Economic Survey 2019

Friday, May 17, 2024 | Last Update : 04:38 AM IST

Finance Minister Nirmala Sitharaman with her team before presenting the budget. (Photo: Twitter | ANI)

Budget 2019: Not Big Bang, but comprehensive focus on corporates to rural India

Finance Minister Niramala Sitharaman's maiden budget received mixed response from critics and industry experts.

05 Jul 2019 8:46 PM

Terming the hike in petrol-diesel prices as 'Election Prize', Mamata said, 'As a result, price hikes will hit from transport to market to kitchens. Commoners are suffering and suffering...This is Election Prize!!' (Photo: File)

West Bengal CM Mamata Banerjee terms Union Budget as 'completely visionless'

FM Sitharaman said an additional excise duty and road and infrastructure cess of one rupee will be imposed on petrol and diesel.

05 Jul 2019 7:44 PM

'There is a need to introduce bank reforms rather than pumping in more money in the banking sector. There was no need for high taxes on petrol and diesel. Therefore, there would be a hike in inflation as well,' Badal said. (Photo: ANI)

Budget 2019 -- long on talk, short on delivery: Punjab Finance Minister Badal

He said that Rs 1 lakh crore is to be invested in infrastructure sector, but there was no mention about any master plan to be implemented.

05 Jul 2019 6:43 PM

Diesel is priced at Rs 64.33 a litre in Delhi and Rs 67.40 per litre in Mumbai. (Photo: Bunny smith)

Budget 2019: Petrol price to rise by Rs 2.5, diesel by Rs 2.3 after FM raises tax

A litre of petrol costs Rs 70.51 in Delhi and Rs 76.15 in Mumbai.

05 Jul 2019 5:08 PM

The NPS is a voluntary, defined contribution retirement savings scheme for government employees as well as for those working in the private sector.

Budget 2019: Govt proposes to separate NPS Trust from PFRDA

The proposal to separate the two job roles was under consideration for last few years.

05 Jul 2019 4:49 PM

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman presents Union Budget 2019-20. (Photo: File)

Budget 2019: Highlights from FM Nirmala Sitharaman's maiden speech

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman made her maiden Budget Speech and presented it in Lok Sabha.

05 Jul 2019 3:43 PM

The collection from the sector in the last fiscal fell short of Rs 9,416.42 crore at Rs 39,245 crore from the budgeted provision of Rs 48,661.42 crore.

Budget 2019: Govt enhances revenue collection from telecom sector to Rs 50,519 cr

Receipts from the telecom sector mainly relate to the licence fees from operators and spectrum usage charges.

05 Jul 2019 3:43 PM

Budget 2019: What is getting more expensive, what's cheaper?

A large number of imported items like books, plastic items and imported auto parts are set to be costlier.

05 Jul 2019 3:25 PM

Govt will provide a one-time partial credit guarantee to PSBs to buy high-rated pooled assets of financially sound NBFCs.

Budget 2019: Govt to provide credit guarantee to PSBs to buy NBFC assets

The NBFC sector is currently undergoing a liquidity hurdle with a spate of defaults of companies.

05 Jul 2019 3:06 PM

Direct tax revenue has significantly increased by over 78 per cent from Rs 6.38 lakh crore in the financial year 2013-14 to around Rs 11.37 lakh crore in the financial year 2018-19.

Budget 2019: High-end income group people need to pay 3 pc to 7 pc more annually

Budget 2019 proposes to make return filing compulsory for persons, who have deposited more than Rs 1 cr in a current account in a year.

05 Jul 2019 2:57 PM

FM proposed additional deduction of Rs 1.5 lakh for interest paid on loans borrowed up to March 31, 2020. (Photo: File)

Budget 2019: What does this budget hold for homebuyers?

FM said said the Centre would take substantial steps to promote rental housing for which government would make amendments in rental laws.

05 Jul 2019 2:48 PM

Sitharaman said surcharges on individuals having taxable income of Rs 2 crore to Rs 5 crore; and Rs 5 crore and more have been raised.

Budget 2019: Cess on petrol, diesel hiked by Re 1 per litre

Finance minister also announced TDS of 2 per cent on cash withdrawal of more than Rs 1 crore from a bank account.

05 Jul 2019 2:26 PM

While presenting interim Budget 2019-20 in February, the government had pegged fiscal deficit target at 3.4 per cent.

Budget 2019: Govt lower fiscal deficit target to 3.3 per cent for FY20

The fiscal deficit this year is 3.3 per cent brought down from 3.4 per cent.

05 Jul 2019 2:12 PM

Union Minister also said that faceless and anonymous assessment system for income tax will be rolled out in phases this year.

Budget 2019-20: Those without PAN can now file returns using Aadhaar

On Thursday, the Lok Sabha passed by voice vote the Aadhaar and Other Laws (Amendment) Bill, 2019.

05 Jul 2019 2:02 PM

The budget speech didn’t find the mention of Antrix Corporation being replaced by NSIL. (Photo: ANI)

Budget 2019: Antrix Corp likely to be replaced by NSIL

NSIL would be the financial arm of the state-run Indian Space Research Organisation.

05 Jul 2019 1:53 PM

Hailing the contribution of women in the Indian economy, Finance Minister Nirmala Sitharaman on Friday termed their role in the rural sector a 'sweet story'. (Photo: File)

Union Budget 2019: FM draws attention to women of India with 'Naari tu Narayaani'

Sitharaman announced that a woman in every SHG will be made eligible for loan upto Rs 1 lakh under the government's Mudra scheme.

05 Jul 2019 1:36 PM

The corporate tax rate is 30 per cent at the moment.

Budget 2019: Firms with turnover of Rs 400 cr to pay lower 25 pc corporate tax

Only 0.7 per cent of the companies will now remain outside the 25 per cent corporate tax bracket, says Sitharaman.

05 Jul 2019 1:26 PM

The Finance Minister also announced one-time six-month partial credit guarantee for the PSBs.

Budget2019: Sitharaman earmarks Rs 70,000 crore for public sector banks

Public sector banks will use technology for enabling the customer of one PSB to access service across all PSBs as well.

05 Jul 2019 1:12 PM

Finance Minister Nirmala Sitharaman (Photo: ANI)

Budget 2019: Government sets the disinvestment target at Rs 1.05 lakh crore

Strategic disinvestment of select public sector undertakings will remain a priority area, FM said.

05 Jul 2019 1:12 PM

pension benefit will be extended to around three crore retail traders and shopkeepers with an annual turnover less than 1.5 crores.

Budget 2019: Pension benefit to be extended to around 3 cr retail traders

Rs 350 crore allocated for 2 per cent interest subvention for all GST-registered MSMEs on fresh or incremental loans.

05 Jul 2019 1:07 PM

In the past one year, NPAs worth Rs 1 lakh crore has been recovered, Sitharaman said.

Budget 2019: NPAs worth Rs 4 lakh crore recovered in past four years

Government-owned and private banks besides non-banking financial companies have been saddled with huge NPAs.

05 Jul 2019 12:59 PM

The government proposes 'Study in India' to bring in foreign students to pursue education here. (Photo: ANI)

Budget 2019: Government to improve youth skills in AI, robotics

Training of workforce with relevant skills will help address the severe skill shortage technology and IT companies are facing right now.

05 Jul 2019 12:55 PM

Finance Minister also announced that pension benefits will be offered to three crore shop owners with annual turnovers less than Rs 1.5 crore.

Budget 2019: FM announces 2 pc interest subvention for GST-registered MSMEs

Sitharaman proposed the setting up of a payments platform for MSMEs for payment of bills.

05 Jul 2019 12:53 PM

BharatNet is targeting internet connectivity in local bodies in every panchayat in the country.

Budget 2019: Internet connectivity under BharatNet to be fast-tracked, says FM

The government aims to connect all 2.5 lakh village panchayats with high speed broadband by March 2020.

05 Jul 2019 12:47 PM

Time for completion of houses under PMAY reduced from 314 days in 2015-16 to 114 days in 2017-18.

Budget 2019: 1.95 cr houses to be provided in second phase of PMAY-Gramin

Government keeps Gaon, Garib, and Kisan at the centre of everything we do, of every programme by 2022, says Sitharaman.

05 Jul 2019 12:43 PM

Finance Minister Nirmala Sitharaman Friday said corporate India is a job creator as well as wealth creator and called for public private partnership to develop rail infrastructure. (Photo: File)

Union Budget 2019: 'PPP to be unleashed to develop rail infrastructure,' says FM

Finance Minister said as the world's third largest aviation market, time is ripe to enter aircraft financing and leasing from Indian shores.

05 Jul 2019 12:12 PM

Budget 2019: Govt contemplating higher FDI in aviation, media, says Sitharaman

Global FDI flow slipped by 13 per cent in 2018 to USD 1.3 trillion, from 1.5 in the previous year.

05 Jul 2019 12:06 PM

Proud! Nirmala Sitharaman's parents attend her first budget speech

Savitri and Narayanan Sitharaman arrived in a separate car in Parliament.

05 Jul 2019 12:03 PM

The Parliament on Friday echoed with a couplet and a quote from Kautilya's 'arthshastra' when Finance Minister Nirmala Sitharaman presented her maiden Budget in the Lok Sabha. (Photo: File)

Union Budget 2019: Parliament echoes with urdu couplet, quote from arthshastra

Breaking the tradition of carrying briefcase to the Parliament for presenting Budget, she posed outside the House with ledger book instead.

05 Jul 2019 12:01 PM

Govt given the expenditure of Rs 1.4 to 1.6 lakh crore per year for railway Infrastructure. (Photo: PTI | Representational)

Budget 2019: Rail infra requires Rs 50 lakh cr till 2030, says Sitharaman

Udaan scheme will improve India's infrastructure, enable connectivity, and bridge the rural and urban divide,

05 Jul 2019 12:00 PM

'We will work to make a platform for listing social enterprises and voluntary organisations to raise capital as equity, debt or units like mutual funds,' said Sitharaman. (Photo: ANI)

Union Budget 2019: India to strengthen corporate bond market, says Sitharaman

There is also a proposal to increase minimum public shareholding in companies from 25 per cent to 35 per cent.

05 Jul 2019 11:55 AM

Sitharaman will be presenting her maiden budget of Friday. (Photo: ANI | Twitter)

Budget 2019: Breaking tradition, Sitharaman leaves office without briefcase

For years, finance minister and their deep maroon or brown briefcases holding budget were a common sight.

05 Jul 2019 10:13 AM

The Budget to be presented on Friday is expected to boost spending at the cost of short-term slippage in fiscal deficit targets as she lays down the Modi 2.0 government’s road map for the economy and the nation in the next five years. (Photo: File)

Budget 2019: What to expect from Sitharaman's first Budget

In an economy that is losing growth momentum, all this bring the tightrope walk of balancing growth with fiscal prudence to the fore.

05 Jul 2019 8:57 AM

Finance Minister Nirmala Sitharaman presented Union Budget for Modi 2.0 government. (Photo: ANI | Twitter)

Budget 2019: Some relief for tax payers, focus 'gaon, gareeb aur kisan'

Usually the duration of the presentation ranges from 90 to 120 minutes.

05 Jul 2019 8:51 AM

Chief economic adviser K. Subramanium and principal economic adviser Sanjiv Sanyal (standing) at the release of Economic Survey in New Delhi on Thursday. (Photo: G.N. Jha)

Survey predicts 7 per cent growth; focus on jobs, investment

Outlining the future roadmap, the Economic Survey was tabled by finance minister Nirmala Sitharaman in the Rajya Sabha on Thursday.

05 Jul 2019 1:20 AM

Finance Minister Nirmala Sitharaman (Photo: PTI)

Survey shows path to dawn of growth era?

The survey’s stress on strengthening MSMEs is not misplaced and is vital as they are the job creators.

05 Jul 2019 12:00 AM

Former Finance Minister Arun Jaitley. (Photo: File)

Economic Survey: 'India leaps into era of high economic policy certainty,' says Ex FM

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman earlier today tabled the Economic Survey 2018-19 in the Parliament.

04 Jul 2019 8:25 PM

The slowdown in the world economy and EMDEs in 2018 followed the escalation of US-China trade tensions.

Economic Survey: Indian economy grows to USD 2.75 trn despite slowing global economy

India continued to remain the fastest-growing major economy in the world in 2018-19.

04 Jul 2019 5:12 PM

The government resorts to market borrowings through government securities and treasury bonds to meet the gap between expenditure and revenue, popularly known as fiscal deficit. (Photo: ANI)

Economic Survey: ‘Sticking to fiscal deficit target important,’ says CEA Subramanian

‘It is important to stick to fiscal deficit path, otherwise there is risk of crowding out of investment,’ Subramanian said.

04 Jul 2019 4:24 PM

Debroy also said there is a continuity between the policies from 2014 to 2019 and the expected policies from 2019 to 2024.

Economic Survey: A blue print for growth and jobs over next 5 years, says Debroy

EAC-PM welcomes the emphasis of the Survey on fiscal consolidation, fiscal discipline and investments.

04 Jul 2019 4:20 PM

According to the economic survey, India's economic growth, which is expected to rebound from a five-year low to 7 per cent this year, now needs to shift gears to accelerate and sustain a higher growth rate to become a USD 5-trillion economy by 2024-25. (Photo: ANI)

Economic Survey: Chidambaram says govt appears to be pessimistic about economy

‘There are no growth projections sector wise,’ P Chidambaram said.

04 Jul 2019 4:12 PM

In order to create a USD 10 trillion economy by 2032, India needs a robust and resilient infrastructure.

Economic Survey: India must spend USD 200 bn on infra annually

As the country has only been able to put USD 100 to 110 billion annually into infrastructure development.

04 Jul 2019 4:11 PM

To reap benefits of demographic dividend, Centre is committed to improving outcomes in education and skilling, and to provide employment and affordable healthcare to all. (Photo: Twitter | @PIB_India)

Economic Survey: India is committed to achieving SDGs, invest in human capital

‘India is committed to achieving these SDGs and a strong social infrastructure is key to achieve them,’ it said.

04 Jul 2019 3:57 PM

The ecosystem for insolvency and bankruptcy is getting systematically built out with recovery and resolution of significant amount of distressed assets.

Economic Survey: Debt recovery strengthened, claims of Rs 1.73 lakh cr settled

The Survey said that IBC has initiated a cultural shift in the dynamics between lender and borrower, promoter and creditor.

04 Jul 2019 3:31 PM

conomic Survey for 2018-19, tabled in Parliament by Finance Minister Nirmala Sitharaman said on Thursday. (Photo: File)

Economic Survey: Retirement age set to rise due to higher life expectancy

The survey pointed out that this will also help plan in advance for pensions and other retirement provisions.

04 Jul 2019 3:27 PM

IMD has predicted the rainfall over the country as a whole is likely to be near normal this year.

Economic Survey: Govt calls for new policies to improve water efficiency in farm sector

The agriculture sector had investment rate much less than half of that of services and industry sectors.

04 Jul 2019 3:23 PM

Total liabilities of the central government at end-March 2019 stood at Rs 84.7 lakh crore of which 90 per cent was public debt. (Photo: Twiter | @PIB_India)

Economic Survey: Centre and states on the path of fiscal consolidation

‘Despite several headwinds, Indian economy is expected to grow at 6.8pc in 2018-19 while maintaining macro-economic stability,’ it said.

04 Jul 2019 3:16 PM

The Government had budgeted to collect Rs 11.50 lakh crore from direct taxes and Rs 7.43 lakh crore from GST in 2018-19.

Economic Survey: GDP ratio dips to 10.9 pc on shortfall in indirect tax revenues

In 2018-19, direct taxes grew by 13.4 per cent owing to improved performance of corporate tax.

04 Jul 2019 3:11 PM

The Economic Survey 2018-19 also says that being a cost-effective long distant transport mode, Railways has witnessed commendable progress. (Photo: ANI)

Economic Survey: Train collision incidents came down to zero in 2018-19

The report also says that the incidents of derailment have decreased from 78 in 2016-17 to 46 in the year 2018-19.

04 Jul 2019 3:08 PM

The CAD, which is the net of foreign exchange inflows and outflows, had stood at USD 48.7 billion in 2017-18.

Economic Survey: Govt may further ease FDI norms to bridge current account deficit

The deficit increased to USD 57.2 billion or 2.1 per cent of gross domestic product (GDP) in 2018-19.

04 Jul 2019 3:02 PM

Along with a link to the document on the Finance Ministry’s website, PM Modi tweeted: 'The #EconomicSurvey2019 outlines a vision to achieve a USD 5 Trillion economy. It also depicts the gains from advancement in the social sector, adoption of technology and energy security. Do read!' (Photo: File)

Economic Survey 2019 outlines vision to achieve USD 5 trillion economy: PM

The tweet came hours after the Economic Survey was presented to Parliament by Finance Minister Nirmala Sitharaman.

04 Jul 2019 2:52 PM

Government is providing foodgrains at a highly subsidised (CIP) rate of Rs 1-3 per kg to more than 80 crore poor people in the country. (Photo: PTI)

Economic Survey: Rationalisation of burgeoning food subsidy bill

Govt had pegged food subsidy bill at Rs 1,84,220 crore for 2019-20 as against Rs 1,71,298 crore last year.

04 Jul 2019 2:16 PM

The survey pointed out that economic policy uncertainty peaked in India during late 2011 and early 2012; and has since been declining with intermittent increases in between. (Photo: File)

Economic Survey: Top policymakers must ensure predictable policy actions

The economic policy uncertainty in the country moved closely in tandem with global uncertainty until 2014.

04 Jul 2019 2:07 PM

The survey said a decline in rural inflation is steeper than that of urban inflation since July 2018, resulting in a decline in headline inflation. (Photo: Twitter | @PIB_India)

Economic Survey: Inflation at low levels in past five years

In April 2019, it stood at 2.9 per cent compared to 4.6 per cent in April 2018.

04 Jul 2019 1:51 PM

It noted that India, through unique identification programme Aadhaar, has been at the forefront of data and technology revolution which is unfolding. (Photo: ANI)

Economic Survey: Data must be 'of the people, by the people, for the people'

Economic Survey for 2018-19 asserted that benefits of creating data as public good can be generated within legal framework of data privacy.

04 Jul 2019 1:40 PM

Former RBI Governor Urjit Patel. (Photo: PTI)

A mess: Patel admits RBI was slow to take timely measures

Patel said an asset quality review for the NBFCs is ‘inevitable’ given their interconnectedness in financial system.

04 Jul 2019 1:37 PM

General government fiscal deficit seen at 5.8 pc in 2018-19, against 6.4 per cent last fiscal.

Economic Survey 2018-19 highlights

India continues to remain the fastest-growing major economy in the world in 2018-19.

04 Jul 2019 1:30 PM

PSBs witnessed improvement during 2018-19 and the gross NPA ratio decreased from 11.5 per cent to 10.1 per cent.

Economic Survey: Banking sector performance improved due to fall in bad loans in 2019

The performance of the banking system has improved as non-performing asset (NPA) ratios declined and credit growth accelerated.

04 Jul 2019 1:06 PM

Economic Survey: GDP growth projected at 7 per cent for 2019-20

The growth projection is higher than a five-year low economic growth of 6.8 per cent for the year ended March 31.

04 Jul 2019 11:47 AM

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