Budget Session 2018 updates: Economic Survey sets agriculture, stronger GST, recapitalisation of banks as agenda for 2018-19

Policy should focus on agriculture, stabalising GST, privatisation of Air-India: Arvind Subramanian | ANI

Govt need not take any radical steps, just finish what started, says Arvind Subramanian

Important steps have been taken to remove hurdles: Arvind Subramanian

Rise in oil prices affected held back real economic activity: Arvind Subramanian

Top 1% of Indian exporters account for 38 percent of exports: Arvind Subramanian

Sensex up 320 pts on Economic Survey growth projections | PTI

According to PTI, the benchmark Sensex maintained its early upward trend and was trading over 320 points higher after the Economic Survey said India is likely to clock 7-7.5 percent growth in 2018-19, up from 6.75 percent in the current fiscal.

The 30-share barometer, after scaling a new peak of 36,410.60 points in late morning trade on optimistic buying, succumbed to profit-booking at record levels and gave up a part of the gains.

It was trading at 36,370.92 at 1300 hours, up 320.48 points, or 0.89 percent, after the Economic Survey was tabled in Parliament, the news agency said.

Indian parents continue to have children until they have a son, reveals Economic Survey

Here is a list of ten key facts revealed in the Economic Survey:

'Extreme weather adversely impacts agriculture yields'

Inflation remained moderate during 2017-18

Maharashtra, UP, Tamil Nadu and Gujarat see maximum GST registrants: Economic Survey 2017-18 | ANI

Preliminary analysis of the GST data reveals a 50% increase in no of indirect taxpayers: Economic Survey 2017-18

Rajya Sabha adjourned till 1 February | ANI

Supporting agriculture; stabilising GST, and recapitalisation should be focus of economic policy

Economic Survey predicts rise in export, private investment

India added 1.8 million new Individual Income tax filers post GST, demonetisation: Arvind Subramanian

GST revenues are doing well, witness 12% growth: Arvind Subramanian

Robust and broad-based signs of revival visible in economic activity, says Arvind Subramanian

Growth reviving after temporary decoupling: Arvind Subramanian

Economic Survey is a round-up of the year’s activity: Madan Sabnavis

The Economic Survey is nothing but a roundup of everything that has happened in the economy, says Madan Sabnavis, Chief Economist, CARE Ratings. However, the report is gathered at high frequency when it comes out on a quarterly basis. The Economic Survey is a comprehensive document that gives you economic data up to date but this is already known to the public.

The second part of the Survey is the ideology of the Chief Economic Advisor, Arvind Subramanian.  He will give his own view on how he looks at the economy and what should be done. It is prescriptive in nature and may not be followed by government at all. Subramanian may say fiscal prudence should be 3 percent. However, the Finance Minister Arun Jaitley may not take that into account while announcing the Budget. What Subramanian is saying is a theoretical point of view that is provided. 

I don’t expect anything from the Economic Survey. We get all the information from government and other sources. The Economic Survey is keeping it all together The Central Statistics Office (CSO) had said GDP of 6.5 percent is expected for the current year. The Survey will maintain that figure and not make any changes to it. We won’t know anything about the future of the economy from the Survey.

BJP Parliamentary Party Executive meeting at 2.30 pm today; NDA allies to meet at 3.30 pm

In the meanwhile, the BJP Parliamentary Party Executive meeting will take place today at 2.30 pm and another meeting of NDA allies at 3.30 pm, ANI reported

Vice-president M Venkaiah Naidu addresses joint sitting of Lok Sabha and Rajya Sabha

In his short address to a joint sititng of Lok Sabha and Rajya Sabha, Vice-president M Venkaiah Naidu said that the dream of India doesn't belong to one particular party or organisation, and that all parties must work together.

Kovind ends address, says parties must work together to bring simultaneious elections

President Kovind ended his joint address highlighting the importance of all parties to work together and the govt's fight against corruption. 

Kovind said, "A sustained debate is required on the subject of simultaneous elections and all political parties need to arrive at a consensus on this issue."

Govt increased minimum wage of labourers by more than 40 percent: Kovind

Kumbh Mela was included in ‘Intangible Cultural Heritage of Humanity' by UNESCO: Kovind

Govt started Start Up India, Stand Up India and Skill India to help the youth: Kovind

Government committed to strengthen, modernise school and higher education system: Kovind

'I hope the Triple Talaq Bill will be passed soon': Kovind | ANI

Work under Pradhanmantri Gram Sadak Yojana accelerated to bring everyone closer to development: Kovind

2.70 Lakh Common Service Centers have been set up across the nation: Kovind

Govt committed to double income of farmers by 2022: Ram Nath Kovind

Addressing a joint sitting of both Houses of the Parliament, President Ram Nath Kovind said that the govt is committed to double the farmers' income by 2022.

During his joint address to both Lok Sabha and Rajya Sabha, Kovind highlighted the achievements of the NDA government. He said that the govt approved a bill granting working woman paid maternity leave of 26 weeks.

He also said that India should pay tribute to Mahatma Gandhi on his 150th birth anniversary by making India completely clean.

President Ram Nath Kovind leaves for Parliament, will address joint sitting of Lok Sabha and Rajya Sabha

Modi asks parties to make full use of parliamentary committees and discuss budget | ANI

Modi arrives at Parliament, says Budget 2018 will fulfill everyone's aspirations

Speaking to the press outside the Parliament, Prime Minister Narendra Modi said that the current budget will fufill everyone's aspirations.

"India is on a growth path. All credit rating agencies have improved ratings for India," Modi said.

The prime minister also said that all parties should come together and support the Union Budget 2018. "The country is above the party," Modi said asking all parties to come together and discuss ways to how to extend the benefits of the budget to the people.

CEA Arvind Subramanian to address media at 1.30 pm today

Chief Economic Advisor Arvind Subramanian will present highlights of the Economic Survey 2018 around 1.30 pm today at a press conference at the National Media Centre in the national capital.

President Ram Nath Kovind to address joint sitting of Rajya Sabha and Lok Sabha today

The Budget Session of the Parliament will kick-off with President Ram Nath Kovind addressing a joint sitting of the Rajya Sabha and Lok Sabha. Kovind's address will be broadcast live on television as well as on Facebook.

Second part of Budget Session will resume on 5 March after recess on 9 Feb

Following a recess after 9 February, Parliament will meet again from 5 March to 6 April. After the recess, she said, there would be 23 sittings and 82 hours when more discussions on the functioning of various ministries were expected.

Economic Survey to be tabled today

The first leg of the session will be between 29 January and 9 February during which the government will present the economic survey on 29 January, followed by the Union Budget on 1 February.

First part of Budget Session to begin today

Lok Sabha Speaker Sumitra Mahajan said the House would have eight sittings in the first part of the budget session starting Monday, during which 19 out of a total of 36 hours would be devoted on the discussion on the vote of thanks to the President's address and the Union Budget for 2018-19.