarkably after showing a dip during April-June 2020 owing to nationwide lockdown as a result of the COVID-19 pandemic, according to the Economic Survey tabled in Parliament on Monday. "The various indicators of employment have bounced back remarkably, after showing a decline during [...]

New Delhi, Jan 31 (PTI) The government has taken many initiatives to improve port governance, augment capacity utilisation, enhance port efficiency and connectivity, the Economic Survey 2021-22 said on Monday. Noting that port performance in an economy is crucial for trade competitiveness, the Survey said expansion of port capacity has been accorded the highest priority [...]

New Delhi, Jan 31 (PTI) India has progressed on the fulfillment of Sustainable Development Goals (SDGs), the Economic Survey 2021-22 said on Monday citing an improvement in the overall score of NITI Aayog SDG India Index & Dashboard. The Survey also highlighted the importance of balancing rapid economic growth with conservation, ecological security & environmental [...]

New Delhi, Jan 31 (PTI) There is a need for a "standardised framework for cross-border insolvency" that will help lenders of debt-ridden companies to claim and recover the corporations' assets and liabilities on foreign shores also, according to the Economic Survey 2021-22. It mentioned about the report of the Insolvency Law Committee, which had recommended [...]

New Delhi, Jan 31 (PTI) 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 [...]

New Delhi, Jan 31 (PTI) The next 10 years will see a very high level of capital expenditure in the railway sector as capacity growth has to be accelerated, so that by 2030 it is ahead of demand, as per the Economic Survey. Up to 2014, capex on railway was barely Rs 45,980 crore per [...]

New Delhi, Jan 31 (PTI) The economic shock of the pandemic has been weathered well by the commercial banking system so far, even if some lagged impact is still in pipeline, said the Economic Survey 2021-22. Total net profit of public sector banks (PSBs) increased from Rs 14,688 crore during the first half of 2020-21 [...]

New Delhi, Jan 31 (PTI) Beginning as a less than 50-page document in the 1950s, the Economic Survey has evolved over the years, running into hundreds of pages providing a detailed analysis of the economy and prescribing policy measures to deal with challenges. The latest survey prepared by a team led by Principal Economic Adviser [...]

The RBI acted even as Srei's equity infusion proposals from many global investors, including Singapore's Makara Capital (Rs 2,200 crore) and US-based Arena Investors (Rs 2,000 crore), were pending with it. MUMBAI, India, Jan. 31, 2022 /PRNewswire/ -- These two owe around Rs 32,000 crore to the system: around Rs 18,000 crore to banks led [...]

New Delhi, Jan 31 (PTI) Retail investors' interest in the Indian securities market has seen a significant uptick, as 2.21 crore individual demat accounts were added in April-November 2021, underpinned by the buoyancy in the stock market, according to the Economic Survey. "With continuing buoyant trend in Indian stock markets, participation by individual investors in [...]

New Delhi, Jan 31 (PTI) Net foreign direct investment recorded a lower inflow of USD 24.7 billion and the gross FDI moderated to USD 54.1 billion in April-November 2021 due to sluggish equity investment, the Economic Survey on Monday said.Computer software and hardware attracted the highest FDI equity inflows of USD 7.1 billion in April-September [...]

New Delhi, Jan 31 (PTI) The government has set up a National Land Monetisation Corporation to fast track monetisation of land and non-core assets of public sector entities, the Economic Survey said on Monday. So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetisation from CPSEs including MTNL, BSNL, BPCL, [...]

New Delhi, Jan 31 (PTI) Terming infrastructure as the backbone for any economy, the Economic Survey on Monday said there has been a consistent increase in the construction of National Highways/roads since 2013-14, with 13,327 kms constructed in 2020-21 as compared to 10,237 kms in 2019-20. The Survey further said the extent and quality of [...]

New Delhi, Jan 31 (PTI) The trajectory of the tourism sector, especially international tourism, remains uncertain due to the spread of the Omicron variant of COVID-19, according to Economic Survey 2021-22. The pandemic has had a debilitating impact on world travel and tourism everywhere, including India, and the resumption of international tourism will continue to [...]

New Delhi, Jan 31 (PTI) Carmakers are saddled with a backlog of over 7 lakh orders as of December 2021, due to the the shortage of semiconductors, according to the Economic Survey. With the delay in supply, the average lead time (the difference between the date of order and actually receiving in the automobile) for [...]

New Delhi, Jan 31 (PTI) With forex reserves of over USD 630 billion and plenty of "policy room" to deal with the situation, India can withstand normalisation of monetary policy by central banks of large economies like the US Federal Reserve, the Economic Survey said on Monday.The survey noted that due to accretion of large [...]

New Delhi, Jan 31 (PTI) The government has set up a National Land Monetisation Corporation to fast track monetisation of land and non-core assets of public sector entities, the Economic Survey said on Monday. So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetisation from CPSEs including MTNL, BSNL, BPCL, [...]

New Delhi, Jan 31 (PTI) The government has taken many initiatives to improve port governance, augment capacity utilisation, enhance port efficiency and connectivity, the Economic Survey 2021-22 said on Monday. Noting that port performance in an economy is crucial for trade competitiveness, the Survey said expansion of port capacity has been accorded the highest priority [...]

New Delhi, Jan 31 (PTI) India should focus on right diversified energy mix laying focus on fossil fuels in view of recent crisis in Europe due to high natural gas prices and slower wind speed for turbines to generate power, according to the Economic Survey. The recent surge in prices of natural gas in Europe [...]

New Delhi, Jan 31 (PTI) Farm credit worth over Rs 7.36 lakh crore has been disbursed to farmers during the first six months of the 2021-22 fiscal year, according to the Economic Survey. The government has fixed a farm credit target of Rs 16.50 lakh crore for the current fiscal. "... Against this target, a [...]

New Delhi, Jan 31 (PTI) The Economic Survey on Monday pitched for giving a push to the ongoing negotiations for the proposed free-trade agreements (FTAs) as these pacts will help in diversifying the country's export basket and destinations. It added that India has diversified its export destinations in the past 25 years, yet more than [...]

New Delhi, Jan 31 (PTI) Terming infrastructure as the backbone for any economy, the Economic Survey on Monday said there has been a consistent increase in the construction of National Highways/roads since 2013-14, with 13,327 kms constructed in 2020-21 as compared to 10,237 kms in 2019-20. The Survey further said the extent and quality of [...]

Singapore, Jan 31 (PTI) Singapore Prime Minister Lee Hsien Loong on Monday said he is “cautiously optimistic” about the COVID situation improving in the year ahead, as the city-state progressively reopens its borders and resumes travel, putting the pandemic-hit economy on the path to recovery. Speaking to journalists on a visit to shopping centre Jurong [...]

New Delhi, Jan 31 (PTI) Foreign direct investment in India's pharmaceutical sector saw a "sudden spurt" in 2020-21 mainly on account of investments to meet COVID-19-related demands for therapeutics and vaccines, according to the Economic Survey. In the April-September 2021 period, the FDI inflows continued to be buoyant at Rs 4,413 crore, growing at the [...]

New Delhi, Jan 31 (PTI) India's crude steel production increased 25 per cent year-on-year to 66.91 million tonne during April-October period of 2021-22, according to the Economic Survey. During the period, the country's output of finished steel registered a year-on-year (y-o-y) growth of 28.9 per cent to 62.37 MT, while the consumption of the same [...]

New Delhi, Jan 31 (PTI) The combined expenditure of the Centre and the state governments on the social services sector increased to Rs 71.61 lakh crore during the financial year 2021-22, according to the Economic Survey. At Rs 71.61 lakh crore, the expenditure is 9.8 per cent higher than Rs 65.24 lakh crore (revised estimate) [...]