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Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, presented the Economic Survey 2022-23 in the Union Parliament today. The highlights of the Survey are as follows: State of the Economy 2022-23: Recovery Complete Recovering from pandemic-induced contraction, Russian-Ukraine conflict and inflation, Indian economy is staging a broad based …

India to witness GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, depending on the trajectory of economic and political developments globally. The optimistic growth forecasts stem from a number of positives like the rebound of private consumption given a boost to production activity, higher Capital Expenditure …

The idea of ‘alienation’ by Karl Marx is one of the most widely discussed concepts in social, political and economic theory. It is an idea that a young Marx developed out of his study of Friedrich Hegel. Marx first explained the concept of alienation in Economic and Philosophical Manuscripts and later elaborated …

The Economic Survey 2022-23 presented on January 31, a day ahead of the Budget, showed that 6.49 crore households demanded work under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). Of these, 6.48 crore households were offered employment by the government and 5.7 crore actually availed it. The survey …

India’s domestic pharmaceutical market, estimated at $41 billion in 2021, is likely to touch $130 billion by 2030, as per the Economic Survey 2022-23, tabled in Parliament on Tuesday. Highlighting the role of the Indian pharmaceuticals industry globally, the Survey showed the country was ranked third worldwide in terms of …

The budgetary allocation for education as a percentage of total expenditure has dropped over the past seven years, from 10.4% to 9.5%, the Economic Survey, 2022-23 says. While the expenditure on social services increased from ₹9,15,500 crore to ₹21,32,059 crore, the share of education within this umbrella category shrank from …

Almost half of all health spending in India is still paid by patients themselves directly at the point of treatment, though out-of-pocket expenditure has dropped as the government’s share of spending on health went up significantly after 2013-14, the Economic Survey 2022-23 says. The share of government in the total …

Identifying the shipbuilding industry as a strategically important industry for its role in energy security, national defence, and the development of the heavy engineering industry, the Economic Survey, 2022-23 noted that it has the potential to increase the contribution of the industry and the services sector to the national GDP. …

The five-member Supreme Court Collegium, led by Chief Justice of India D.Y. Chandrachud, on Tuesday recommended to the government the names of Rajesh Bindal and Aravind Kumar, Chief Justices of the Allahabad and Gujarat High Courts, respectively, for appointment as judges in the top court. The court has seven vacancies …

Myanmar today remains pessimistic about its future. Exactly two years ago, the military staged yet another coup, snatching power from the elected leaders. It derailed the limited democracy of the previous decade, violating the 2008 constitution which the generals had given to the people. The situation today The period since …

The Hindu’s editorial, “Energy conundrum” (December 15, 2022), expressing caution about the country’s bubbling enthusiasm in the climate change agenda by going the whole hog on solar energy is timely but spartan, and needs amplification. Apart from the external pressure that is pushing India more and more into the so-called …

It is generally acknowledged that the Budget of 1991 which was presented by the then Finance Minister, Dr. Manmohan Singh, is one of Indian economic history’s landmark events. The Budget is still widely lauded by neo-classical economic commentators because it marked a structural shift in India’s economy away from the …

Painting an exuberant picture of the Indian economy’s prospects thanks to “New Age” reforms undertaken since 2014, the Economic Survey tabled by Finance Minister Nirmala Sitharaman in Parliament on Tuesday asserted that not only were the pandemic-induced blues over, but the outlook for the years ahead was also rosier than …

To support the ‘Minimum Government, Maximum Governance’ vision at the third tier of Government i.e., Panchayats, by the means of technology, the Ministry of Panchayati Raj organized Manthan: Charting New Paths, an Industry consultation on e-Gram SWARAJ 2.0 here today. The inaugural session of the national level conference was led by Dr. Chandra …

Shri Alok Kumar, Secretary, Ministry of Power briefing media in Bengaluru said that, the first G20 Energy Transition Working Group (ETWG) Meeting under India’s Presidency will be held in Bengaluru, from Feb 5-7, 2023. The meeting will have over 150 participants including G20 member countries, nine special invitee guest countries – …

Growing economic inequality is a major concern in most developing countries and India is no exception. According to Oxfam, the richest 1% in India own more than 40% of the country’s total wealth while the bottom 50% share just 3% of it. One of the proven ways to alleviate economic …

The New York-headquartered International Business Machines Corp. (IBM) became the latest to join the list of tech companies that have made large-scale layoffs since late 2022. The company said it would be laying off about 3,900 employees. This comes on the heels of what has been described as Big Tech’s …

The crucial hurdle in the way of reforming the United Nations comes from the disunited state of the UN General Assembly (UNGA), Csaba Korosi, President of the 77th UNGA, said here on Monday. Speaking at a media stakeout, Mr. Korosi, who arrived here on Sunday on a four-day visit ahead …

The Union government will soon kick off the process to set up the 16th Finance Commission, with the Finance Ministry likely to notify the terms of references for the constitutional body, tasked with recommending the revenue sharing formula between the Centre and the States and their distribution among the States, …

Attorney-General R. Venkataramani on Monday in the Supreme Court raised serious objections to petitions being filed in the Supreme Court against various States’ religious conversion laws. “These are State legislations and the State High Courts are hearing them. There are petitions pending there and the same petitioners have now filed …