Key Points
Ahead of the Interim Budget announcement, the Finance Ministry has laid out four challenges confronting the Indian economy, including artificial intelligence's threat to services sector, the trade-off between energy security & economic growth and the availability of a skilled workforce...
This report titled "The Indian Economy: A Review" is different from the Economic Survey which is released a day prior to the announcement of the Budget..
Given that this is a vote-on-account budget, the full Economic Survey will be released before the full budget after the general elections due to take place in April-May 2024...
Mentioning the challenges confronting the Indian economy, the Finance Ministry noted that in an era of an increasingly integrated global economy, India's growth outlook also depends on the spillover effects of global developments and not just its domestic performance..
"The trade-off between energy security and economic growth versus energy transition is a multifaceted issue having various dimensions: geopolitical, technological, fiscal, economic and social, and the policy actions being pursued by individual countries impacting other economies," the report said.. Finally, the government also sees the availability of a talented and "appropriately" skilled workforce in the industry as a challenge to economic growth...
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