{"id":4927,"date":"2023-01-31T23:07:32","date_gmt":"2023-01-31T17:37:32","guid":{"rendered":"https:\/\/yourcareerheights.com\/?p=4927"},"modified":"2024-07-24T00:42:37","modified_gmt":"2024-07-23T19:12:37","slug":"economic-survey-2023-key-highlights-and-all-about-economic-survey","status":"publish","type":"post","link":"https:\/\/yourcareerheights.com\/?p=4927","title":{"rendered":"Economic Survey 2023 – Key Highlights and all about Economic Survey"},"content":{"rendered":"

Budget Economic Survey 2023:<\/h3>\n
\n\t

\"\"<\/a>F<\/b>inance Minister Nirmala Sitharaman represents the country\u2019s annual pre-budget economic survey at Parliament on January 31, 2023. \u00a0According to the Economic Survey 2022-23, the following fiscal year will see real GDP growth of 6.5 percent.<\/h3>\n

The Indian Economy would also increase by 7% for 2023-24. This growth also depicts that India has become the world's fifth-largest economy.<\/p>\n

Economic Survey 2023 Key Highlights\u00a0<\/b>
\n\u2022 Nirmala Sitharaman presented the Economic Survey in both Parliament Houses ahead of the Union Budget.<\/p>\n

\"\"<\/a> \"\"<\/a>Indian economy staging a broad based recovery across sectors, positioning to ascend to
\npre-pandemic growth path in FY23<\/span><\/strong><\/p>\n

Retail inflation is back within RBI's target range in November 2022<\/p>\n

Direct Tax collections for the period April-November 2022 remains buoyant<\/p>\n

Enhanced Employment generation seen in the declining urban unemployment rate and in the faster net registration in Employee Provident Fund<\/p>\n

Creating public goods to enhance opportunities, efficiencies and ease of living, trust-based governance, enhancing agricultural productivity and promoting the private sector as a co-partner in development is the focus of the government reforms<\/p>\n

Cleaner balance sheets led to enhanced lending by financial institutions<\/p>\n

Growth in credit offtake, increased private capex to usher virtuous investment cycle<\/p>\n

Non-food credit offtake by Scheduled Commercial Banks growing in double digits since April 2022<\/p>\n

\"\"<\/a> \"\"<\/a>Gross Non-Performing Assets (GNPA) ratio of SCBs has fallen to a seven-year low of 5.0<\/p>\n

Social sector expenditure (Centre and States combined) increases to Rs. 21.3 lakh crore in FY23 (BE) from Rs. 9.1 lakh crore in FY16<\/p>\n

Central and State Government\u2019s budgeted expenditure on health sector touched 2.1% of GDP in FY23 (BE) and 2.2% in FY22 (RE) against 1.6% in FY21<\/p>\n

More than 220 crore COVID vaccine doses administered<\/p>\n

Survey highlights the findings of the 2022 report of the UNDP on Multidimensional Poverty Index which says that 41.5 crore people exit poverty in India between 2005-06 and 2019-20<\/p>\n

India declared Net Zero Pledge, to achieve net zero emissions goal by 2070<\/p>\n

A mass movement LIFE\u2013 Life style for Environment launched<\/p>\n

National Green Hydrogen Mission to enable India to be energy independent by 2047<\/p>\n

Private investment in agriculture increases to 9.3% in 2020-21<\/p>\n

Free foodgrains to about 81.4 crore beneficiaries under the National Food Security Act for one year<\/p>\n

About 11.3 crore farmers were covered under PM KISAN in its April-July 2022-23 payment cycle<\/p>\n

India stands at the forefront to promote millets through the International Year of Millets initiative<\/p>\n

Investment of \u20b947,500 crores under the PLI schemes in FY22- 106% of the designated target for the year<\/p>\n

India\u2019s e-commerce market is projected to grow at 18 per cent annually through 2025<\/p>\n

Merchandise exports of US$ 332.8 billion for April-December 2022<\/p>\n

India is the largest recipient of remittances globally receiving US$ 100 billion in 2022<\/p>\n

PM GatiShakti National Master Plan creates comprehensive database for integrated planning and synchronised implementation across Ministries\/ Departments<\/p>\n

UPI-based transactions grew in value (121 per cent) and volume (115 per cent) terms, between 2019-2022, paving the way for its international adoption<\/p>\n

\u2022 According to the survey, the Indian economy would increase by 7% in real terms in the current fiscal year. It also stated that India will continue to be the world's fastest-growing major economy.
\n\u2022 According to the poll, India has become the world's fifth-largest economy, with a nominal GDP of roughly 3.5 trillion US dollars in March 2023.
\n\u2022 According to the poll, the growth in consumer prices has slowed significantly. According to the poll, the annual rate of inflation is less than 6%, and wholesale prices are growing at less than 5%.
\n\u2022 Exports of products and services increased by 16% in the first nine months of the current fiscal year.<\/p>\n

What is Economic Survey 2023-24?<\/b>
\nThe Economic Survey Is An Annual Report Of The Ministry Of Finance, Government Of India. It Represents The Country\u2019s Economic Trends And Ensures A Better Appreciation Of The Resource Mobilization And Their Allocation In The Union Budget.
\n<\/b><\/p>\n

What are the contents of the Economic Survey?<\/b>
\nThe economic survey contains the Ministry\u2019s view on the economical state of the country. It represents the development in the Indian economy over the past financial years and exhibits the country\u2019s performance on essential development programs, highlighting the policy initiatives of the government and the economic prospects in the short to medium term.<\/p>\n

Economic Survey 2023: Significance<\/b><\/p>\n

The Economic Survey represents the country\u2019s economic trends and ensures a better appreciation of the resource mobilization and their allocation in the Union Budget. It analyzes the agricultural, industrial, employment, import, and export trends in the country.
\nThe survey also directs the Gross Domestic Product for the coming financial year and comprises insights into India\u2019s economic growth.
\n<\/b><\/p>\n

Who Publish the Economic Survey?<\/b>
\nThe survey is prepared by the Economics Division of the Department of Economic Affairs under the guidance of the Chief Economic Advisor (CEA). The current CEA of India is Dr. V Anantha Nageswaran.
\nThe first Economic Survey of India was prepared by the Finance Ministry in 1950-51. At that time, the survey was represented along with the Union Budget. However, later it was de-linked from the budget in 1964 and unveiled priorly to provide a context of the latter.<\/h4>\n

Economic Survey 2023 Theme?<\/b><\/p>\n

Every year the theme of the Economic Survey is different. \"The theme for the Economic Survey 2023 is likely to take note of inflation levels, likely pressure on the Indian Rupee due to RBI\u2019s tightening of monetary policy, employment conditions, pick-up in private investment, infrastructure spending, and improvement in the financial growth of the Indian banking sector. \"<\/b><\/span><\/p>\n

Highlights of President\u2019s Speech<\/b><\/p>\n

President Draupadi Murmu addressed the Budget session and highlighted some of the points, such as:
\n\u2022 India is in a better position as compared to other countries due to the decision of the government for the national interest.
\n\u2022 The government e-marketplace has witnessed transactions worth over Rs 3lakh crore.
\n\u2022 GST, Ayushman Bharat are boons for India.
\n\u2022 The government has passed legislation to tackle fugitive economic offenders.
\n\u2022 The Centre is working for women's empowerment.
\n\u2022 Taxpayers are receiving refunds within a few days of filing IT returns.
\n\u2022 11 crore small farmers are the government\u2019s priority.
\n\u2022 36,000 Adivasi families have been covered under Adivasi Ekta Mission.
\n\u2022 Government praise people who support fighting against corruption.<\/p>\n

Source: https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=1894932 &<\/p>\n

https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=1894929<\/p>\n

https:\/\/wap.business-standard.com\/budget\/article-amp\/budget-2023-what-is-the-economic-survey-all-you-need-to-about-it-123012900707_1.html#amp_tf=From%20%251%24s&aoh=16751621779410&referrer=https%3A%2F%2Fwww.google.com<\/p>\n

& Jagran Josh<\/p>\n

<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"

The Economic Survey represents the country\u2019s economic trends and ensures a better appreciation of the resource mobilization and their allocation in the Union Budget. It analyzes the agricultural, industrial, employment, import, and export trends in the country.\u00a0<\/p>\n

The survey also directs the Gross Domestic Product for the coming financial year and comprises insights into India\u2019s economic growth.
\nFinance Minister Nirmala Sitharaman represents the country\u2019s annual pre-budget economic survey at Parliament on January 31, 2023. \u00a0According to the Economic Survey 2022-23, the following fiscal year will see real GDP growth of 6.5 percent.<\/p>\n","protected":false},"author":1,"featured_media":4941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/yourcareerheights.com\/wp-content\/uploads\/2023\/01\/image0151GJ1.jpg?fit=304%2C304&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/posts\/4927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4927"}],"version-history":[{"count":6,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/posts\/4927\/revisions"}],"predecessor-version":[{"id":5098,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/posts\/4927\/revisions\/5098"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/media\/4941"}],"wp:attachment":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}