Latest news with #UnionMinistryofStatisticsandProgrammeImplementation
The Hindu
27-05-2025
- Business
- The Hindu
CEA bats for advancing land, labour reforms
Chief Economic Adviser V. Anantha Nageswaran on Tuesday underscored the need for India to view the crisis in global economy as an opportunity to introduce more reforms, especially land and labour. India's macroeconomic picture may be one of smooth sailing despite turbulent global waters. Yet the 'ongoing or brewing crisis' in global economy presents an opportunity to advance the cause of reforms in factor markets like land, labour and even intangible factor of production like knowledge, he told a Data User's Conference the NSO, Union Ministry of Statistics and Programme Implementation organised at the Indian School of Business here on Tuesday. Countries use crises as opportunities to surge ahead in prosperity and standards of living, said, seeking to highlight the growth opportunities emerging amid the China +1 production strategy of global firms. 'Right now, India's macro numbers paint a very promising picture. As per the Second Advanced estimates published by the National Statistics Office, the GDP real and nominal growth rates have been pegged at 6.5% and 9.9% respectively in 2024-25. This is the highest amount the major economies of the world,' he said. The conference was on the results of Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2023-24 and the Forward-Looking Survey on Private Sector Capital Expenditure (CAPEX) Investment Intentions. Noting granular data is crucial for building conviction for policy reform, Mr. Nageswaran said the findings of the two surveys provide insights into the state of the health of the private sector. Much remains to be done from that perspective, he said, adding how 'firms don't seem to be keen on opportunistic effects, which this survey defines as investment on new business activities expected to have more profitability or scope in the future.' An indication of this is meagre share of research and development in the provisional capex per enterprise. Large enterprises ought to pursue a medium to long term thinking beyond short term profitability, he said. Secretary to MoSPI Saurabh Garg highlighted enhancements in data dissemination through an upgraded portal featuring API access, interactive visualisations and strategic collaborations with academic and global partners. The conference was aimed to foster constructive dialogue between data producers and data users, facilitating knowledge exchange and showcasing India's rigorous data collection as a foundation for transformative policy reforms, the organisers said in a release. ISB Dean Madan Pillutla said in an era of advanced analytics, integrity of data is critical for building robust predictive models and deriving actionable insights.
The Hindu
17-05-2025
- Business
- The Hindu
Tamil Nadu records negative growth rate in agriculture and allied activities
Even as Tamil Nadu is gearing up for the upcoming Kuruvai cultivation season, it has experienced a negative growth rate in agriculture and allied activities during 2024-25, for the first time in eight years. Last year, the growth rate in real terms was minus 0.09%, according to a perusal of the data of the Gross State Value Added by economic activity for Tamil Nadu (advance estimates for the States). Assessed at constant prices (base year: 2011-12), the data were published on the website of the Union Ministry of Statistics and Programme Implementation two months ago. Ironically, it was during the year in question that the State had achieved a real economic growth rate of 9.69%, the highest for any State in the country, besides being the highest for Tamil Nadu in the past 10 years. YEAR VALUE** (₹ in lakh) GROWTH RATE (%) 2015-16 10091573 2.6 2016-17 9928662 -1.612 2017-18 11127061 12.07 2018-19 11849026 6.5 2019-20 12749166 7.6 2020-21 13321030 4.5 2021-22 14071150 5.6 2022-23 14423448 2.5 2023-24 14987009 3.9 2024-25 14972823 -0.09 Note: Drawn from the table of Gross State Value Added by economic activity for Tamil Nadu, as published on the website of Union Ministry of Statistics and Programme Implementation *Crops, livestock, forestry & logging, and fishing & aquaculture are covered **At constant (2011-12) prices Natural disasters The previous occasion of negative growth in agriculture and allied activities was during 2016-17, when the State registered minus 1.61%. It was then that Tamil Nadu was adversely hit by a spell of drought and the Vardah cyclone in December 2016. A document of the State Agriculture department for 2025-26 states that crop damage was caused in an area of 9.10 lakh acres due to natural disasters such as 'unseasonal heavy rain' in January 2025, Southwest Monsoon (June-September 2024), summer rain, and the Fengal cyclone in December during the Northeast Monsoon (October-December 2024). The State government had sanctioned an amount of ₹545.56 crore for extending input subsidy to 6.16 lakh farmers. An examination of the data on components of the agriculture and allied activity category — crops, livestock, forestry and logging, and fishing and aquaculture — would reveal that last year, there was a considerable fall in respect of crops, which had seen a growth rate of minus 5.93%. As a result, the overall growth figure of the category suffered. Ordinarily, the component of crops, on average, accounts for 40%, with livestock leading with over 50%. Last year, the figure of crops was 39%. As for crops, the growth rate was 9.5% in 2021-22 followed by 3.3% next year and 4.2% in 2023-24. Conscious of the challenges being faced by the farm sector, the inaugural Economic Survey, brought out by the State Planning Commission, talks of high dependence on monsoons, adverse impact of climate change, aging farming population, shrinking landholdings, and stagnant productivity. Apart from promoting climate-resilient agriculture, the Survey refers to the need for revision of food processing policy. As regards livestock, the authorities' prescription is to ensure prompt payment to farmers based on real-time testing of milk quality. Meanwhile, with two weeks to go for the completion of the water year 2024-25, the State has realised about 298.3 thousand million cubic feet (tmc ft) against the stipulation of 175.8 tmc ft, the excess being around 122 tmc ft. On Friday (May 16, 2025) morning, the water level of the Mettur dam, the lifeline of the Cauvery delta, stood at 108.18 ft (full level: 120 ft) with the storage being 75.85 tmc ft, against the capacity of 93.47 tmc ft.
