Parliament's budget session started at 11am today, i.e. H. on January 31, 2023. Indian President Droupadi Murmu addressed the two houses in a joint session. The economic report has been presented with economic growth forecasts for the fiscal year 2023-24. FM Nirmala Sitharaman presented the economic report in Parliament. According to the Economic Survey, the Indian economy will grow by 6.5% in 2023-24, compared to 7% this fiscal year and 8.7% in 2021-22.
31 Jan 2023, 07:10:21 PM IST
Markets post modest gains ahead of the Budget, the Fed's interest rate decision
Equity benchmarks ended with marginal gains today as investors kept their powder dry ahead of the presentation of the Union budget and US Federal Reserve interest rate decision. Fag-end buying helped the 30-part BSE benchmark Sensex settle up 49.49 points, or 0.08 percent, at 59,549.90. During the day it hit a high of 59,787.63 and a low of 59,104.59. The broader NSE Nifty rose 13.20 points, or 0.07 percent, to close at 17,662.15.
31 Jan 2023, 06:57:27 PM IST
Sanjeev Krishan, Chairman, PwC India
“Economic Survey 2023 presents an upbeat growth forecast of 6.5% as a baseline as the lagged impact of reforms implemented over the past 6 years pays off as the strains on the economy from the pandemic, high commodity prices and risks of a global slowdown ease off. It is rightly assumed that if assumptions on the external and demand fronts hold true, strong bank and corporate balance sheets will add to government investment to generate a boost in private investment."
31 Jan 2023, 06:56:10 PM IST
Biz2credit and Biz2X's Rohit Arora on eco survey
Rohit Arora, CEO and co-founder of Biz2credit and Biz2X, said: “The Economic Survey has estimated India's growth at 6.5% in 2023-24, compared to 7% in the current fiscal year and 8.7% in 2021-22. Nominal gross domestic product (GDP) is expected to be 11% in the next fiscal year.
The good news is that India's post-COVID economic recovery has been robust and momentum is building. Much of this growth can be attributed to rising private consumption, higher capital spending, firming corporate balance sheets, credit growth to small businesses (up 30.5% between January and November 2022) and the return of migrant workers to cities and towns.
The focus on investment spending driven growth will enable India to keep the differential between growth and interest rates positive. A positive growth rate differential will help keep debt levels sustainable. I also believe that the supply-side reforms that the government is about to announce will bring long-term positive benefits to the economy. However, as the survey rightly pointed out, the economy needs to remain cautious on CPI inflation.
31 Jan 2023, 06:41:07 PM IST
Easier tax, rules for relocating start-up location to India
The Economic Survey has called for simpler tax rules and processes to help Indian-owned startups reverse flip, or shift their base back to India.
31 Jan 2023, 05:03:35 PM IST
Demat accounts up 39% in November 2022
The number of Demat accounts rose to 10.6 million in November 2022, a sharp increase of 39 percent on an annualized basis, according to the Economic Survey 2022-23.
31 Jan 2023, 04:40:08 PM IST
Healthcare Spending at 2.1% of GDP in FY23: Business Survey
Projected health spending by central and state governments reached 2.1% of GDP in FY23 and 2.2% in FY22, up from 1.6% in FY21, according to the 2022-23 Economic Report.
31 Jan 2023, 04:05:50 PM IST
Subdued global demand in 2023 could impact exports
Subdued demand in 2023 could stifle global trade and impact several countries including India, according to the 2022-23 economic report tabled in parliament on Tuesday.
31 Jan 2023, 03:48:25 PM IST
Vinod Nair on Economic Survey
Vinod Nair, Head of Research at Geojit Financial Services said: “Economic surveys are optimistic that India will continue to grow at a healthy rate in the medium term, led by consumption and investment. And growth can increase to up to 7 to 8 percent in the future. The fundamentals of the Indian economy are sound, but the concern in the short to medium term is the prolonged widening current account deficit, which could impact growth and INR depreciation. For the budget, FY24 will be challenging to plan spending due to a near-term slowdown in the economy, high core inflation and a fiscal deficit."
31 Jan 2023, 03:28:14 PM IST
To inflation
Broadly speaking, inflation should behave "decently" in FY24 barring headwinds, CEA Nageswaran said today.
31 Jan 2023, 03:11:48 PM IST
On GDP growth rate
According to the CEA, the government survey forecasts a FY24 GDP growth rate of 6.5 percent in a range of 6 to 6.8 percent. Given the global uncertainties, the range is deliberately asymmetrical.
31 Jan 2023, 02:53:24 PM IST
On digital infrastructure
Nageswaran said: I believe India's improved balance sheet and digital infrastructure will add 60 to 100 basis points to India's GDP growth. The recovery phase of the pandemic is over for India."
31 Jan 2023, 02:48:51 PM IST
"The government is becoming more transparent about its figures"
The CEA said that not only has the quality of government spending improved in recent years, but the government has also become more transparent about its numbers.
31 Jan 2023, 02:46:26 PM IST
Indian economy to grow faster one day...
India's economy is set to grow faster once the global shocks from the pandemic and the war between Russia and Ukraine subside, says Nageswaran.
31 Jan 2023, 02:41:42 PM IST
India will do better this decade
Reforms over the past eight years mean the country will do better this decade, Nageswaran said.
31 Jan 2023, 02:41:18 PM IST
About the banking, non-banking and corporate sectors
Sectors like banks, non-banks and corporates have good balance sheets after a long time.
31 Jan 2023, 02:39:14 PM IST
"Economic recovery is complete"
Economic recovery complete; Non-bank and corporate sectors now have healthy balance sheets, so we no longer need to talk about a recovery from the pandemic, we need to look to the next phase, Nageswaran said.
31 Jan 2023, 02:38:10 PM IST
CEA on IMF GDP growth forecast
CEA Nageswaran said the IMF maintained its GDP growth forecast for India for the current and next fiscal years. Their projections show an acceleration in India's GDP growth rate.
31 Jan 2023, 02:04:34 PM IST
Business survey highlights focus on rural development
The survey finds that 65% (2021 data) of the country's population live in rural areas and 47% of the population depend on agriculture for their livelihood
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31 Jan 2023, 01:57:24 PM IST
Investment target of ₹7.5 lakh cr for FY23 to be met: survey
The country's economy is expected to grow 8-8.5% in the fiscal year from April 1 and is well positioned to meet future challenges based on widespread vaccination coverage, supply-side reforms and relaxation of regulations, the Vorab said -Budget Economic Survey on Monday. The 2021-22 Economic Report was presented by Union Finance Minister Nirmala Sitharaman in Parliament before the annual budget on Tuesday.Read more here
31 Jan 2023, 01:56:42 PM IST
Economic Survey: The CAD could widen further on the back of high global commodity prices
The government's annual economic report said on Tuesday that India's current account deficit (CAD) could widen further as global commodity prices remain elevated. However, the country's economy remains strong, it said.Read more here
31 Jan 2023, 01:50:52 PM IST
Economic Survey 2023: Here are the key highlights
The Economic Report for 2023-24 was presented to Parliament on Tuesday 31 January 2023, one day ahead of the Union Budget to be presented by Finance Minister Nirmala Sitharaman on Wednesday 1 February 2023. The Economic Report is an annual report of the economy, presented a day before the budget, examining the performance of each sector and then suggesting future steps.Read more here
31 Jan 2023, 01:36:33 PM IST
India vows fiscal caution as global risks weigh on growth
The Indian government said it will focus on rebuilding fiscal space lost during the pandemic to face new risks from a challenging global environment that has already started to weigh on domestic demand.
31 Jan 2023, 01:35:08 PM IST
Strong demand and high spending to drive growth
Domestic demand, increase in capital spending to support growth. Rupee could come under pressure if CAD expands further, Economic Survey 2023
31 Jan 2023, 01:34:17 PM IST
“Borrowing costs will be higher for longer”
Borrowing costs may stay 'higher for longer', stalled inflation could prolong tightening cycle
31 Jan 2023, 01:33:58 PM IST
FY24 real GDP growth and baseline growth
FY24 real GDP growth at 6-6.8% and FY24 baseline real GDP growth at 6.5%.
31 Jan 2023, 01:32:37 PM IST
The registration of the employee provision fund increased
Private consumption and the economic growth supported by capital formation in the current financial year have contributed to the creation of jobs; The city's employment rate fell while enrollment in the employee provident fund rose
31 Jan 2023, 01:30:19 PM IST
GST payments on the rise
After falling in FY21, GST paid by small businesses has increased and has now exceeded pre-pandemic levels, reflecting the effectiveness of targeted government intervention
31 Jan 2023, 01:29:47 PM IST
Investments grew by 63.4%
Central government investment increased by 63.4% from April to November of the current fiscal year
31 Jan 2023, 01:29:27 PM IST
The Indian economy withstood the aftermath of the war between Ukraine and Russia
India's economic resilience has helped meet the challenge of mitigating external imbalances caused by the Russia-Ukraine conflict without losing growth momentum
31 Jan 2023, 01:22:42 PM IST
real estate prices rise
Firming of prices after release of pent-up demand, decrease of inventories
31 Jan 2023, 01:22:13 PM IST
Bank credit growth is expected to be brisk in FY24
Mild inflation and moderate borrowing costs affect banks' creditworthiness
Lending growth to small businesses is remarkably high at over 30.5% from January to November 2022
31 Jan 2023, 01:18:43 PM IST
The survey highlights programs that have driven growth
Loan disbursement, investment cycle, expansion of public digital platform and programs such as PLI, National Logitics Policy and PM Gati Shakti to promote economic growth
31 Jan 2023, 01:18:26 PM IST
The global slowdown affected exports
Export growth weakened in the second half of the current financial year; The increase in the growth rate in 2021-22 and the first half of the current fiscal year caused the production processes to be switched from “mild acceleration” to “cruise mode” *
Slowing world growth and shrinking world trade led to a loss of export momentum in the second half of the current year.
31 Jan 2023, 01:18:08 PM IST
Inflation didn't creep up too much
Inflation tolerance range compared to several advanced nations
31 Jan 2023, 01:15:21 PM IST
CAD can expand further
Global commodity prices remain high and economic growth momentum remains strong.
If the CAD continues to expand, the rupee could come under depreciation pressure
The overall external situation should remain manageable
India has sufficient FX reserves to fund CAD and intervene in the FX market to manage rupee volatility.
Current account deficit will widen further
31 Jan 2023, 01:14:29 PM IST
Borrowing costs remain high
Borrowing costs may stay 'higher for longer', stalled inflation could prolong tightening cycle
31 Jan 2023, 01:13:54 PM IST
Inflation forecast: 6.8% this fiscal year
RBI forecast of 6.8% inflation this fiscal year outside the upper bound of the target, not high enough to discourage private consumption, nor too low to weaken the incentive to invest
31 Jan 2023, 01:13:27 PM IST
Highlight des Sconomic Survey 2023
According to the economic survey, growth will be driven by private consumption, higher capital spending, strengthening corporate balance sheets, credit growth to small businesses and the return of migrant workers to cities.
31 Jan 2023, 01:11:55 PM IST
Highlights of the 2022-23 Business Survey presented to Parliament
India's economy is projected to grow 6.5% in 2023-24, compared to 7% this fiscal year and 8.7% in 2021-22.
India remains the fastest growing major economy in the world.
Nominal GDP should be 11% in the next fiscal year.
Real GDP growth will be in the range of 6-6.8% in the next fiscal year depending on global economic and political developments.
31 Jan 2023, 01:06:49 PM IST
FM Nirmala Sitharaman submits Parliament poll, GDP growth at 6-6.8%
The 2022-23 Economic Report has projected a GDP growth rate in the range of 6 to 6.8 percent for the next fiscal year 2023-24 (FY24), versus projected growth of 7 percent in the current fiscal year, the economic survey, which was released in Parliament on Tuesday was presented.
31 Jan 2023, 12:50:02 PM IST
Everyone needs to know about the business survey
The survey contributes to a better understanding of the Union budget by showing the country's priorities for the next fiscal year and the sectors that need more weight.
The first business survey originated in 1950-51 when it was formerly part of the household records. In the 1960s, according to the ANI news agency, it was separated from the budget documents and presented one day before the Union budget.
The economic report document will provide insights into the economic situation and various indicators in the current fiscal year 2022-23 and the outlook for the following year.
31 Jan 2023, 12:49:02 PM IST
What is an economic survey?
Economic Survey is a document tabled in both Houses of Parliament that provides an overview of developments in the Indian economy over the past financial year. The Economic Report document includes Volume I, Volume II and the Statistical Appendix. This happens a day before the finance minister submits the Union budget to Parliament. It was separated from the household in 1964 and revealed in advance to establish association with the latter. The Economic Report is prepared by the Economics Division of the Treasury Department's Economics Department, under the overall direction of the Chief Economic Adviser (CEA).
31 Jan 2023, 12:45:33 PM IST
FM will present the Economic Survey shortly
Parliament's budget session started at 11 a.m. today. After the President's speech, the economic survey with forecasts for economic growth for the 2022/23 financial year will be presented. The Minister of Finance will submit the economic report shortly.
31 Jan 2023, 12:44:50 PM IST
About 3,000 women farmers benefited from PM-KISAN: Prez Murmu
President Droupadi Murmu said on Tuesday that about 3,000 women farmers have benefited from the PM-KISAN program€So far they have been transferred 54,000 crore.
The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) program was launched in February 2019 but has been implemented since December 2018. Under the program, eligible farmers receive a financial benefit of€6,000 per year in three equal installments of€2,000 every four months. The fund is transferred directly to the bank accounts of the beneficiaries.
In her first address to the joint session of parliament at the start of the budget session, Murmu said the government's priority is 11 million small farmers who have been deprived of benefits for decades. These farmers are now empowered. "Under PM-KISAN more than€2.25 lakhcrore was transferred. Importantly, about 3 lakh are peasant women,” Murmu said.
31 Jan 2023, 12:40:11 PM IST
No mention of issues such as unemployment, inflation in President's address: BRS MP
We heard the President's speech today, but the issues of unemployment and inflation were not mentioned. I suggest the President to advise the Prime Minister to introduce a law called 'Adani Law' as there is now only croony capitalism: BRS MP K Keshava Rao
31 Jan 2023, 12:33:34 PM IST
India is expected to lock in growth at 6.5% next year amid global risks
India's economy is likely to slow for a second straight year as financial conditions tighten and supply chains are disrupted due to an ongoing war in Europe, officials familiar with the matter told Bloomberg.
Gross domestic product is expected to grow 6.5% in the fiscal year from April, compared with the estimated 7% expansion for the current year, officials said, asking not to be identified ahead of an official announcement. That figure is higher than the International Monetary Fund's forecast of 6.1% growth - which will still make it the fastest pace among major economies.
31 Jan 2023, 12:31:32 PM IST
“Budget should focus on economy, not elections: MoS Finance
Ahead of the budget session Tuesday, Union Finance Minister Pankaj Chaudhary said "elections keep coming," the Union budget for 2023-24 will focus on improving people's economic conditions, not the elections. "As for the budget in terms of elections, elections come and go, but how the economic condition of the country's people can be improved, Hon'ble Modi ji's attention is always there and will be reflected in this budget," Chaudhary said. Chaudhary said Union Finance Minister Nirmala Sitharaman will present the economic report later today
31 Jan 2023, 12:23:06 PM IST
India is trying to find collective solutions to global challenges together with the G20 member countries
President Droupadi Murmu said the country is trying to find common solutions to global challenges together with G20 member countries
31 Jan 2023, 12:16:33 PM IST
The President's speech ends
President Droupadi Murmu finished her speech in Parliament. Vice President Jagdeep Dhankhar will now read selected parts of her speech in English. Finance Minister Nirmala Sitharaman will shortly present the Economic Survey 2023.
31 Jan 2023, 12:13:11 PM IST
India strengthens new identity “Pharmacy of the World”
Today, on the one hand, India carries its ancient knowledge of yoga and Ayurveda out into the world. On the other hand, it reinforces its new identity as the "pharmacy of the world": President Droupadi Murmu to the joint session of Parliament when the budget session begins
31 Jan 2023, 12:10:17 PM IST
India ranked 40th in Global Innovation Index out of 81 in 2015: President
In 2015, India was ranked 81st in the Global Innovation Index. Now we have reached the 40th place. 7 years ago when there were only a few hundred registered startups in India, today that number is around 90,000.
31 Jan 2023, 12:02:12 PM IST
Land ahead with inspiration from five souls: President
In the golden age of independence, the country moves forward with the inspiration of five souls. My government is constantly trying to get rid of every sign of slavery, every mentality. What was once Rajpath has now become Kartipath, says President Droupadi Murmu
31 Jan 2023, 12:00:44 PM IST
The President says the subway network has grown more than three times in the last 8 years
In the last eight years, the country's subway network has more than tripled.
31 Jan 2023, 11:59:17 AM ACTUAL
The government strives to get rid of every sign of slavery
The government is striving to get rid of any sign of slavery, an example is the name change from Rajpath to Kartavya Path: Prez Murmu
31 Jan 2023, 11:56:50 AM IST
Arms exports have increased sixfold, says President
As a result of new initiatives by my government, our arms exports have increased six-fold. I am proud that today the INS Vikrant is also the first domestic aircraft carrier to join our Navy: President Murmu
31 Jan 2023, 11:55:26 AM ACTUAL
President 90,000 startups in India now
President Murmu has said the country now has 90,000 startups
31 Jan 2023, 11:49:55 AM IST
President speaks about development projects
Ayodhya Dham will be developed on one side and modern Parliament will be built on the other side. While the redevelopment of Kedarnath Dham and the development of the Kashi Vishwanath Dham Corridor and Mahakal Project were being completed, a medical college was being established in each district at the same time: Pres Murmu
31 Jan 2023, 11:47:28 AM ACTUAL
President speaks about PM Garib Kalyan Anna Yojana
I am pleased that my government has decided to extend Prime Minister Garib Kalyan Anna Yojana according to the new circumstances. This is the identity of a sensitive and pro-poor government... This program is appreciated around the world: President Droupadi Murmu in Parliament
31 Jan 2023, 11:45:54 AM IST
The government has chosen the path of consolidating heritage and prioritizing development
Our heritage connects us to our roots and our evolution gives us the courage to touch the sky. That is why my government has chosen the path of consolidating heritage and prioritizing development, says President Murmu
31 Jan 2023, 11:44:25 AM IST
Empowerment of women Core of all programs put in place by the government
Women's empowerment has been at the core of all programs introduced by my administration. Today we see the success of "Beti Bachao, Beti Padhao". For the first time in the country, no. of women is more than men and women's health has also improved more than before: President Murmu
31 Jan 2023, 11:43:15 AM IST
The Emerging Districts program now repeats at the block level: President
The Aspirational Districts program is now being replicated at the block level, for which 500 blocks have been identified nationwide. The Living Villages program to develop villages in border areas has also been launched, says President Murmu
31 Jan 2023, 11:42:44 AM IST
India has made protecting the lives of poor people its top priority during Covid
We have seen that during the COVID period, life had become difficult for the poor around the world. But India is one of those countries that has given top priority to protecting the lives of the poor and has tried to ensure that no poor in the country sleeps on an empty stomach: President
31 Jan 2023, 11:40:25 AM IST
Garibi hatao' is no longer just a slogan
"Garibi hatao" is no longer just a slogan. My government is working to find a lasting solution to the problems of the poor and empower them: President Droupadi Murmu
31 Jan 2023, 11:35:16 AM ACTUAL
More than £27,000,000 has been made available to millions of people
President Murmu says: “With full transparency, more than€27 lakh crores were crores donated by people. A World Bank report states that with such programs and systems, India has been able to save millions of people from falling below the poverty line during COVID.
31 Jan 2023, 11:34:01 AM ACTUAL
The government has worked for every section of society without any discrimination, says President Murmu
My government has worked for every segment of society without any discrimination. As a result of my government's efforts over the past few years, many basic facilities have either reached or are very close to 100% population density, says President Murmu
31 Jan 2023, 11:33:18 AM IST
Approximately 11 million families are connected to tap water: President
As part of the Jal Jeevan Mission, around 11 million families were connected to the water supply in three years. Poor families would benefit the most, President Murmu said at the joint session of Parliament
31 Jan 2023, 11:30:38 AM IST
Corruption is the greatest enemy of democracy and social justice, says President Murmu
The President said: "My government firmly believes that corruption is the greatest enemy of democracy and social justice. In order to confiscate the property of fugitives, my government enacted the Fugitive Economic Offenders Act.
31 Jan 2023, 11:22:40 AM IST
Stable, fearless and resolute government in country, says President
Today there is a stable, fearless and resolute government in the country working to realize the big dreams, said President Murmu.
From surgical strikes, to strict anti-terrorism measures, appropriate responses to LoC and LAC, to the repeal of Article 370 in J&K and the abolition of Triple Talaq, the identity of this government has been the one crucial,” she said.
31 Jan 2023, 11:11:51 AM ACTUAL
India's self-confidence at its highest: President Murmu
President Murmu said in the joint session of Parliament: "Today India's confidence is at its highest and the world is looking at it from a different perspective. India offers solutions to the world"
31 Jan 2023, 11:09:47 AM ACTUAL
The President says that by 2047 we must build a nation bound to the pride of the past
President Murmu said in her first address: “In 2047 we must build a nation that will be bound to the pride of the past and that will have all the golden chapters of modernity. We must build an India that is 'aatmanirbhar' and capable of fulfilling its humanitarian duties.”
31 Jan 2023, 11:08:51 AM ACTUAL
President Murmu arrives at Parliament to deliver her first address
President Droupadi Murmu arrives at Parliament to deliver her first speech before the joint session
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31 Jan 2023, 10:52:48 AM IST
Ceremonial escort of President Droupadi Murmu to Parliament
Ceremonial escort of President Droupadi Murmu to Parliament to address the joint session at the start of the budget session.
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31 Jan 2023, 10:44:57 AM IST
The President's Address is a Matter of Pride for Our Constitution: PM Modi
Ahead of the budget session, PM Modi said: "The President's first address before the joint session of Parliament is a matter of pride for our Constitution and in particular for respect for women. The whole world is watching India."
AAP, BRS to Boycott President's Address Today
31 Jan 2023, 10:40:56 AM IST
Speech by PM Modi before budget session
Speech by PM Modi before budget session. He says: “The budget session starts today and at the very start, credible voices from the business world brought a positive message, a glimmer of hope and a dawn of excitement. Today is important, the President will address the joint session of Parliament for the first time."
31 Jan 2023, 10:22:34 AM ACTUAL
The 2023 budget is prepared taking into account all areas of society: MoS Finance
MoS Finance Pankaj Chaudhary has said that the economic report will be presented today by FM Sitharaman. the
"The 2023 Union budget will take into account all sections of society and also the country's economy," he added.
31 Jan 2023, 09:57:01 AM ACTUAL
Sonia Gandhi attends the President's address as other Cong MPs are stuck in Srinagar due to bad weather
Sonia Gandhi, leader of the Congress Parliamentary Party, will attend the President's address in Parliament today as many MPs from the party in Srinagar, J&K, are ailing due to bad weather.
AAP, BRS have boycotted the President's address.
31 Jan 2023, 09:46:26 AM ACTUAL
Markets ahead of the 2023 economic report tabled in Parliament
Sensex fell 203.74 points to 59,296.67 in early trade; Nifty falls 52.8 points to 17,596.15. The rupee is down 9 paise to 81.61 in early trade against the US dollar
31 Jan 2023, 09:37:28 AM ACTUAL
BRS MP on boycotting President's speech
BRS MP K Keshava Rao said both BRS and AAP have decided to boycott today's presidential address to parliament. "We are not against the President, we just want to highlight the governance failures of the NDA government through democratic protest," he said.
31 Jan 2023, 09:28:47 AM ACTUAL
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31 Jan 2023, 09:20:52 AM ACTUAL
Mallikarjun Kharge, other Congressmen, to miss President's address due to flight delay from Srinagar
Jairam Ramesh said Mallikarjun Kharge and many other congressmen will not be able to attend the President's address to both houses of Parliament today at 11 am due to delayed flights from Srinagar airport due to bad weather conditions.
Speaking to ANI, Adhir Ranjan Chowdhury said: “Due to bad weather in Srinagar, I got stranded at Srinagar airport. I may not be able to attend the President's speech in Parliament today. So I express my deepest regrets, I will convey this to the speaker as well."
31 Jan 2023, 09:00:07 AM ACTUAL
The IMF cuts India's GDP growth forecast to 6.1% in 20233
Ahead of the economic survey, the International Monetary Fund (IMF) has said it expects some slowdown in India's economy in the next fiscal year, forecasting growth of 6.8 percent during the current fiscal year ending March 31 at 6 .1 percent.Read more here
31 Jan 2023, 08:56:33 AM ACTUAL
President Droupadi Murmu speaks at a joint session of Parliament
President Droupadi Murmu speaks at a joint session of Parliament. This will be the first address by resident Droupadi Murmu at the Lok Sabha and Rajya Sabha joint session. She was elected President last year.
There will be a separate session of the Rajya Sabha to deal with government business half an hour after the end of the President's address.
The session will be of short duration in accordance with procedures for conducting government business.
The meeting will take place in two parts, with the first part ending on February 13th. The second part takes place on March 13th and ends on April 6th.
In the first part of the meeting, the thank you request for the President's speech will also be discussed. Prime Minister Narendra Modi will respond to the debate in both Lok Sabha and Rajya Sabha. The government will also advance its legislative agenda in the budget session.
31 Jan 2023, 08:36:42 AM ACTUAL
Economic survey likely to lock India's GDP growth at 6-6.8% in FY24
The 2022-23 (FY23) Economic Bulletin, to be released one day ahead of the 2023-24 (FY24) Union Budget, is expected to lock India's Real Gross Domestic Product (GDP) growth in 2023-24 at 6-6.8%. The government survey, which highlights the state of the economy in the current fiscal year 2022-23, is expected to say that growth for fiscal year 24 will be 6.5% in the base case.Read more here
31 Jan 2023, 08:28:10 AM IST
Bharat Rashtra Samithi to boycott President Murmu's joint address to Parliament today
Bharat Rashtra Samithi (BRS) will boycott the President's address today. A BRS source confirmed to ANI: "The BRS will boycott the President's address before the joint session of Parliament as a sign of protest at the NDA government's failures on all governance fronts."
Asked why they chose to jump address the president, who holds the country's highest constitutional office, BRS Lok Sabha MP Ranjith Reddy said there were good reasons to boycott the speech. "Even the governor of Telangana is a constitutional authority, but you see what she's done. That's good reason for us to boycott [the president's address]," Reddy said.
The BJP-led central government and the BRS regime in Telangana have been at odds for some time, with Prime Minister K Chandrasekhar Rao skipping several meetings chaired by Prime Minister Narendra Modi.
31 Jan 2023, 08:22:32 AM ACTUAL
AAP to Boycott the President's Address Today
Aam Aadmi Party (AAP) sources told ANI that the party would boycott the President's address today. "The MPs of the party will stay away from the parliament building at the time of the address," they said.
31 Jan 2023, 08:20:54 AM ACTUAL
The opposition raises the Adani issue at all party meetings
Briefing the media after an all-party meeting convened by the government ahead of the budget session, Minister for Parliamentary Affairs Pralhad Joshi said the government is ready to discuss any issues in parliament according to the rules. "We seek the cooperation of the opposition" to run the House smoothly.
At the meeting, Sanjay Singh of Aam Aadmi Party, Manoj Jha of RJD, DMK, left parties and others raised the Adani issue and sought discussion on it in Parliament during the session.
The US-based short seller Hindenburg Research has accused the Adani group of misconduct such as stock manipulation. The company dismissed the allegations as "nothing but lies".
31 Jan 2023, 08:10:54 AM ACTUAL
cea dr V. Anantha Nageswaran will speak at a press conference at 2:00 p.m
cea dr V. Anantha Nageswaran will address a press conference on January 31, 2023 at 14:00 in New Delhi after FM Nirmala Sitharaman's presentation of Economic Survey 2022-23 in Parliament.
To watch the conference LIVE,Click here
31 Jan 2023, 07:56:56 AM ACTUAL
Economic Survey: History and Significance
The first business survey originated in 1950-51 when it was formerly part of the household records. readhere
31 Jan 2023, 07:37:56 AM IST
How to watch the Business Survey LIVE
The live stream of the economic survey can be followed on the government's official channels. PIB India will also be livestreaming the release.
31 Jan 2023, 07:33:55 AM IST
The preparation
The Economic Report is prepared by the Economics Division of the Treasury Department's Economics Department, under the overall direction of the Chief Economic Adviser (CEA).
31 Jan 2023, 07:26:03 AM ACTUAL
What is an economic survey?
The Economic Report is an annual report of the economy, presented a day before the budget, examining the performance of each sector and then proposing future steps. The economic report document will provide insights into the economic situation and various indicators in the current fiscal year 2022-23 and the outlook for the following year. It is prepared by the Economics Department of the Economics Department of the Treasury and formulated under the supervision of Chief Economic Advisor V. Anantha Nageswaran.
31 Jan 2023, 07:21:36 AM ACTUAL
Economic Survey 2023-24
The economic report for 2023-24 will be released on Tuesday 31st January. He will be presented by Finance Minister Nirmala Sitharaman in Parliament during the budget session.
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FAQs
What is the Global Risks Report 2022? ›
The Global Risks Report 2022, published by the World Economic Forum in collaboration with Marsh McLennan, examines how global divergence across multiple domains in the post-COVID-19 recovery threatens to widen disparities and aggravate societal fractures.
What are the 2023 global risks? ›2023 Global Risks Report
Financial pressures, chronic healthcare capacity issues, and intensifying climate conditions are the biggest threats to human health. Businesses should expect to evaluate their ESG plans, risk mitigation strategies, and benefit schemes to support workers.
- Failure to mitigate climate change.
- Failure of climate change adaptation.
- Natural disasters and extreme weather events.
- Biodiversity loss and ecosystem collapse.
- Large-scale involuntary migration.
- Natural resource crises.
- Erosion of social cohesion and polarisation.
Our Future Risks Report is a survey of 4,500 risk management experts from 58 countries and a sample of 20,000 people from 15 countries across the globe. For nearly a decade, the report has tracked major changes in our world to help us anticipate future threats.
Who is No 1 in World Risk Index 2022? ›1. The World Risk Index 2022 (released September) ranked the Philippines first in the world in risk among 193 countries worldwide (representing 99 percent of global population). India and Indonesia ranked second and third, followed by Colombia and Mexico.
Who is top rank in Global Risk Report 2022? ›Built on the World Risk Index Data, the 2022 report ranks 193 countries on their risk of experiencing disaster or vulnerability to extreme natural events such as earthquakes, tsunamis, floods, and drought. According to this year's findings, the Philippines, India, and Indonesia have the highest overall disaster risk.
What is the biggest risk of the global economy? ›Inflation
Rising inflation has impacted the cost of living, the cost of doing business, borrowing money, and every other facet of the economy. Over 35 percent of the respondents cited inflation as one of the biggest potential risks to global economic growth.
The most-cited two-year term risks included natural disasters, geoeconomic confrontation, the erosion of social cohesion, widespread cybercrime, large-scale involuntary migration and natural resource crises, alongside climate change.
What are the top business risks for 2022? ›A new survey on business leaders across U.S. industries places cybersecurity and talent acquisition as the two biggest risks for business in 2022.
Which of the following risks are identified in the 2022 WEF Global risks Report? ›This report finds that respondents to the GRPS perceive societal risks—in the form of “social cohesion erosion”, “livelihood crises” and “mental health deterioration”—as those that have worsened the most since the pandemic began.
What are emerging risks in insurance? ›
Emerging Risks are new or future risks whose hazard potential is not yet reliably known and whose implications are difficult to assess. These risks may evolve over time from being weak signals to clear tendencies with a high potential for danger.
Will there be a financial crisis in 2023? ›The labor market is cooling down, putting less pressure on wages, while housing prices and new construction have both declined. Unfortunately, this slowdown in economic activity will likely come with a cost: According to Bloomberg's December 2022 survey of economists, there is a 70% chance of a recession in 2023.
What are the top financial risks for 2023? ›Inflation and recession, disgruntled workers, higher borrowing costs, and more — risks lurk everywhere in 2023.
What will happen to the economy in 2024? ›Global economy: slow growth ahead
With significant difference across countries, global growth is likely to slow down to +1.4% in 2023 and recover modestly to +2.8% in 2024. Advanced economies are heading toward a mild recession of -0.1% in 2023, followed by a rebound to below-potential growth of +1.5% in 2024.
- Biodiversity loss.
- Social cohesion erosion.
- Livelihood crises.
- Infectious diseases.
- Human environmental damage.
- Natural resource crises.
- Debt crises.
- Geoeconomic confrontation.
The Global Risks Report is an annual study published by the World Economic Forum ahead of the Forum's Annual Meeting in Davos, Switzerland. Based on the work of the Global Risk Network, the report describes changes occurring in the global risks landscape from year to year.
What is happening to the world right now 2022? ›Rising sea levels, changing seasons and the threat of new disease outbreaks are affecting both rural and urban communities and increase tensions as water supplies shrink, food prices spikes and people abandon their homes to find security elsewhere.
What is the economic risk index for 2022? ›Economic risk increased to 43.1 in Q3 2022 as the global economy is battling high inflation. There has been an increase in risk score in macroeconomic, political, and environmental parameters, whereas legal and social parameters recorded a decline in Q3 2022.