Live Updates: India needs to guard against impact of financialisation in policy making: Eco Survey
31 Jan 2025 1:49 PM IST31 Jan 2025 1:49 PM IST
Union Finance Minister Nirmala Sitharaman (File Photo)
Ahead of Union Budget 2025, Finance Minister Nirmala Sitharaman tabled the Economic Survey 2024-25 in Lok Sabha.
The Economic Survey, tabled every year a day ahead of the Union Budget, gives a broad roundup on macroeconomic performance of the ongoing fiscal and a glimpse of how the next fiscal is likely to pan out.
Here are highlights from the FM's speech:
Live Updates
- 31 Jan 2025 2:35 PM IST
India’s external sector continued to display resilience amidst global headwinds of economic and trade policy uncertainties. Total exports (merchandise and services) have registered a steady growth in the first nine months of FY25, reaching USD 602.6 billion (6 per cent). Growth in services and goods exports, excluding petroleum and gems and jewellery, was 10.4 per cent.
- 31 Jan 2025 2:33 PM IST
The Indian financial sector is currently at a pivotal moment. The traditional dominance of banks in providing credit is beginning to decline, and other participants and products in the financial sector are increasingly filling this role. This shift is a long awaited and positive development for a country that aims to become a developed nation by 2047.
- 31 Jan 2025 2:32 PM IST
India's pension sector has grown significantly since the introduction of the National Pension System (NPS) and Atal Pension Yojana (APY). As of September 2024, the total number of subscribers reached 783.4 lakh, showing a YoY growth of 16 per cent from 675.2 lakh in September 2023. The number of APY subscribers, which includes its earlier version, NPS Lite, rose from 538.2 lakh in March 2023 to 629.1 lakh in September 2024.
- 31 Jan 2025 2:27 PM IST
Against the backdrop of the recent monetary policy tightening cycle in India, bank deposits continue to exhibit double-digit growth. However, their profile has gradually shifted towards schemes offering higher returns. Growth in term deposits continues to outpace the current and savings account deposit growth
- 31 Jan 2025 2:22 PM IST
India’s external sector displayed mixed trends, primarily due to volatile global conditions. A decline in commodity prices affected India’s merchandise exports through the petroleum goods channel. Data on merchandise trade shows that India’s merchandise exports grew by 1.6 per cent YoY in April – December 2024.
( Source : Deccan Chronicle )
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