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Economic Survey 2023 LIVE Updates: Finance Minister Nirmala Sitharaman set to present

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Economic Survey 2023 Live: The government’s economic research department will also likely point to improvement in the financial health of the Indian banking sector as a factor aiding economic growth

Economic Survey 2023 Live: The survey will likely point to an improvement in employment conditions in India due to stronger consumption but add that a further pick-up in private investment is essential for job creation. The government’s increased spending on infrastructure in the last two years should help, the document will argue.

Economic Survey 2023 Live: Even growth of 6.5% could keep India among the fastest growing economies in the world, despite losing pace from an estimated 7% in the fiscal year that ends on March 31. It has grown at 8.7% in the previous year mainly due to pandemic-related distortions.

Economic Survey 2023 Live: The survey will likely caution that pressure on the Indian rupee could continue due to the tightening of monetary policy, the source said. India’s current account deficit (CAD) may also remain elevated as imports could remain high due to a strong local economy while exports ease due to weakness in the global economy, the survey will likely caution.

Economic Survey 2023 Live: Reuters says the survey will likely take note of above-target inflation in India, estimated by the central bank at 6.8% in 2022/23, but is likely to argue that the pace of price increases is not high enough to deter private consumption or low enough to weaken investment.

Economic Survey 2023 Live: India’s economy has rebounded since the COVID-19 pandemic, but the Russia-Ukraine conflict has triggered inflationary pressures and prompted central banks, including India’s, to reverse the ultra-loose monetary policy they adopted during the pandemic

Economic Survey 2023 Live: Growth in the financial year beginning April 1 will remain strong relative to most global economies, led by sustained private consumption, a pick-up in lending by banks and improved capital spending by corporations, the survey will likely say, reports Reuters

Economic Survey 2023 Live: What happened last year?

  • Last year’s survey had predicted India’s economy to grow at 8-8.5%
  • It also said that India is well placed to meet the future challenges on the back of widespread vaccine coverage, supply-side reforms and easing of regulations.

Economic Survey 2023 Live: According to a Reuters report, the Eco Survey is going to peg India’s growth at 6-6.8% for 2023-24, the slowest in three years, with nominal GDP estimated at 11%

Economic Survey 2023 Live: With the Union Budget for 2023-24 set to be presented tomorrow, the Eco Survey lays the foundation for the Finance Minister’s presentation on February 1

Economic Survey 2023 Live: Formulated under the Chief Economic Advisor, V Anantha Nageswaran, the survey is set to provide insights into the country’s economic situation over the past year

Economic Survey 2023 Live: Finance Minister Nirmala Sitharaman is set to release the document during the Budget Session of Parliament today

Economic Survey 2023 Live: Hello! Welcome to ET’s coverage of the release of the Economic Survey for 2022-23

Read More: Economic Survey 2023 LIVE Updates: Finance Minister Nirmala Sitharaman set to present

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