Economic Survey 2023 Part 3: Agriculture, Industry, Services, External Trade, Digital Infrastructure

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Economic Survey 2023 Part 3
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
Agriculture & Food Management: From Food Security to Nutritional Security
Record Production of Foodgrains
MSP to Ensure Returns Over the Cost of Production
Enhanced Access to Agricultural Credit
Farm Mechanisation- Key to Improving Productivity
Chemical-free India: Organic and Natural Farming
Other Important Initiatives in Agriculture
Allied Sectors: Animal Husbandry, Dairying and Fisheries Catching up in Recent Years
Sahakar-Se- Samriddhi: From Cooperation to Prosperity
Food Processing Sector-The Sunrise Sector
Food Security- Social & Legal Commitment to the People of the Nation
Paramparagat Krishi Vikas Yojana (PKVY) and Mission Organic Value Chain Development for North Eastern Region (MOVCDNER) since 2015 through cluster/ Farmer Producer Organisations (FPOs) formation. PKVY Scheme is being implemented in a cluster mode (with min. 20 ha size).
Pradhan Mantri Fasal Bima Yojana (PMFBY) implemented on an ‘Area Approach’ basis.

Animal Husbandry Infrastructure Development Fund (AHIDF) worth ₹15,000 crore was launched in 2020. Under this scheme, the Central Government provides a 3 per cent interest subvention to the borrower and credit guarantees up to 25 per cent of total borrowing.
New National Cooperation Policy With the view to strengthening the cooperative movement in the country, deepening its reach to the grassroots, and promoting cooperative-based economic development, a New National Cooperation Policy is being formulated involving the relevant stakeholders such as experts of the cooperative sector, representatives from National/ State/ District/ Primary level cooperative societies, Secretaries (Cooperation) and Resident Commissioners from States/UTs, officers from Central Ministries/ Departments. The objective is to have a policy that unlocks the true potential of the Cooperation sector. In addition, the Government has also decided to introduce the Multi-State Co-operative Societies (Amendment) Bill, 2022. The Bill seeks to amend the Multi-State Co-operative Societies Act, 2002, to bring it in line with Part IXB of the Constitution and to strengthen the cooperative movement in the country by bringing in provisions relating to electoral reforms, strengthening governance and transparency, reforming the composition, meetings and membership of board; enabling the raising of funds by co-operative sector, strengthening monitoring mechanism, enhancing ‘Ease of doing business’, etc.
Industry: Steady Recovery
Demand Stimulus to Industrial Growth
Supply Response of Industry
Robust Growth in Bank Credit to Industry
Resilient FDI Inflow in Manufacturing Sector
Industry Groups and their Challenges
India’s Prospects as a Key Player in the Global Value Chain

Incentives to encourage semiconductor manufacturing in the US and India. One of the most notable policies is the United States’ Creating Helpful Incentives to Produce Semiconductors and Science Act, 2022 (CHIPS and Science Act, 2022). The legislation aims to catalyse investments in the domestic semiconductor manufacturing capacity of the US. The country produces about 10 per cent of the world’s semiconductors and relies heavily on East Asia to import chips.
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