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The Economic Survey 2024-25 highlights the negative effects of long work hours on mental well-being and productivity, citing studies that link excessive desk time to distress and health issues.

Economic Survey 2024-25: Long work hours hurt mental well-being, productivity

The Economic Survey 2024-25 highlights the negative effects of long work hours on mental well-being and productivity, citing studies that link excessive desk time to distress and health issues.

Amid a debate over 70-90-hour work week, the pre-Budget Economic Survey 2024-25 on Friday (January 31, 2025) cited studies to state that spending more than 60 hours a week on work could have adverse health effects.
The Survey noted that spending long hours at one's desk is detrimental to mental well-being and individuals who spend 12 or more hours (per day) at a desk have distressed or struggling levels of mental well-being.
"While the hours spent at work are informally considered a measure of productivity, a previous study has documented adverse health effects when hours exceed 55-60 per week," the Survey said, citing findings by Pega F, Nafradi B (2021) and 'A systematic analysis from the WHO/ILO Joint Estimates of the Work-related Burden of Disease and Injury'.
Citing data from a study done by the Sapien Labs Centre for Human Brain and Mind, the Economic Survey, said, "Spending long hours at one's desk is equally detrimental to mental well-being. Individuals who spend 12 or more hours at a desk have distressed/struggling levels of mental well-being, with a mental well-being score approximately 100 points lower than those who spend less than or equal to two hours at a desk."
Citing the study, the Survey said better lifestyle choices, workplace cultures and family relationships are associated with 2-3 fewer days lost per month at work. &ldquo;Having poor relationships with managers and low (worst) pride and purpose at work are associated with the largest increases in the number of days one is unable to work,&rdquo; the Survey said.
The Survey, however, pointed out that multiple factors affect productivity stating that even in jobs with the best managerial relationships, about five days per month are lost "because workplace culture is but one factor (among several) in the determination of productivity (and mental well-being)."
Citing a study by WHO, the Survey said that globally, about 12 billion days are lost annually owing to depression and anxiety, amounting to a financial loss of $1 trillion. "In Rupee terms, this translates to about ₹7,000 per day," it noted.
The take by the Economic Survey 2024-25 on work-hour week comes weeks after Larsen &amp; Toubro Limited chairman and Managing Director S.N. Subrahmanyan sparked off a raging debate on social media when he said employees should work 90-hour a week, including on Sundays rather than sit at home.
He followed Infosys co-founder Narayana Murthy's suggestion of a 70-hour workweek and Adani Group chairman Gautam Adani's "biwi bhaag jayegi (wife will run away)" remark if one spent more than eight hours at home.
However, Mr. Subrahmanyan drew criticism from some peers in the business community. RPG Group Chairman Harsh Goenka said longer working hours was a recipe for burnout and not success. Mahindra Group Chairman Anand Mahindra also asserted that focus should be on the quality of work and productivity rather than the amount of time spent working.
Similarly, ITC Limited chairman Sanjiv Puri stated that empowering employees to realise their potential and accomplish their jobs well was more important than the number of hours put in. The work-life balance debate echoes a similar one in China where the so-called '996 culture' &mdash; the three digits describe a punishing schedule of 9 a.m. to 9 p.m. six days a week &mdash; is being hotly debated.
Citing other studies, the Economic Survey noted that if India's economic ambitions are to be met, then immediate attention must be given to lifestyle choices that are often made during childhood and youth.
&ldquo;Furthermore, hostile work cultures and excessive hours spent working at the desk can adversely affect mental well-being and ultimately put the brakes on the pace of economic growth,&rdquo; it added.

India’s stock market witnessed a significant rally with the Sensex gaining 741 points and Nifty closing above 23,500, fueled by strong Q3 results from Larsen & Toubro and an optimistic outlook from the Economic Survey. 

Sensex rallies 741 pts, Nifty settles above 23,500 as Eco Survey ignites hopes of pro-growth budget

India&rsquo;s stock market witnessed a significant rally with the Sensex gaining 741 points and Nifty closing above 23,500, fueled by strong Q3 results from Larsen &amp; Toubro and an optimistic outlook from the Economic Survey.&nbsp;

Benchmark Sensex jumped 741 points while Nifty rallied to close above 23,500 on Friday on heavy buying in Larsen &amp; Toubro post its Q3 results and the Economic Survey predicting a pro-growth budget.
Rallying for the fourth day running, the 30-share BSE Sensex ended 740.76 points or 0.97 per cent higher at 77,500.57. During the day, it jumped 846.15 points or 1.10 per cent to 77,605.96.
The NSE Nifty rallied 258.90 points or 1.11 per cent to 23,508.40. During the day, it climbed 297.3 points or 1.27 per cent to 23,546.80.
India is expected to record GDP growth of 6.3-6.8 per cent in 2025-26 on the back of strong fundamentals, calibrated fiscal consolidation and stable private consumption, said the Economic Survey tabled in Parliament on Friday.
"The indices are fueled with expectations of a pro-growth budget and prudent fiscal as indicated in the economic survey. Positive global cues and better-than-expected results from major companies also contributed to the upward trend.
"Market expects reductions in individual tax and job generation to boost consumption. By cutting fiscal deficit but continuing to boost infrastructure spending, the government may set the tone for a potential recovery in the consolidating market," Vinod Nair, Head of Research, Geojit Financial Services, said.
From the 30-share blue-chip pack, Larsen &amp; Toubro climbed 4.31 per cent after the infrastructure and engineering major reported 14 per cent rise in consolidated profit after tax to Rs 3,359 crore for the December quarter on the back of higher revenue from operations.
Nestle surged 4.25 per cent after the FMCG major reported 4.94 per cent increase in net profit at Rs 688.01 crore for the quarter ended December 31, 2024.
IndusInd Bank, Titan, Tata Motors, Tata Steel, ITC and Maruti were the other major gainers.
ITC Hotels, Bharti Airtel, Bajaj Finserv, Bajaj Finance and ICICI Bank were among the laggards.
In the month of January, the BSE benchmark declined 638.44 points or 0.81 per cent, while the Nifty lost 136.4 points or 0.57 per cent.
The BSE smallcap gauge jumped 1.83 per cent and midcap index surged 1.76 per cent.
All BSE sectoral indices ended higher. Capital Goods surged the most by 3.89 per cent, followed by industrials (3.61 per cent), power (2.56 per cent), realty (2.24 per cent), utilities (2.05 per cent), energy (1.92 per cent) and FMCG (1.90 per cent).
As many as 2,719 stocks advanced while 1,203 declined and 125 remained unchanged on the BSE.
"As the Union Budget approaches, the critical expectation is to revive market sentiment. Recent budgets have seen increased taxation on the capital market&mdash;higher STT, capital gains taxes, taxation of dividend income in shareholders&rsquo; hands, and the removal of tax benefits on buybacks.
"This year, it&rsquo;s imperative for the Finance Minister to avoid introducing new taxes on investors. Instead, providing meaningful tax rebates to enhance consumer spending power could help revive the consumption cycle," Sunil Damania, Chief Investment Officer, Mojopms, said.
The Economic Survey noted that on a longer-term basis, Indian markets have been among the best-performing markets in the world.
BSE market capitalisation to GDP ratio stood at 136 per cent at the end of December 2024, rising significantly over the last 10 years, it added.
"...the fundamentals of the domestic economy remain robust, with a strong external account, calibrated fiscal consolidation and stable private consumption. On balance of these considerations, we expect that the growth in FY26 would be between 6.3 and 6.8 per cent," the survey said.
In Asian markets, Tokyo settled in positive territory, while Seoul ended lower. Markets in Shanghai and Hong Kong were closed due to holidays.
European markets were trading higher. US markets ended in the positive zone on Thursday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,582.95 crore on Thursday, according to exchange data.
Global oil benchmark Brent crude dipped 0.26 per cent to USD 76.64 a barrel.
The 30-share BSE benchmark Sensex advanced 226.85 points or 0.30 per cent to settle at 76,759.81 on Thursday. The Nifty went up by 86.40 points or 0.37 per cent to 23,249.50.
Stock markets will remain open for trading on Saturday due to the Union Budget presentation.

The Economic Survey 2024-25 reveals a significant drop in India’s unemployment rate, from 6% in 2017-18 to 3.2% in 2023-24. The report highlights strong growth in formal sector employment, especially among youth, and a rise in self-employment.

Economic survey 2024-25 highlights decline in unemployment, surge in formal sector jobs

The Economic Survey 2024-25 reveals a significant drop in India&rsquo;s unemployment rate, from 6% in 2017-18 to 3.2% in 2023-24. The report highlights strong growth in formal sector employment, especially among youth, and a rise in self-employment.

India&rsquo;s unemployment rate has shown a substantial decrease in recent years, according to the Economic Survey 2024-25 presented by Union Finance Minister Nirmala Sitharaman in Parliament on Friday.
The country&rsquo;s unemployment rate (UR) for individuals aged 15 and above has steadily fallen from 6 percent in 2017-18 to 3.2 percent in 2023-24, indicating a positive transformation in the labour market.
The Economic Survey attributes this decline to India&rsquo;s strong post-pandemic recovery and the increased formalization of the job market.&nbsp;
As highlighted in the Periodic Labour Force Survey (PLFS), both the labour force participation rate and the worker population ratio have shown significant growth, suggesting a more dynamic workforce and a reduction in unemployment across various demographic groups.
Beyond the decrease in unemployment, the survey highlights a significant increase in formal sector employment. The net additions to the Employees&rsquo; Provident Fund Organization (EPFO) subscriptions more than doubled, rising from 61 lakh in FY19 to 131 lakh in FY24.&nbsp;
This surge marks the formalization of the job market, with youth emerging as the primary beneficiaries. Nearly 61 percent of net payroll additions have come from workers under the age of 29, signaling a shift towards organized sector jobs for younger generations.
Self-employment has also increased, with the proportion of self-employed workers growing from 52.2 percent in 2017-18 to 58.4 percent in 2023-24. This shift reflects a rise in entrepreneurial activity and a preference for flexible work arrangements.&nbsp;
The growth in self-employment is also reflected in the decrease in casual workers, which dropped from 24.9 percent to 19.8 percent, signaling a transition toward more structured forms of employment.
The Economic Survey advocates for an environment that supports business growth, job creation, and economic development through labor regulations. It recommends flexible working hours and the removal of overtime restrictions, suggesting that these changes would create more opportunities for workers and enhance their earnings potential.
The survey also identifies promising sectors for future job creation, particularly the digital economy and renewable energy industries. These sectors are expected to generate a range of job opportunities, especially for women, which will further drive their financial independence and empowerment.&nbsp;
A greater focus on these industries is anticipated to contribute to a diverse and sustainable job market.
Additionally, the Economic Survey reports that the female labour force participation rate (FLFPR) has seen significant growth, increasing from 23.3 percent in 2017-18 to 41.7 percent in 2023-24. This demonstrates the growing participation of women in the workforce, both in rural and urban areas.

The Economic Survey 2025 emphasizes the growing importance of mental health and gender inclusivity in the workplace. It highlights how fostering mental well-being and implementing gender-inclusive Labour Codes can enhance productivity.

Economic Survey 2025: Prioritizing mental health and gender inclusivity to boost workforce productivity

The Economic Survey 2025 emphasizes the growing importance of mental health and gender inclusivity in the workplace. It highlights how fostering mental well-being and implementing gender-inclusive Labour Codes can enhance productivity.

In today&rsquo;s dynamic work environment, mental health and gender inclusivity are increasingly recognized as crucial for both employee well-being and productivity, according to the Economic Survey 2025.
As businesses and organizations navigate an evolving landscape, focusing on mental health can lead to a more engaged and productive workforce. A vital aspect of mental health is the work culture itself.&nbsp;
<img src="https://cdn.editorji.com/679cb46e08651_1738323054.jpg" width="597" height="330">
Research shows that unhealthy lifestyle choices can negatively impact mental health, while positive relationships with colleagues, manageable workloads, and a sense of purpose at work can significantly improve it.&nbsp;
In addition, healthier lifestyle habits and strong family support systems play an important role in enhancing mental well-being, creating a beneficial cycle for both workers and employers.&nbsp;
A critical area in promoting employee health is tackling non-communicable diseases (NCDs). By incorporating preventive measures and leveraging technology, businesses can help reduce the economic strain on healthcare systems. This not only enhances individual well-being but also supports the financial efficiency of both businesses and healthcare sectors.
On the gender inclusivity front, India&rsquo;s newly introduced Labour Codes aim to eliminate longstanding barriers that have limited women&rsquo;s workforce participation. While past labour laws were intended to protect female workers, they often resulted in challenges that discouraged hiring.&nbsp;
The new codes seek to address these issues by permitting women to work night shifts with safety precautions, extending 26 weeks of maternity leave to gig and informal workers, and mandating creche facilities in workplaces with 50 or more employees.&nbsp;
The revised laws also ensure equal pay and prohibit gender-based discrimination in recruitment, enabling women to work across all sectors, including hazardous roles, with proper safeguards in place.
These reforms represent a significant leap forward in promoting gender inclusivity, workplace safety, and social security for women in India. By creating a more level playing field, the new Labour Codes are expected to encourage greater female participation in the workforce, leading to a more equitable and balanced society.

The Economic Survey 2024-25 projects India’s GDP growth at 6.4%, highlights a drop in unemployment to 3.2%, and reports easing inflation. 

Economic Survey 2024-25 highlights: Strong GDP growth, lower inflation, and falling unemployment

The Economic Survey 2024-25 projects India&rsquo;s GDP growth at 6.4%, highlights a drop in unemployment to 3.2%, and reports easing inflation.&nbsp;

Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-2025 in Parliament, offering a comprehensive analysis of the country&rsquo;s economic health and future trajectory.&nbsp;
The annual document, prepared by Chief Economic Advisor V. Anantha Nageswaran and his team, outlines key economic trends and projections ahead of the Union Budget.
Here are some key takeaways:
<h3>GDP Growth Projection</h3>
The Economic Survey projects India's real GDP to expand by 6.4% in FY25, with growth estimates for FY26 ranging between 6.3% and 6.8%. The document highlights India&rsquo;s strong economic fundamentals, emphasizing a stable private consumption, a balanced external account, and continued fiscal consolidation. &ldquo;The fundamentals of the domestic economy remain robust... We expect that the growth in FY26 would be between 6.3% and 6.8%,&rdquo; the survey noted.
<h3>Inflation Trends</h3>
Retail inflation, as measured by the Consumer Price Index (CPI), moderated from 5.4% in FY24 to 4.9% during April-December 2024, largely due to a 0.9 percentage point decline in core inflation. The survey attributed the decline to global monetary tightening and improving supply chains. However, food inflation remains a concern due to weather disruptions, supply chain issues, and lower harvests in key crops such as vegetables and pulses. The survey anticipates a softening in food inflation in FY25 due to better Kharif harvest arrivals and seasonal easing of vegetable prices. &ldquo;Good Rabi production is likely to contain food prices in the first half of FY26,&rdquo; it stated.
<h3>Unemployment and Labor Market</h3>
The unemployment rate in 2023-24 dropped to 3.2%, a significant decline from 6% in 2017-18. The government&rsquo;s employment-boosting initiatives, including the PM-Internship Scheme, were highlighted as key contributors to this trend.
&ldquo;The government has implemented measures to boost employment, foster self-employment, and promote worker welfare,&rdquo; the survey noted.
<h3>Growth in Formal Sector Employment</h3>
The formal sector has seen substantial expansion, with Employees&rsquo; Provident Fund Organisation (EPFO) subscriptions more than doubling in FY24, jumping from 61 lakh to 131 lakh. Of these, 95.6 lakh new subscriptions were added between April and November 2024, primarily driven by youth employment, as nearly 47% of new payroll additions came from workers aged 18-25 years.
<h3>Sectoral Performance</h3>
Construction emerged as a standout performer, growing 15% above pre-pandemic levels due to robust infrastructure development and strong housing demand. Meanwhile, the utilities sector (electricity, gas, water supply, and other services) has maintained growth beyond pre-pandemic levels, whereas manufacturing is still recovering and remains slightly below its pre-pandemic trajectory. Mining continues to operate below its historical trend.
<h3>Agriculture and Food Production</h3>
The survey highlighted strong performance in the agriculture sector, with Kharif food grain production reaching a record 1,647.05 lakh metric tonnes (LMT) in FY25, representing a 5.7% rise over FY24 and 8.2% higher than the five-year average.
The increase was largely driven by higher output of rice, maize, coarse grains, and oilseeds. The normal southwest monsoon in 2024 improved water reservoir levels, ensuring adequate irrigation for Rabi crops.
<h3>Trade, Exports, and Foreign Direct Investment (FDI)</h3>
Total exports, including merchandise and services, recorded a 6% growth in the first nine months of FY25, reaching $602.6 billion. Growth in non-petroleum, non-gems &amp; jewellery exports stood at 10.4%. Imports also rose by 6.9%, supported by stable domestic demand.
The survey noted that India&rsquo;s export growth has historically been closely linked to global trade growth, but domestic economic levers will play a greater role going forward.
Foreign Direct Investment (FDI) inflows surged 17.9% YoY between April and November 2024, reaching the highest level recorded during this period, except for FY21. However, net FDI declined due to higher repatriation rates, which rose 33.2% YoY following a 51.5% increase in FY24.
The surge in secondary sales and IPO exits by multinational firms was cited as a reflection of investor confidence in the Indian market.
<h3>Foreign Exchange Reserves and Remittances</h3>
As of January 3, 2025, India&rsquo;s forex reserves stood at $634.6 billion, covering 90% of external debt and over 10 months of imports.
Additionally, India remained the world&rsquo;s top recipient of remittances, driven by strong employment growth in OECD economies, helping to contain the Current Account Deficit (CAD) at 1.2% of GDP in Q2 FY25.
<h3>Banking Sector and NPAs</h3>
The Economic Survey cited RBI&rsquo;s Financial Stability Report (FSR) of December 2024, noting that gross non-performing assets (NPAs) had declined to a 12-year low of 2.6% of total loans. Stress tests indicate that banks will maintain sufficient capital even in adverse conditions.
<h3>India&rsquo;s Economic Outlook: Poised for Global Leadership</h3>
The survey underscored India&rsquo;s rapid ascent as a global economic powerhouse, noting that the country jumped from the world&rsquo;s 10th largest economy in 2014 to 4th place today. &ldquo;India is poised to become the third-largest economy by 2030, following the USA and China,&rdquo; the report stated.
It attributed this trajectory to a young workforce, a robust manufacturing sector, and demographic advantages. With a median age of 28 years, India&rsquo;s workforce remains significantly younger than those of aging developed economies, offering a strong foundation for long-term growth.

The Economic Survey for FY26 aligns with RBI's inflation projections, focusing on key factors driving food inflation, particularly the Tomato, Onion, and Potato (TOP) commodities. 

Economic Survey highlights inflation projections and agricultural reforms for FY26

The Economic Survey for FY26 aligns with RBI's inflation projections, focusing on key factors driving food inflation, particularly the Tomato, Onion, and Potato (TOP) commodities.&nbsp;

The Economic Survey tabled in Parliament on Friday aligns with the Reserve Bank of India&rsquo;s (RBI) projection of headline inflation for FY26 at 4.2 percent and 4.8 percent in the current fiscal year.&nbsp;
With the Union Budget set to be presented on Saturday, the Economic Survey stressed the role of a few key commodities&mdash;Tomato, Onion, and Potato (TOP)&mdash;in driving food inflation. When these three price-sensitive vegetables were excluded, the average food inflation in FY25 (April-December) stood at 6.5 percent, which is 1.9 percentage points lower than the overall food inflation rate.&nbsp;
Similarly, excluding the impact of TOP, the headline inflation rate was 4.2 percent, which is 0.7 percentage points lower than the current headline inflation.
Despite a global decline in food inflation, India continues to face persistent inflationary pressures in specific food categories, primarily due to supply chain disruptions and adverse weather conditions affecting production.&nbsp;
The moderation in global commodity prices is expected to help ease India&rsquo;s domestic inflation. The survey highlights that a normal southwest monsoon in 2024 has considerably improved water reservoir levels, ensuring adequate irrigation for rabi crop production.&nbsp;
The first advanced estimates of agricultural production for 2024-25 predict a 5.7 percent increase in Kharif food grain production. Rice and tur production are expected to increase by 5.9 percent and 2.5 percent, respectively, compared to 2023-24, which may contribute to alleviating food inflation in the months ahead.
However, the survey also noted potential risks to food inflation due to rising international vegetable oil prices. To ensure long-term price stability in essential food commodities, the government is focusing on structural reforms.&nbsp;
A key strategy is enhancing research and development in agriculture, particularly in developing climate-resilient crop varieties, which could help improve yields and reduce vulnerability to production losses.&nbsp;
Additionally, the government is encouraging increased cultivation in rice-fallow regions to address India&rsquo;s persistent deficit in pulses and oilseeds. Strengthening data collection and price monitoring systems is another important step, with the government implementing mechanisms to track prices, stock levels, and storage facilities at various administrative levels.&nbsp;
The survey further pointed out that extreme weather events such as cyclones, floods, droughts, and unseasonal rainfall have worsened food price volatility.

India's Economic Survey 2024-25 emphasizes the country's potential to benefit from AI, stressing the need for investments in education and workforce skilling. The survey also highlights challenges related to AI adoption.

India's Economic Survey 2024-25 highlights AI potential, workforce challenges

India's Economic Survey 2024-25 emphasizes the country's potential to benefit from AI, stressing the need for investments in education and workforce skilling. The survey also highlights challenges related to AI adoption.

India's diverse economy and demographic advantage offer a unique position to benefit from the rapid advancements in artificial intelligence (AI), according to the Economic Survey for 2024-25 tabled in Parliament on Friday.&nbsp;
However, realizing these advantages requires significant investments in education and workforce development, along with the creation of institutions that can provide necessary support for adapting to technological changes.&nbsp;
The Economic Survey, presented by Finance Minister Nirmala Sitharaman, stated, "These mechanisms can help workers adapt to changing demands while providing essential safety nets."
Despite AI's significant potential, the technology is still in a developmental phase and faces several challenges. While its growth is undeniable, AI has not yet reached the level of widespread adoption seen with technologies like personal computers and the internet.&nbsp;
The Economic Survey, prepared under Chief Economic Adviser Anantha Nageswaran&rsquo;s leadership, stressed the importance of policymakers considering the evolving nature of AI and its effects on labor markets.&nbsp;
"Historical parallels with earlier technological revolutions reveal the critical role of inclusive institutions in managing disruption and ensuring equitable outcomes," the report said.
The survey also highlighted several barriers to AI's large-scale implementation, such as concerns over reliability, infrastructure deficits, and inefficiencies. As AI&rsquo;s capabilities grow, so do concerns about its impact on labor markets, particularly in light of recent developments.&nbsp;
The Economic Survey quoted OpenAI&rsquo;s founder, who predicted the arrival of "AI workers" by the end of 2025. As AI systems become increasingly advanced, they are expected to outperform humans in decision-making roles across sectors like healthcare, criminal justice, business, and finance, which presents both opportunities and challenges.
The Economic Survey emphasized the need for a responsible and balanced approach to AI adoption, particularly in India, where the scale of employment means the impacts will be more pronounced. The chapter on AI also noted a significant shift in public perceptions of the technology, calling for its development to align with societal goals.&nbsp;
The report noted the rise of leading AI companies, including Google (Gemini), Microsoft (Co-Pilot), Meta (MetaAI with Llama), and others, and pointed to the growing global interest in AI. Between 2021 and 2022, AI patents granted worldwide rose by 62.7%, totaling over 62,000 patents, and private investment in generative AI surged from USD 3 billion in 2022 to USD 25.2 billion in 2023.
Corporate investments in AI between 2021 and 2023 reached USD 761 billion globally, with more companies referencing AI in their earnings calls, and CEOs anticipating that AI adoption will reduce labor requirements in various industries.&nbsp;
The Economic Survey's assessment underscores the need for India to strategically navigate the opportunities and challenges presented by AI, ensuring its benefits while mitigating potential disruptions to the workforce. ALSO READ: <a href="https://www.editorji.com/business-news/economy/india-s-economic-growth-projected-at-6-3-6-8-in-fy26-economic-survey-2024-25-1738313681624" target="_blank">India&rsquo;s economic growth projected at 6.3%-6.8% in FY26: Economic Survey 2024-25</a>

Finance Minister Nirmala Sitharaman tabled the Economic Survey for 2024-25 in Parliament, revealing a 5.4% GDP growth for Q2 2024-25. 

FM Nirmala Sitharaman tables Economic Survey 2024-25 in Lok Sabha

Finance Minister Nirmala Sitharaman tabled the Economic Survey for 2024-25 in Parliament, revealing a 5.4% GDP growth for Q2 2024-25.&nbsp;

Finance Minister Nirmala Sitharaman has presented the Economic Survey for 2024-25 in both the Lok Sabha and Rajya Sabha.&nbsp;
Following this, the houses were adjourned for the day. As per tradition, the Finance Minister tabled this pre-budget document, which provides an in-depth view of the state of the economy, one day ahead of the Union Budget for the fiscal year 2025-26.
<h3>Understanding the Economic Survey</h3>
The Economic Survey, crafted by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and overseen by the Chief Economic Adviser, offers key insights into the economy&rsquo;s performance during 2024-25 (April-March).&nbsp;
It also provides an outlook for the next fiscal year and often gives an indication of the tone and direction of the upcoming Union Budget. The Economic Survey has been presented separately from the Budget since the 1960s, but it originally began as part of the budget documents in 1950-51.
<h3>Economic Growth and Outlook</h3>
India&rsquo;s economy grew by 5.4 percent in real terms during the July-September quarter of 2024-25. This growth was slower than the Reserve Bank of India&rsquo;s (RBI) forecast of 7 percent for the quarter.&nbsp;
The growth in the April-June quarter also fell short of the RBI&rsquo;s earlier projections. In light of this, the RBI has revised its growth forecast for 2024-25 down to 6.6 percent, compared to the earlier estimate of 7.2 percent.&nbsp;
However, the government expects a growth rate of 6.4 percent for the fiscal year. Despite these slower quarters, India&rsquo;s GDP grew by 8.2 percent in 2023-24, maintaining its position as the fastest-growing major economy, following growth rates of 7.2 percent in 2022-23 and 8.7 percent in 2021-22.
<h3>Budget Session 2025</h3>
The budget session of Parliament is scheduled to begin on January 31 and will conclude on April 4. The Union Budget for 2025-26 will be presented on February 1.&nbsp;
Finance Minister Sitharaman will deliver her budget speech at 11 am in the Lok Sabha, where she will outline the government&rsquo;s fiscal policies, revenue and expenditure plans, taxation reforms, and other significant proposals.&nbsp;
With this upcoming budget, Sitharaman will have presented her eighth budget.

The Economic Survey said that the size of the educated job seekers is considerably high with new registration jumping by a whopping over seven times in just a single year.

Number of educated jobless youths rise 7 times in Assam in 2022: survey

The Economic Survey said that the size of the educated job seekers is considerably high with new registration jumping by a whopping over seven times in just a single year.

The latest Economic Survey Assam has stated that nearly 10 lakh fresh educated youths have registered in employment exchanges in the state in 2022 compared to just 1.4 lakh in the previous year.
Terming it a huge challenge before the state, the Economic Survey, Assam for 2023-24 stated that the size of the educated job seekers is considerably high with new registration jumping by a whopping over seven times in just a single year.
"From the records of the live register of Employment Exchanges, the registered educated job seekers stood at 9,83,093 in 2022 as against 1,37,865 during 2021," it added.
The report, which was tabled in the Assam Assembly during the Budget Session this month, stressed that the number of educated job seekers has increased at all levels of education in 2022 over 2021.
It said that the overall number of educated job seekers stood at 18,05,441 as per registrations at Employment Exchanges in 2021 as against 17,46,671 during 2020, thereby showing an increase of 3.36 per cent.
The unemployment rate among the persons aged 15 years and above who were available for work but could not get work stood at 1.7 per cent in Assam during 2022-23 compared to 3.2 per cent in the entire country.
"In rural areas, the unemployment rate is 1.5 per cent whereas in urban areas, the unemployment rate is 6.1 per cent in Assam during 2022-23. The unemployment rate at all India level is 2.4 per cent in rural areas and 5.4 per cent in urban areas during the same period," the survey said.
Observing the burning problem of unemployment in the state, the Government of Assam has taken some positive initiative to decrease the burden, it noted.
The report highlighted that a process to engage 1,00,000 unemployed youths in government jobs in different departments has been going on.
"The state government has also started different employment oriented programme/schemes to engage more unemployed youths in full-time or part time and create opportunities for their self-employment," it added.

Finance Ministry's monthly economic analysis noted that the macroeconomic stability demonstrated by the improved current account deficit, lessening inflation pressure, and a solid banking sector has made the growth rate sustainable

Global economy and weather conditions may hinder with India's economic growth 

Finance Ministry's monthly economic analysis noted that the macroeconomic stability demonstrated by the improved current account deficit, lessening inflation pressure, and a solid banking sector has made the growth rate sustainable

The Finance Ministry listed potential risks for the Indian economy in its monthly economic review for March. These risks included geopolitical developments, global financial stability, and El Nino conditions that can cause drought conditions, lower agricultural output, and higher prices. It also stated that increased prices and financial tightening have hurt growth expectations and will continue to have an impact on the economy until February 2025.
However, according to the research, the macroeconomic stability demonstrated by an improved current account deficit, reduced inflation pressure, and a solid banking sector has made the growth rate sustainable. With reducing inflationary pressures in March 2023, brought on by an easing of food prices and core inflation, which dropped to a 16-month low, it was said that internal macroeconomic stability had been further strengthened. Due mostly to a large base effect, retail inflation measured by the Consumer Price Index decreased to a 15-month low of 5.66% in March.
The unstable global crude oil market, however, could in the future have an impact on India's inflation trajectory, according to the paper. Crude oil prices have already increased as a result of this from April 2023. The report also stated that limited supplies of milk and wheat are anticipated to have an impact on the trajectory of inflation. The research highlighted flaws in the financial system by highlighting the recent failure of a few banks in the US and Europe as well as the Union Bank of Switzerland's (UBS) acquisition of the crisis-hit Credit Suisse Bank.
Droughts caused by the El Nino weather phenomena, which might affect food production and increase price pressures, was also warned about in the report. It also stated that geopolitical uncertainties and the global monetary tightening are likely to have an impact on India's growth.
However, the statement continued, 'we reiterate that downside risks to our official forecast of 6.5 percent for real GDP growth in 2023&ndash;24 dominate upside risks.'

Survey said that though India's merchandise exports have touched an all-time high of USD 422 billion in 2021-22

Economic Survey 2022-23: CEA briefs media 

Economic Survey 2022-23: CEA Briefs Media 

Survey said that though India's merchandise exports have touched an all-time high of USD 422 billion in 2021-22

Chief Economic Advisor, V Anantha Nageswaran's outlines the highlights of the economic survey 2022-23. The survey, which is a report card of the state of the country's economy, is always presented a day before the union budget.

Economic Survey expects India’s GDP growth to slow from 7 percent in the current fiscal (2022-23) to 6.5 per cent in 2023-24

Economic Survey 2023: Inflation, Borrowing Cost, CAD Key Concerns

Economic Survey expects India&rsquo;s GDP growth to slow from 7 percent in the current fiscal (2022-23) to 6.5 per cent in 2023-24

The Economic Survey expects India&rsquo;s GDP growth to slow from 7 percent in the current fiscal (2022-23) to 6.5 per cent in 2023-24. While doing so, it outlines the key challenges to growth. The survey says that borrowing cost may remain 'higher for longer', and an entrenched inflation may prolong the interest rate tightening cycle. It also expects the challenge of rupee depreciation to persist with the likelihood of further interest rate hikes by the US Federal Reserve. India&rsquo;s widening current account deficit or CAD is another key concern highlighted in the Survey. It says that CAD may continue to widen as global commodity prices remain elevated. However, the survey adds that the overall external situation remains manageable as India has sufficient forex reserves to finance CAD and intervene in forex market to manage rupee volatility.

The Survey also talks about the post-COVID economic recovery and says that the Economy has nearly "recouped" what was lost, "renewed" what had paused, and "renerengised" what had slowed during the pandemic and since the conflict in Europe

FM tables economic survey; economy projected to grow at 6.5% in FY24

The Survey also talks about the post-COVID economic recovery and says that the Economy has nearly "recouped" what was lost, "renewed" what had paused, and "renerengised" what had slowed during the pandemic and since the conflict in Europe

Finance Minister Nirmala Sitharaman has tabled the Economic Survey in the Lok Sabha. The survey expects India's economy to grow at 6.5 per cent in 2023-24 compared to 7 per cent in the current fiscal (2022-23), and 8.7 per cent in 2021-22. It says that India will remain the fastest growing major economy in the world, driven by private consumption, higher capex, strengthening corporate balance sheet, credit growth to small businesses and return of migrant workers to cities. The Survey also talks about the post-COVID economic recovery and says that the Economy has nearly "recouped" what was lost, "renewed" what had paused, and "renerengised" what had slowed during the pandemic and since the conflict in Europe. The Economic Survey has also highlighted that though RBI&rsquo;s projection of 6.8 per cent inflation this fiscal is outside the upper target limit, but it&rsquo;s not high enough to deter private consumption, and also not too low to weaken inducement to invest.

The session will commence with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament. The address essentially highlights the government’s achievements and policy priorities.

Parliament's Budget session from Tuesday, President Murmu to address joint sitting of two Houses

The session will commence with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament. The address essentially highlights the government&rsquo;s achievements and policy priorities.

The Budget session of Parliament kicks off on Tuesday with opposition parties geared up to target the government on a range of issues including the Adani-Hindenburg row while the Centre asserted it was willing to discuss every matter allowed by rules.
The session will commence with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament. The address essentially highlights the government&rsquo;s achievements and policy priorities.
The Economic Survey will be also tabled on Tuesday after the President's address.
The Budget session will have 27 sittings. The first part of the session will conclude on February 14. Parliament will reconvene on March 12 for the second part of the session and continue till April 6.
Finance Minister Nirmala Sitharaman will on Wednesday present the last full-fledged Union Budget of the Modi government before the 2024 Lok Sabha elections.
(PTI)

Economic Survey also helps policymakers identify the main challenges to the nation’s GDP growth. The Economic Survey document comprises Volume I, Volume II, and the statistical appendix

Economic Survey 2023: What is it? who is going to present it and what is expected?

Economic Survey also helps policymakers identify the main challenges to the nation&rsquo;s GDP growth. The Economic Survey document comprises Volume I, Volume II, and the statistical appendix

What is Economic Survey? It is a comprehensive analysis of the state of India's economy over the past financial year. It analyses the trends and gives detailed data on various sectors including agricultural, manufacturing and services. It also covers topics such as employment, inflation, trade, foreign exchange reserves, and other economic areas. It helps the policymakers identify the main challenges to economic growth and formulate their response accordingly. The Economic Survey is prepared under the guidance of the Chief Economic Adviser. Who will present it? Union Finance Minister Nirmala Sitharaman will table the Economic Survey in the Parliament after President Droupadi Murmu&rsquo;s address to the joint sitting of the Lok Sabha and the Rajya Sabha. At 2 PM, CEA V Anantha Nageswaran will address a press conference sharing the details of the document. Growth Picture: Expectations From Economic Survey The Economic Survey 2022-23 is likely to peg India&rsquo;s GDP growth at 6 to 6.8 per cent. It may say that growth is seen at 6.5 per cent for 2023-24 under the baseline scenario, which would be the slowest in three years.

India surpassed the United Kingdom to become the fifth largest economy in the world on Friday, according to a report by Bloomberg.

India overtakes UK to become world’s fifth largest economy; politicians, industrialists welcome news

India leapt past UK in the last three months of 2021, as the latter continues to face a cost-of-living crisis amid rising inflation&mdash;the highest in four decades&mdash;a potential recession.&nbsp;

India surpassed the United Kingdom to become the fifth largest economy in the world on Friday, according to a report by Bloomberg.
The calculations have been made in terms of US dollars and historic exchange rates on the Bloomberg terminal and based on Gross Domestic Product (GDP) figures from International Monetary Fund (IMF) database.
New Delhi leapt past Britain to the sixth spot in the last three months of 2021, as the latter faces a cost-of-living crisis amid rising inflation&mdash;the highest in four decades&mdash;a potential recession that the Bank of England says may last well into 2024, and a leadership crisis after Boris Johnson's resignation.
By contrast, the Indian economy is forecast to grow more than 7 percent in 2022.
Also read: <a href="https://www.editorji.com/business-news/economy/india-75-the-economy-report-card-1660500265306">India @ 75: The economy report card&nbsp;</a>
According to the Bloomberg report, on an adjusted basis and using the dollar exchange rate on the last day of the relevant quarter, the size of the Indian economy with regards to &lsquo;nominal&rsquo; cash was $854.7 billion during the quarter through March. The corresponding figure for the UK stood at $814 billion.
UK GDP grew just 1 percent in cash terms in the second quarter and, after adjusting for inflation, shrank 0.1 percent. Sterling has also underperformed the dollar relative to the rupee, with the pound falling 8% against the Indian currency this year, as per the Bloomberg report.
India welcomed the news. Finance Minister Nirmala Sitharaman shared an excerpt from the report on Twitter, Union Health Minister Dr Mansukh Mandaviya tweeted saying "India is writing new pages of success."
Business Tycoon Anand Mahindra also took to Twitter to laud the development.
"The law of Karma works. News that would have filled the hearts of every Indian that fought hard &amp; sacrificed much for freedom. And a silent but strong reply to those who thought India would descend into chaos. A time for silent reflection, gratitude," he said.
Bharatiya Janata Party (BJP) spokesperson Sambit Patra said that India is now ahead of those who ruled it.
"India has taken over the UK and become the fifth largest economy in the world. Once, who ruled us are now behind us in the economy. However, Congress is unable to shed its colonial mindset," he said while addressing the media.
The IMF's forecasts also show India pegged to overtake the UK in dollar terms on an annual basis in 2022, placing India just behind the US, China, Japan and Germany.&nbsp;
Almost 10 years ago, India was ranked the world&rsquo;s 11th largest economy, while the UK stood at the fifth spot.

CEA V Anantha Nageswaran addressed a press conference on Monday after the presentation of the Economic Survey 2021-22 by Nirmala Sitharaman in the Parliament

Economic Survey 2022: Govt persuaded four-pronged approach to support economy, says CEA V Anantha Nageswaran

Economic Survey 2022: Govt persuaded four-pronged approach to support economy, says CEA Nageswaran

Here's what he said 

Economic Survey 2022: Govt persuaded four-pronged approach to support economy, says CEA Nageswaran

The overall approach taken as per the survey has been a short term support to economy, especially to vulnerable sections during these uncertain times while keeping a firm eye on physical stability, Nageswaran added.

Economic Survey 2022: The newly appointed Chief Economic Adviser (CEA) V Anantha Nageswaran addressed a press conference on Monday after the presentation of the&nbsp;Economic Survey 2021-22&nbsp;by Finance Minister Nirmala Sitharaman in the Parliament, ahead of <a href="https://www.editorji.com/business-news/budget" target="_blank">Budget 2022</a>. <a href="https://www.editorji.com/partner/all-india-management-association/aima-conclave-2022-cea-v-anantha-nageswaran-talks-about-building-for-a-better-economy-1649924594182" target="_blank">V Anantha Nageswaran</a> said that the overall theme of the Survey was the same as the themes of the Union government's economic response to Covid and the disruptions that came in its wake.
Also read and watch:<a href="https://www.editorji.com/business-news/budget/economy-bounced-back-to-pre-pandemic-levels-sanjeev-sanyal-1643627210647" target="_blank">&nbsp;Economy bounced back to pre-pandemic levels: Sanjeev Sanyal</a>
<h3>The government has pursued a four-pronged approach:</h3>
1. Short-term support to the economy, especially the vulnerable sections.
2. Keeping a firm eye on the medium-term fiscal stability
3. Initiating structural and supply-side reforms.
4. Attention to process reforms.
The survey showed that India's economy is expected to grow by 9.2% during the current financial year, whereas it expects the economy to grow by 8-8.5% in the fiscal beginning April 1.
<a href="https://www.editorji.com/business-news/budget-2022-nirmala-sitharaman-at-parliament-with-her-bahi-khata-set-to-present-her-4th-budget-1643688639572" target="_blank">Budget 2022: Nirmala Sitharaman at Parliament with her 'bahi khata', set to present her 4th budget</a>

The survey has been compiled by Principal Economic Adviser Sanjeev Sanyal & his advisers. Sanyal mentioned that the economy has bounced back to the pre-pandemic level.

Economy bounced back to pre-pandemic levels: Sanjeev Sanyal

Gross Tax Revenue registers a growth of over 50 percent during April to November, 2021 in YoY terms, GVA of services crossed pre-pandemic level and more.

Economy bounced back to pre-pandemic levels: Saneev Sanyal

Indian economy estimated to grow by 9.2 percent in real terms in 2021-22

<a href="https://www.editorji.com/partner/all-india-management-association/aima-conclave-2022-cea-v-anantha-nageswaran-talks-about-building-for-a-better-economy-1649924594182" target="_blank">V Anantha Nageswaran</a>, the newly appointed Chief Economic Adviser,&nbsp;addressed media on Monday after Finance Minister Nirmala Sitharaman&nbsp;tabled the Economic Survey 2022 in the Parliament earlier in the day. The survey has been compiled by Principal Economic Adviser Sanjeev Sanyal &amp; his advisers. Sanyal&nbsp;mentioned that the economy has bounced back to the pre-pandemic level.
<h3>Here is some data from the <a href="https://www.editorji.com/business-news/economic-survey-2022-govt-persuaded-four-pronged-approach-to-support-economy-says-cea-nageswaran-1643628228169" target="_blank">economic survey</a>:</h3>
&bull;&nbsp; Gross Tax Revenue registers a growth of over 50 percent during April to November, 2021 in YoY terms.&nbsp; This performance is strong compared to pre-pandemic levels of 2019-2020 also.&nbsp;
&bull;&nbsp; India&rsquo;s merchandise exports and imports rebounded strongly and surpassed pre-COVID levels during the current financial year.
&bull;&nbsp;&nbsp;GVA of services crossed pre-pandemic level in July-September quarter of 2021-22; however, GVA of contact intensive sectors like trade, transport, etc. still remain below pre-pandemic level.
&bull;&nbsp; Services exports surpassed pre-pandemic level in January-March quarter of 2020-21 and grew by 21.6 percent in the first half of 2021-22 - strengthened by global demand for software and IT services exports.
&bull;&nbsp; With revival of economy, employment indicators bounced back to pre-pandemic levels during last quarter of 2020-21.
Also Watch: <a href="https://www.editorji.com/business-news/budget/budget-2022-govt-makes-case-for-higher-spending-fiscal-space-in-eco-survey-1643616221091" target="_blank">Budget 2022: Govt makes case for higher spending, fiscal space in Eco Survey</a>&nbsp;

Budget 2022: Let the money flow! The Economic Survey has cued the tune of spending for the Budget 2022.

Budget 2022: Govt makes case for higher spending, fiscal space in Economic Survey

The strong revival in revenues in FY22 means that Government has fiscal space to provide additional support if necessary

Govt makes case for higher spending

Fiscal deficit for FY'22 likely to meet estimates of 6.8% and reduce to 6.1% in the coming fiscal year.&nbsp;

Budget 2022: Let the money flow! The Economic Survey has cued the tune of spending for the <a href="https://www.editorji.com/business-news/budget" target="_blank">Budget 2022</a>. The digital copy of the document highlights the 'space' North Block has to keep growth supported while keeping an eye on fiscal fitness
<h3>Here is what the <a href="https://www.editorji.com/business-news/economic-survey-2022-prez-kovind-lauds-india-s-startup-culture-1643613699455" target="_blank">Economic </a><a href="https://www.editorji.com/business-news/economic-survey-2022-prez-kovind-lauds-india-s-startup-culture-1643613699455" target="_blank">Survey</a> states-:</h3>
&bull;&nbsp; Economy well placed to take on challenges of FY23
&bull;&nbsp; The strong revival in revenues in FY22 means that Government has fiscal space to provide additional support if necessary
&bull;&nbsp; Financial system in a good place to support revival&nbsp;
The fiscal deficit for 2022 is pegged at 6.8% is likely to meet the budget estimates due to buoyant tax revenues even if the govt does not cash in LIC&nbsp;divestment this year.
<a href="https://www.editorji.com/business-news/budget-subsidy-spend-govt-said-to-spend-another-40-billion-on-food-fertiliser-1643607770536" target="_blank">Budget subsidy spend - Govt said to spend another $40 billion on food, fertiliser</a>

Economic Survey 2022: As the Budget session of Parliament kickstarted today, President Ram Nath Kovind began his address by wishing the parliament session, 75th Independ

 Economic Survey 2022: President Ram Nath Kovind lauds India's startup culture

As the Budget session of Parliament kickstarts today, President Ram Nath Kovind lauds India's startup culture and Digital India 

Here's what he said 

 Economic Survey 2022: Prez Kovind lauds India's startup culture

As the Budget session of Parliament kickstarts&nbsp;today,&nbsp;President Ram Nath Kovind begins his address by wishing the parliament session, 75th Independence Day.
From lauding&nbsp;increasing the marriage age of women to 21 to removing triple talaq while talking about women empowerment and &lsquo;Beti Bachao, Beti Padhao&rsquo; campaign,&nbsp;Kovind&nbsp;said&nbsp;over 40 unicorns emerged in India during Covid crisis, while lauding India's startup culture.&nbsp;
Let's listen to his address:&nbsp;

President Ram Nath&nbsp;Kovind said that Ayushman Bharat &ndash; Pradhan Mantri Jan Arogya Yojana has helped poor get quick access to healthcare

Economic Survey 2022: As the Budget session of Parliament kickstarted&nbsp;today,&nbsp;President Ram Nath Kovind began his address by wishing the parliament session, 75th Independence Day.
From lauding&nbsp;increasing the marriage age of women to 21 to removing triple talaq while talking about women empowerment and &lsquo;Beti Bachao, Beti Padhao&rsquo; campaign,&nbsp;Kovind&nbsp;said&nbsp;India&rsquo;s capability to fight&nbsp;Covid-19&nbsp;was evident in its vaccination program. Also read and watch:&nbsp;<a title="Budget 2022: Economic Survey pegs this year GDP at 9.2% next year 8-8-8.5% GDP growth in FY23" href="https://www.editorji.com/business-news/budget/budget-2022-economic-survey-pegs-this-year-gdp-at-9-2-next-year-8-8-8-5-gdp-growth-in-fy23-1643614109254">Budget 2022: Economic Survey pegs this year GDP at 9.2% next year 8-8-8.5% GDP growth in FY23</a> 
He further added that <a href="https://www.editorji.com/india-news/ayushman-bharat-digital-mission-healthcare-s-upi-moment-1632721723399" target="_blank">Ayushman Bharat</a> and Jan Aushad have helped people in the country to access health benefits at low cost.&nbsp;Today, we&rsquo;re one of the leading nations in the world when it comes to the number of doses given.&nbsp;
Ram Nath Kovind said,&nbsp;India has once again become one of the fastest growing economies of the world and has emerged as the second largest mobile phone manufacturer gloablly.&nbsp;Over 40 unicorn startups were created in 2021. India's exports growing at a record pace.&nbsp;Government is working on 5G connectivity.
Since 2016, more than 60,000 start-ups set up in country in 56 different sectors leading to 6 lakh new jobs, says President Ram Nath Kovind.&nbsp;

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