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State of the Economy 2022-23: Recovery Complete
India’s Medium-term Growth Outlook: With Optimism and Hope
Fiscal Developments: Revenue Relish
Monetary Management and Financial Intermediation: A Good Year
Prices and Inflation: Successful Tight-Rope Walking
Social Infrastructure and Employment: Big Tent
Climate Change and Environment: Preparing to Face the Future
Agriculture & Food Management: From Food Security to Nutritional Security
Industry: Steady Recovery
Services: Source of Strength
External Sector: Watchful and Hopeful
Physical and Digital Infrastructure: Lifting Potential Growth
State of the Economy 2022-23: Recovery Complete
The Global Economy Battles Through a Unique Set of Challenges
Macroeconomic and Growth Challenges in the Indian Economy
India’s Economic Resilience and Growth Drivers
India’s Inclusive Growth
Outlook: 2023-24
India’s Medium-term Growth Outlook: With Optimism and Hope
Introduction
Product and Capital Market Reforms
Reforms for New India- Sabka Saath Sabka Vikaas
Returns to the Economic and Structural Reforms after 2014
Growth Magnets in this Decade (2023-2030)
Fiscal Developments: Revenue Relish
Developments in Union Government Finances
Overview of State Government Finances
Debt Profile of the Government
Improved fiscal transparency and realistic revenue assumptions in the Budget The Budget FY18 discontinued having Plan and Non-Plan classifications of Government expenditure.
The reform gave a greater emphasis to the Revenue and Capital classification of Government
expenditure.
The railway budget was merged with the Union Budget from FY18. The reform gave a holistic picture of the government’s financial position. The initiative envisaged facilitating multimodal transport planning between highways, railways and inland waterways, which has been strengthened in the subsequent years through Gatishakti.
The date of the Budget was advanced to 1 February from the Budget FY18. The advancement of Budget presentation by a month has paved the way for early completion of the Budget cycle.
The spike in India’s debt and deficit ratios has not only been due to higher spending necessitated by the pandemic-induced cessation of economic activity but also due to the contraction or slower growth in the denominator (nominal GDP). In FY20, India’s GDP growth slowed down due to the ongoing stress in the financial system
Monetary Management and Financial Intermediation: A Good Year
Monetary Developments
Liquidity Conditions
Monetary Policy Transmission
Developments in the G-sec Market
Banking Sector
Credit Growth Aided by a Sound Banking System and Deleveraged Corporate Sector
Non-Banking Financial Companies Continue to Recover
Progress Made Under the Insolvency and Bankruptcy Code
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