What you need to know from the Economic Survey

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Jan 29, 2021 | 05:50 PM IST

Dear Readers, Finance Minister Nirmala Sitharaman tabled the Economic Survey in Parliament today. From a 11% GDP growth forecast to the Centre's strategy for the coronavirus and a credit rating agency rebuke, here is your complete lowdown .

Today's Highlights 1 India's GDP to grow 11% in FY22 aided by V-shaped recovery The Gross Domestic Product (GDP) is projected to contract by a record 7.7 per cent in the current fiscal ending March 31, 2021. 2 The original sin that caused India's banking crisis 3 RBI should identify when to rollback forbearance extended to banks 4 Share of private sector in power capacity addition dwindling 5 Sitharaman underlines infrastructure's foundational impact

Markets & Budget SENSEX 46285.77 ↓-588.59 NIFTY 50 13634.60 ↓-182.95 Gold 49221.0 ↑597.00 USD/INR 72.94 ↓-0.11 Budget 2021: API, PLI & R&D sops can be a shot in the arm for healthcare Budget 2021: What can drive auto makers into a fast lane? Fasten your seatbelt! Budgets have a history of creating market turmoils

The takeaway: You can't beat China with jugaad "Mere reliance on 'Jugaad innovation' risks missing the crucial opportunity to innovate our way into the future," the Survey notes. India reaping 'lockdown dividend' by saving lives and livelihood Credit Rating Agencies do not reflect India's economic fundamentals Affordable rates are set to drive Internet adoption E-education, if well utilised, can reduce inequalities in educational outcomes

Budget BytesBudget Bytes This decade is very important for India's bright future: PM Modi ahead of Parliament budget session 03:23 Simplifying processes, easy compliances on top list for MSMEs 08:48 Telcos seek lower licence fee, zero custom duty on gear to cut 5G rollout costs and much more 07:53 Opposition parties to boycott President's address in Parliament ahead of Union Budget 02:51

The importance of investing and strengthening the public health system "Healthcare policy must not become beholden to "saliency bias", where policy overweights a recent phenomenon," believes the Chief Economic Adviser. The barbell strategy that dictated India's response to the pandemic Creation of a regulatory body for the healthcare sector needed Indian airlines to increase fleet despite pandemic Sales of affordable homes improving; signalling recovery in real estate sector

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