The Economic Survey reaffirms that the worst is behind us and the economy would bounce back with a V-shaped recovery after being hit hard by the COVID-19 pandemic, India Inc said on Friday.
Onion prices had skyrocketed to as high as Rs 100 per kg in the retail markets few months back, forcing the government to ban exports, allow imports and impose stock limits. The exports curbs have been lifted now with softening of prices.
The contraction in FY21 is mainly due to coronavirus (Covid-19) pandemic and the visible damage caused by the subsequent countrywide lockdown to contain it.
The document which was tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha in its debt simulations for worst-case debt analysis assumed the contraction at (-) 7.7 per cent.
The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
Nirmala Sitharaman is all set to present the Budget 2021 on February 1. This year, February 2 (Friday) will mark the beginning of the Budget Session of the Parliament.
The Economic Survey, which is presented on the opening day of the budget session, provides a summary of the annual economic development across the country during the financial year.
President Ram Nath Kovind has strongly condemned violence on Republic Day and said that unfurling of a religious flag at Red Fort was unfortunate.
The Economic Survey 2020-2021 will be presented on January 29. It will be the first economic survey by the Centre that will be tabled amid the pandemic.
The Union Budget 2021-22 will be presented by Finance Minister Nirmala Sitharaman on February 1 (Monday). It will be the first budget presentation amid the pandemic.
Ahead of the Union Budget presentation 2021-2022 on February 1, the Economic Survey 2020-21 will be presented in Parliament on January 29.
The Telangana government has decided to implement 10 percent reservation to the Economically Weaker Sections (EWS) in the state, Chief Minister K. Chandrasekhar Rao announced on Thursday.
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for the vaccine.
Nearly two years after the Centre announced 10 per cent reservation for the Economically Weaker Sections (EWS) in government jobs and educational institutions, the Telangana government on Thursday said it has decided to implement the quota in the state.
Saudi Arabia, the world's largest oil exporter, on Sunday said its investment plans in India are on track, noting that the Indian economy has the strength to recover from the adverse impact of the coronavirus crisis.
Economic Offences Wing of Delhi Police arrested a cheater named Rahul Narang. The arrested person is accused of cheating a man of Rs 3 crore after assuring him to make him his business partner.
Economic Offences Wing of Delhi Police has apprehended absconding builder Brij Bhushan Gupta from Panchkula, Haryana who is accused of cheating flat buyers.
The economic recovery of India has gained momentum due to the "Aatmanirbhar Bharat" economic package announced in May, said a report by the Department of Economic Affairs (DEA).
Jammu and Kashmir's Lieutenant Governor, Manoj Sinha announced Rs 1,350 crores economic package for business community who are facing economic difficulties.
Lieutenant Governor Manoj Sinha on Saturday announced a relief package of Rs 1350 crore for Jammu and Kashmir in a bid to boost the business and the other ailing sectors that have suffered huge losses for several years in the newly formed Union Territory (UT). LG Sinha said that this is additional to the benefits of Atma Nirbhar Bharat and other measures taken by the government to comfort the business community.
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