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IndiaTV Business: Google News Feed: Digest for January 08, 2024

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On the onset of the Supreme Court ruling that there was no ground to order an investigation by a SIT or other probe agency into allegations against the group, shares of Adani group of companies jumped in morning trade on Wednesday. The Supreme Court on Wednesday said capital market regulator SEBI must conclude its probe within three months.
Benchmark stock market indices experienced a downturn for the third consecutive session on Wednesday, primarily driven by a decline in information technology shares amidst a broader global market slide. The S&P BSE Sensex witnessed a drop of 535.88 points, settling at 71,356.60, while the NSE Nifty50 slid by 148.45 points, concluding at 21,517.35. Today's trading session saw weakness across broader market indices.
Petrol, diesel price cut: Amid reports that petrol, diesel prices may be reduced in the coming days, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said that global oil market is in a "highly turbulent" situation and it has to stabilise before any cut.
After a dull of three consecutive days this year, Equity benchmark indices opened in positive on Thursday. In the early trade, the 30-share BSE Sensex jumped 351.88 points to 71,708.48. Meanwhile, the Nifty also gained 99 points to 21,616.35 points. 
New Delhi: IndiGo on Thursday said it has removed fuel charge on tickets, nearly three months after introducing the levy in response to a spike in jet fuel prices. The fuel charge was applicable on the airline's domestic and international routes.
Anticipating favourable conditions and increased coverage, a senior official from the food ministry said that wheat production is projected to reach a new milestone of 114 million tonnes in the current 2023-24 crop year. The final phase of sowing for wheat, the primary rabi crop, is currently underway and is expected to continue until the following week. According to official data, wheat had been planted in 320.54 lakh hectares till the last week. In the preceding 2022-23 crop year (July-June), wheat production achieved a record 110.55 million tonnes, surpassing 107.7 million tonnes from the previous year.

Sensex surges almost 500 points, Nifty ends above 21,600

Thursday 04 January 2024 10:39 AM UTC+00
In a bid to recover from the week's previous losses, the two primary equity benchmarks, Sensex and Nifty, closed Thursday's trading session in positive territory. The S&P BSE Sensex saw a robust gain of nearly 500 points, concluding at 71,847.57, while the NSE Nifty50 surged by almost 150 points, settling at 21,658.60. Among the 30-share Sensex components, Bajaj Finance, NTPC, IndusInd Bank, Axis Bank, and Nestle emerged as the top gainers. Conversely, HCL Tech, M&M, Tata Steel, Hindustan Unilever, and UltraTech Cement faced losses during the day.
The Directorate General of Civil Aviation (DGCA) announced a notable upswing in domestic airline fleet expansion in 2023, with the induction of 133 planes—a remarkable 51% surge compared to the previous year. Among these, 21 aircraft were acquired through wet lease arrangements.
Stock markets update: On the second day in a row, the equity benchmark indices opened in positive on Friday. In the early trade, the 30-share BSE Sensex jumped 308.91 points to 72,156.48. Meanwhile, the Nifty also gained 91 points to 21,749.60 points. 
The government on Friday estimated that the Indian economy will grow by 7.3 per cent in current fiscal against 7.2 per cent expansion in Financial Year 2022-23.
On the onset of the Supreme Court ruling that there was no ground to order an investigation by a SIT or other probe agency into allegations against the group, shares of Adani group of companies jumped in morning trade on Wednesday. The Supreme Court on Wednesday said capital market regulator SEBI must conclude its probe within three months.
Benchmark stock market indices experienced a downturn for the third consecutive session on Wednesday, primarily driven by a decline in information technology shares amidst a broader global market slide. The S&P BSE Sensex witnessed a drop of 535.88 points, settling at 71,356.60, while the NSE Nifty50 slid by 148.45 points, concluding at 21,517.35. Today's trading session saw weakness across broader market indices.
Petrol, diesel price cut: Amid reports that petrol, diesel prices may be reduced in the coming days, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said that global oil market is in a "highly turbulent" situation and it has to stabilise before any cut.
After a dull of three consecutive days this year, Equity benchmark indices opened in positive on Thursday. In the early trade, the 30-share BSE Sensex jumped 351.88 points to 71,708.48. Meanwhile, the Nifty also gained 99 points to 21,616.35 points. 
New Delhi: IndiGo on Thursday said it has removed fuel charge on tickets, nearly three months after introducing the levy in response to a spike in jet fuel prices. The fuel charge was applicable on the airline's domestic and international routes.
Anticipating favourable conditions and increased coverage, a senior official from the food ministry said that wheat production is projected to reach a new milestone of 114 million tonnes in the current 2023-24 crop year. The final phase of sowing for wheat, the primary rabi crop, is currently underway and is expected to continue until the following week. According to official data, wheat had been planted in 320.54 lakh hectares till the last week. In the preceding 2022-23 crop year (July-June), wheat production achieved a record 110.55 million tonnes, surpassing 107.7 million tonnes from the previous year.

Sensex surges almost 500 points, Nifty ends above 21,600

Thursday 04 January 2024 10:39 AM UTC+00
In a bid to recover from the week's previous losses, the two primary equity benchmarks, Sensex and Nifty, closed Thursday's trading session in positive territory. The S&P BSE Sensex saw a robust gain of nearly 500 points, concluding at 71,847.57, while the NSE Nifty50 surged by almost 150 points, settling at 21,658.60. Among the 30-share Sensex components, Bajaj Finance, NTPC, IndusInd Bank, Axis Bank, and Nestle emerged as the top gainers. Conversely, HCL Tech, M&M, Tata Steel, Hindustan Unilever, and UltraTech Cement faced losses during the day.
The Directorate General of Civil Aviation (DGCA) announced a notable upswing in domestic airline fleet expansion in 2023, with the induction of 133 planes—a remarkable 51% surge compared to the previous year. Among these, 21 aircraft were acquired through wet lease arrangements.
Stock markets update: On the second day in a row, the equity benchmark indices opened in positive on Friday. In the early trade, the 30-share BSE Sensex jumped 308.91 points to 72,156.48. Meanwhile, the Nifty also gained 91 points to 21,749.60 points. 
The government on Friday estimated that the Indian economy will grow by 7.3 per cent in current fiscal against 7.2 per cent expansion in Financial Year 2022-23.
On the onset of the Supreme Court ruling that there was no ground to order an investigation by a SIT or other probe agency into allegations against the group, shares of Adani group of companies jumped in morning trade on Wednesday. The Supreme Court on Wednesday said capital market regulator SEBI must conclude its probe within three months.
Benchmark stock market indices experienced a downturn for the third consecutive session on Wednesday, primarily driven by a decline in information technology shares amidst a broader global market slide. The S&P BSE Sensex witnessed a drop of 535.88 points, settling at 71,356.60, while the NSE Nifty50 slid by 148.45 points, concluding at 21,517.35. Today's trading session saw weakness across broader market indices.
Petrol, diesel price cut: Amid reports that petrol, diesel prices may be reduced in the coming days, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said that global oil market is in a "highly turbulent" situation and it has to stabilise before any cut.
After a dull of three consecutive days this year, Equity benchmark indices opened in positive on Thursday. In the early trade, the 30-share BSE Sensex jumped 351.88 points to 71,708.48. Meanwhile, the Nifty also gained 99 points to 21,616.35 points. 
New Delhi: IndiGo on Thursday said it has removed fuel charge on tickets, nearly three months after introducing the levy in response to a spike in jet fuel prices. The fuel charge was applicable on the airline's domestic and international routes.
Anticipating favourable conditions and increased coverage, a senior official from the food ministry said that wheat production is projected to reach a new milestone of 114 million tonnes in the current 2023-24 crop year. The final phase of sowing for wheat, the primary rabi crop, is currently underway and is expected to continue until the following week. According to official data, wheat had been planted in 320.54 lakh hectares till the last week. In the preceding 2022-23 crop year (July-June), wheat production achieved a record 110.55 million tonnes, surpassing 107.7 million tonnes from the previous year.

Sensex surges almost 500 points, Nifty ends above 21,600

Thursday 04 January 2024 10:39 AM UTC+00
In a bid to recover from the week's previous losses, the two primary equity benchmarks, Sensex and Nifty, closed Thursday's trading session in positive territory. The S&P BSE Sensex saw a robust gain of nearly 500 points, concluding at 71,847.57, while the NSE Nifty50 surged by almost 150 points, settling at 21,658.60. Among the 30-share Sensex components, Bajaj Finance, NTPC, IndusInd Bank, Axis Bank, and Nestle emerged as the top gainers. Conversely, HCL Tech, M&M, Tata Steel, Hindustan Unilever, and UltraTech Cement faced losses during the day.
The Directorate General of Civil Aviation (DGCA) announced a notable upswing in domestic airline fleet expansion in 2023, with the induction of 133 planes—a remarkable 51% surge compared to the previous year. Among these, 21 aircraft were acquired through wet lease arrangements.
Stock markets update: On the second day in a row, the equity benchmark indices opened in positive on Friday. In the early trade, the 30-share BSE Sensex jumped 308.91 points to 72,156.48. Meanwhile, the Nifty also gained 91 points to 21,749.60 points. 
The government on Friday estimated that the Indian economy will grow by 7.3 per cent in current fiscal against 7.2 per cent expansion in Financial Year 2022-23.
Benchmark stock market indices experienced a downturn for the third consecutive session on Wednesday, primarily driven by a decline in information technology shares amidst a broader global market slide. The S&P BSE Sensex witnessed a drop of 535.88 points, settling at 71,356.60, while the NSE Nifty50 slid by 148.45 points, concluding at 21,517.35. Today's trading session saw weakness across broader market indices.
Petrol, diesel price cut: Amid reports that petrol, diesel prices may be reduced in the coming days, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said that global oil market is in a "highly turbulent" situation and it has to stabilise before any cut.
After a dull of three consecutive days this year, Equity benchmark indices opened in positive on Thursday. In the early trade, the 30-share BSE Sensex jumped 351.88 points to 71,708.48. Meanwhile, the Nifty also gained 99 points to 21,616.35 points. 
New Delhi: IndiGo on Thursday said it has removed fuel charge on tickets, nearly three months after introducing the levy in response to a spike in jet fuel prices. The fuel charge was applicable on the airline's domestic and international routes.
Anticipating favourable conditions and increased coverage, a senior official from the food ministry said that wheat production is projected to reach a new milestone of 114 million tonnes in the current 2023-24 crop year. The final phase of sowing for wheat, the primary rabi crop, is currently underway and is expected to continue until the following week. According to official data, wheat had been planted in 320.54 lakh hectares till the last week. In the preceding 2022-23 crop year (July-June), wheat production achieved a record 110.55 million tonnes, surpassing 107.7 million tonnes from the previous year.

Sensex surges almost 500 points, Nifty ends above 21,600

Thursday 04 January 2024 10:39 AM UTC+00
In a bid to recover from the week's previous losses, the two primary equity benchmarks, Sensex and Nifty, closed Thursday's trading session in positive territory. The S&P BSE Sensex saw a robust gain of nearly 500 points, concluding at 71,847.57, while the NSE Nifty50 surged by almost 150 points, settling at 21,658.60. Among the 30-share Sensex components, Bajaj Finance, NTPC, IndusInd Bank, Axis Bank, and Nestle emerged as the top gainers. Conversely, HCL Tech, M&M, Tata Steel, Hindustan Unilever, and UltraTech Cement faced losses during the day.
The Directorate General of Civil Aviation (DGCA) announced a notable upswing in domestic airline fleet expansion in 2023, with the induction of 133 planes—a remarkable 51% surge compared to the previous year. Among these, 21 aircraft were acquired through wet lease arrangements.
Stock markets update: On the second day in a row, the equity benchmark indices opened in positive on Friday. In the early trade, the 30-share BSE Sensex jumped 308.91 points to 72,156.48. Meanwhile, the Nifty also gained 91 points to 21,749.60 points. 
The government on Friday estimated that the Indian economy will grow by 7.3 per cent in current fiscal against 7.2 per cent expansion in Financial Year 2022-23.
Budget 2024: Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget on February 1, 2024. Since 2024 is an election year, an interim budget will be presented instead of a full budget. Alongside the Union Budget, the Ministry of Finance (MoF) presents another crucial document to the Parliament a day before the budget presentation – the Economic Survey of India. The Economic Survey is an annual report that offers an overview of the Indian economy for the preceding year. Let's look into what the Economic Survey is and understand its significance.
Petrol, diesel price cut: Amid reports that petrol, diesel prices may be reduced in the coming days, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said that global oil market is in a "highly turbulent" situation and it has to stabilise before any cut.
After a dull of three consecutive days this year, Equity benchmark indices opened in positive on Thursday. In the early trade, the 30-share BSE Sensex jumped 351.88 points to 71,708.48. Meanwhile, the Nifty also gained 99 points to 21,616.35 points. 
New Delhi: IndiGo on Thursday said it has removed fuel charge on tickets, nearly three months after introducing the levy in response to a spike in jet fuel prices. The fuel charge was applicable on the airline's domestic and international routes.
Anticipating favourable conditions and increased coverage, a senior official from the food ministry said that wheat production is projected to reach a new milestone of 114 million tonnes in the current 2023-24 crop year. The final phase of sowing for wheat, the primary rabi crop, is currently underway and is expected to continue until the following week. According to official data, wheat had been planted in 320.54 lakh hectares till the last week. In the preceding 2022-23 crop year (July-June), wheat production achieved a record 110.55 million tonnes, surpassing 107.7 million tonnes from the previous year.

Sensex surges almost 500 points, Nifty ends above 21,600

Thursday 04 January 2024 10:39 AM UTC+00
In a bid to recover from the week's previous losses, the two primary equity benchmarks, Sensex and Nifty, closed Thursday's trading session in positive territory. The S&P BSE Sensex saw a robust gain of nearly 500 points, concluding at 71,847.57, while the NSE Nifty50 surged by almost 150 points, settling at 21,658.60. Among the 30-share Sensex components, Bajaj Finance, NTPC, IndusInd Bank, Axis Bank, and Nestle emerged as the top gainers. Conversely, HCL Tech, M&M, Tata Steel, Hindustan Unilever, and UltraTech Cement faced losses during the day.
The Directorate General of Civil Aviation (DGCA) announced a notable upswing in domestic airline fleet expansion in 2023, with the induction of 133 planes—a remarkable 51% surge compared to the previous year. Among these, 21 aircraft were acquired through wet lease arrangements.
Stock markets update: On the second day in a row, the equity benchmark indices opened in positive on Friday. In the early trade, the 30-share BSE Sensex jumped 308.91 points to 72,156.48. Meanwhile, the Nifty also gained 91 points to 21,749.60 points. 
The government on Friday estimated that the Indian economy will grow by 7.3 per cent in current fiscal against 7.2 per cent expansion in Financial Year 2022-23.
Budget 2024: Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget on February 1, 2024. Since 2024 is an election year, an interim budget will be presented instead of a full budget. Alongside the Union Budget, the Ministry of Finance (MoF) presents another crucial document to the Parliament a day before the budget presentation – the Economic Survey of India. The Economic Survey is an annual report that offers an overview of the Indian economy for the preceding year. Let's look into what the Economic Survey is and understand its significance.
In a significant development, the National Statistical Office (NSO) released its first advance estimates of national accounts on Friday, revealing discrepancies in the computation of India's Gross Domestic Product (GDP) for the fiscal year 2023–24. The reported discrepancies amount to Rs 2.59 lakh crore, a notable shift from (-) Rs 3.80 lakh crore in 2022–23 and (-) Rs 4.47 lakh crore in 2021–22, raising concerns among economic experts.
Petrol, diesel price cut: Amid reports that petrol, diesel prices may be reduced in the coming days, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said that global oil market is in a "highly turbulent" situation and it has to stabilise before any cut.
After a dull of three consecutive days this year, Equity benchmark indices opened in positive on Thursday. In the early trade, the 30-share BSE Sensex jumped 351.88 points to 71,708.48. Meanwhile, the Nifty also gained 99 points to 21,616.35 points. 
New Delhi: IndiGo on Thursday said it has removed fuel charge on tickets, nearly three months after introducing the levy in response to a spike in jet fuel prices. The fuel charge was applicable on the airline's domestic and international routes.
Anticipating favourable conditions and increased coverage, a senior official from the food ministry said that wheat production is projected to reach a new milestone of 114 million tonnes in the current 2023-24 crop year. The final phase of sowing for wheat, the primary rabi crop, is currently underway and is expected to continue until the following week. According to official data, wheat had been planted in 320.54 lakh hectares till the last week. In the preceding 2022-23 crop year (July-June), wheat production achieved a record 110.55 million tonnes, surpassing 107.7 million tonnes from the previous year.

Sensex surges almost 500 points, Nifty ends above 21,600

Thursday 04 January 2024 10:39 AM UTC+00
In a bid to recover from the week's previous losses, the two primary equity benchmarks, Sensex and Nifty, closed Thursday's trading session in positive territory. The S&P BSE Sensex saw a robust gain of nearly 500 points, concluding at 71,847.57, while the NSE Nifty50 surged by almost 150 points, settling at 21,658.60. Among the 30-share Sensex components, Bajaj Finance, NTPC, IndusInd Bank, Axis Bank, and Nestle emerged as the top gainers. Conversely, HCL Tech, M&M, Tata Steel, Hindustan Unilever, and UltraTech Cement faced losses during the day.
The Directorate General of Civil Aviation (DGCA) announced a notable upswing in domestic airline fleet expansion in 2023, with the induction of 133 planes—a remarkable 51% surge compared to the previous year. Among these, 21 aircraft were acquired through wet lease arrangements.
Stock markets update: On the second day in a row, the equity benchmark indices opened in positive on Friday. In the early trade, the 30-share BSE Sensex jumped 308.91 points to 72,156.48. Meanwhile, the Nifty also gained 91 points to 21,749.60 points. 
The government on Friday estimated that the Indian economy will grow by 7.3 per cent in current fiscal against 7.2 per cent expansion in Financial Year 2022-23.
Budget 2024: Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget on February 1, 2024. Since 2024 is an election year, an interim budget will be presented instead of a full budget. Alongside the Union Budget, the Ministry of Finance (MoF) presents another crucial document to the Parliament a day before the budget presentation – the Economic Survey of India. The Economic Survey is an annual report that offers an overview of the Indian economy for the preceding year. Let's look into what the Economic Survey is and understand its significance.
In a significant development, the National Statistical Office (NSO) released its first advance estimates of national accounts on Friday, revealing discrepancies in the computation of India's Gross Domestic Product (GDP) for the fiscal year 2023–24. The reported discrepancies amount to Rs 2.59 lakh crore, a notable shift from (-) Rs 3.80 lakh crore in 2022–23 and (-) Rs 4.47 lakh crore in 2021–22, raising concerns among economic experts.
After a dull of three consecutive days this year, Equity benchmark indices opened in positive on Thursday. In the early trade, the 30-share BSE Sensex jumped 351.88 points to 71,708.48. Meanwhile, the Nifty also gained 99 points to 21,616.35 points. 
New Delhi: IndiGo on Thursday said it has removed fuel charge on tickets, nearly three months after introducing the levy in response to a spike in jet fuel prices. The fuel charge was applicable on the airline's domestic and international routes.
Anticipating favourable conditions and increased coverage, a senior official from the food ministry said that wheat production is projected to reach a new milestone of 114 million tonnes in the current 2023-24 crop year. The final phase of sowing for wheat, the primary rabi crop, is currently underway and is expected to continue until the following week. According to official data, wheat had been planted in 320.54 lakh hectares till the last week. In the preceding 2022-23 crop year (July-June), wheat production achieved a record 110.55 million tonnes, surpassing 107.7 million tonnes from the previous year.

Sensex surges almost 500 points, Nifty ends above 21,600

Thursday 04 January 2024 10:39 AM UTC+00
In a bid to recover from the week's previous losses, the two primary equity benchmarks, Sensex and Nifty, closed Thursday's trading session in positive territory. The S&P BSE Sensex saw a robust gain of nearly 500 points, concluding at 71,847.57, while the NSE Nifty50 surged by almost 150 points, settling at 21,658.60. Among the 30-share Sensex components, Bajaj Finance, NTPC, IndusInd Bank, Axis Bank, and Nestle emerged as the top gainers. Conversely, HCL Tech, M&M, Tata Steel, Hindustan Unilever, and UltraTech Cement faced losses during the day.
The Directorate General of Civil Aviation (DGCA) announced a notable upswing in domestic airline fleet expansion in 2023, with the induction of 133 planes—a remarkable 51% surge compared to the previous year. Among these, 21 aircraft were acquired through wet lease arrangements.
Stock markets update: On the second day in a row, the equity benchmark indices opened in positive on Friday. In the early trade, the 30-share BSE Sensex jumped 308.91 points to 72,156.48. Meanwhile, the Nifty also gained 91 points to 21,749.60 points. 
The government on Friday estimated that the Indian economy will grow by 7.3 per cent in current fiscal against 7.2 per cent expansion in Financial Year 2022-23.
Budget 2024: Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget on February 1, 2024. Since 2024 is an election year, an interim budget will be presented instead of a full budget. Alongside the Union Budget, the Ministry of Finance (MoF) presents another crucial document to the Parliament a day before the budget presentation – the Economic Survey of India. The Economic Survey is an annual report that offers an overview of the Indian economy for the preceding year. Let's look into what the Economic Survey is and understand its significance.
In a significant development, the National Statistical Office (NSO) released its first advance estimates of national accounts on Friday, revealing discrepancies in the computation of India's Gross Domestic Product (GDP) for the fiscal year 2023–24. The reported discrepancies amount to Rs 2.59 lakh crore, a notable shift from (-) Rs 3.80 lakh crore in 2022–23 and (-) Rs 4.47 lakh crore in 2021–22, raising concerns among economic experts.
The construction sector began improving after the pandemic and hit its stride in 2023. It has been driven by rising incomes, a severe housing shortage in big cities, and strong population growth. According to government estimates, India, which is the most populous country in the world, had an urban housing shortage of around 19 million crore units in 2022 and that is expected to double by 2030.
After a dull of three consecutive days this year, Equity benchmark indices opened in positive on Thursday. In the early trade, the 30-share BSE Sensex jumped 351.88 points to 71,708.48. Meanwhile, the Nifty also gained 99 points to 21,616.35 points. 
New Delhi: IndiGo on Thursday said it has removed fuel charge on tickets, nearly three months after introducing the levy in response to a spike in jet fuel prices. The fuel charge was applicable on the airline's domestic and international routes.
Anticipating favourable conditions and increased coverage, a senior official from the food ministry said that wheat production is projected to reach a new milestone of 114 million tonnes in the current 2023-24 crop year. The final phase of sowing for wheat, the primary rabi crop, is currently underway and is expected to continue until the following week. According to official data, wheat had been planted in 320.54 lakh hectares till the last week. In the preceding 2022-23 crop year (July-June), wheat production achieved a record 110.55 million tonnes, surpassing 107.7 million tonnes from the previous year.

Sensex surges almost 500 points, Nifty ends above 21,600

Thursday 04 January 2024 10:39 AM UTC+00
In a bid to recover from the week's previous losses, the two primary equity benchmarks, Sensex and Nifty, closed Thursday's trading session in positive territory. The S&P BSE Sensex saw a robust gain of nearly 500 points, concluding at 71,847.57, while the NSE Nifty50 surged by almost 150 points, settling at 21,658.60. Among the 30-share Sensex components, Bajaj Finance, NTPC, IndusInd Bank, Axis Bank, and Nestle emerged as the top gainers. Conversely, HCL Tech, M&M, Tata Steel, Hindustan Unilever, and UltraTech Cement faced losses during the day.
The Directorate General of Civil Aviation (DGCA) announced a notable upswing in domestic airline fleet expansion in 2023, with the induction of 133 planes—a remarkable 51% surge compared to the previous year. Among these, 21 aircraft were acquired through wet lease arrangements.
Stock markets update: On the second day in a row, the equity benchmark indices opened in positive on Friday. In the early trade, the 30-share BSE Sensex jumped 308.91 points to 72,156.48. Meanwhile, the Nifty also gained 91 points to 21,749.60 points. 
The government on Friday estimated that the Indian economy will grow by 7.3 per cent in current fiscal against 7.2 per cent expansion in Financial Year 2022-23.
Budget 2024: Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget on February 1, 2024. Since 2024 is an election year, an interim budget will be presented instead of a full budget. Alongside the Union Budget, the Ministry of Finance (MoF) presents another crucial document to the Parliament a day before the budget presentation – the Economic Survey of India. The Economic Survey is an annual report that offers an overview of the Indian economy for the preceding year. Let's look into what the Economic Survey is and understand its significance.
In a significant development, the National Statistical Office (NSO) released its first advance estimates of national accounts on Friday, revealing discrepancies in the computation of India's Gross Domestic Product (GDP) for the fiscal year 2023–24. The reported discrepancies amount to Rs 2.59 lakh crore, a notable shift from (-) Rs 3.80 lakh crore in 2022–23 and (-) Rs 4.47 lakh crore in 2021–22, raising concerns among economic experts.
The construction sector began improving after the pandemic and hit its stride in 2023. It has been driven by rising incomes, a severe housing shortage in big cities, and strong population growth. According to government estimates, India, which is the most populous country in the world, had an urban housing shortage of around 19 million crore units in 2022 and that is expected to double by 2030.
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