Economic Survey LIVE | 'India must prioritise investment in grid infra, critical minerals'
Fundamentals of domestic economy remain robust, with strong external account, calibrated fiscal consolidation and stable private consumption, says Survey
Union Finance Minister Nirmala Sitharaman on Friday (January 31) tabled the Economic Survey 2024-25 in the Lok Sabha. The pre-Budget document projected GDP growth of 6.3 to 6.8 per cent for FY26, saying: "The fundamentals of the domestic economy remain robust, with a strong external account, calibrated fiscal consolidation and stable private consumption."
After several quarters of high food inflation, the Survey predicted that food inflation is "likely to soften" in Q4.
Also read | Economic Survey | Paradox: India Inc profits soar, but wage growth dips
Touching upon Ease of Doing Business 2.0, the document said: "The government should be ‘getting out of the way’ and allow businesses to focus on their core mission."
Renewable push
India must prioritise investment in extensive grid infrastructure improvements and secure sourcing of critical minerals to strengthen its renewable energy initiatives, suggested the Survey.
The document tabled in Parliament on Friday noted that despite being one of the world’s lowest greenhouse gas emitters per capita, India has made notable strides in reducing the emissions intensity of its energy consumption. This progress is largely due to the increased deployment of renewable energy sources alongside a suite of energy conservation measures, it also noted.
Also read | Economic Survey | Slowing growth presents reality check for Viksit Bharat
Budget Session begins
The Budget Session of the Parliament began earlier today with President Droupadi Murmu addressing the joint sitting of the two Houses.
The government has listed 16 Bills, besides the financial business, for the Budget session which will be held from January 31 to February 13 before breaking for recess to examine the Budget proposals. The session will reconvene on March 10 and continue till April 4.
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Live Updates
- 31 Jan 2025 11:52 AM IST
Surprised to hear about foreign interference under PM Modi's watch: Karti Chidambaram
Congress MP Karti Chidambaram tells ANI: “It is surprising that the PM has said that there has been foreign interference in the last 10 years under his watch. It's incumbent upon him to expose that foreign interference and use every organ of the state and all forums he has internationally to expose them and go after them legally...”
Chidambaram adds: "I have no expectations from this government since they have a track record of disappointing everybody and I don't intend to have expectations. They have let down the middle-class time and again and they will do so again..."
- 31 Jan 2025 11:45 AM IST
Govt's third term witnessing work at thrice the speed of previous dispensations: Prez Murmu
The government's third term is seeing work done at thrice the speed of previous administrations, President Droupadi Murmu said on Friday, citing decisions on issues such as Waqf boards and One Nation, One Election.
Addressing a joint session of Parliament, signalling the start of the Budget session, Murmu said the government has placed special focus on the education of youth and is creating new employment opportunities for them.
Before starting her address, Murmu paid homage to former prime minister Manmohan Singh who passed away recently. She also offered tributes to those who died at the Maha Kumbh.
"The third term of the government is witnessing work at thrice the speed of previous administrations. Government has taken big decisions on issues such as Waqf boards and One Nation, One Election," she said.
"Under the Ayushman Bharat scheme, government decided to provide health insurance to six crore citizens aged 70 years and above. The government has placed special focus on education of youth and creating new employment opportunities for them," Murmu said.
The president also noted that the government has decided to expand the Pradhan Mantri Awas Yojana to provide new homes to three crore additional families.
