Economic Survey on various Sectors
#GS 03 Economy
- Economic Survey asserted that India’s GDP would grow 6.5% in 2023-24 supported by solid domestic demand and a pickup in capital investment.
- The final growth outcome for 2023-24 is expected to be in the range of 6% to 6.8% subjected to the trajectory of global economic and political developments.
- According to the Economic Survey out of the budgeted disinvestment target of ₹65,000 crore for the current fiscal year, 48% or over ₹31,000 crore has been collected as of January 18.
- According to the Economic Survey 2022-23 6.49 crore households have demanded work under MGNREGS out of which 5.7 crore actually availed it.
- As per the survey the scheme have had a positive impact on income per household, agricultural productivity, and production-related expenditure.
- Budgetary allocations to the scheme have been increased successively since 2013 from ₹32,992 crore in the 2013-14 Union Budget to ₹73,000 crore in 2021-22.
- However, in recent years, the actual expenditure on the scheme has successively been higher than the amount allocated to it in the budget.
- Almost half of all health spending in India remains out-of-pocket expenditure though it has dropped as the government’s share of spending on health went up significantly post 2013-14.
- The share of government in the total health expenditure was as low as 28.6% in the financial year 2013-14, which rose to 40.6% by 2018-19.
- The Economic Survey, 2022-23 says that the budgetary allocation for education as a percentage of total expenditure has dropped over the past seven years, from 10.4% to 9.5%.
- Even though the expenditure on social services increased from ₹9,15,500 crore to ₹21,32,059 crore, the share of education within this category decreased from 42.8% to 35.5% between the financial years 2015-16 and 2022-23.
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