Multiple research studies have been conducted to find a definite cause for such unevenness in outcomes but a satisfactory explanation has not been found.
Published Jul 23, 2024 | 8:55 AM ⚊ Updated Jul 23, 2024 | 6:20 PM
Women engaged in MGNREGA work. (Creative Commons)
The Economic Survey of 2023-2024, tabled in Parliament on Monday, 22 July, called for a paradigm shift in addressing the rising mental health issues in the country.
Finance Minister Nirmala Sitharaman presented the Economic Survey 2023-24 in the Lok Sabha. The Economic Survey is an annual document presented by the government ahead of the Union Budget to review the state of the economy.
The Budget is slated to be presented on Tuesday, 23 July.
Here’s a look at some of the highlights from the Economic Survey:
With the Economic Survey flagging a rise in mental health issues among Indians and calling for a paradigm shift on how to address the problem, experts said it is an unaddressed health crisis in India.
They called for increasing accessibility to mental health resources, raising awareness, reducing stigma and developing robust support systems to tackle the issue while highlighting the need to find comprehensive solutions to contributing factors such as work pressure and societal expectations, among others.
If India has to reap the gains of its demographic dividend, the government, and the public at large need to be conscious of healthy eating.
Raising concerns over growing obesity and an increase in the consumption of highly processed foods laden with sugars and fat, the Economic Survey blamed unhealthy diets for 54 percent of the total disease burden in India.
Obesity presents a “concerning situation” and preventive measures must be taken to enable citizens to have a healthier lifestyle, it said, adding it “is emerging as a serious concern among India’s adult population”.
Mahatma Gandhi National Rural Employment Guarantee Act, 2005, work demand does not directly correlate with increased rural distress at a micro-level.
Data from the Financial Year 2024 showed that states like Kerala and Tamil Nadu, with relatively less poor population, use more funds under the flagship rural employment scheme, than states like poorer states such as Bihar and Uttar Pradesh.
Multiple research studies have been conducted to find a definite cause for such unevenness in outcomes but a satisfactory explanation has not been found, said the survey.
Banks should resist the temptation to pursue short-term profits at the expense of the customer. As corporate profits are booming, the net interest margins of Indian banks have risen to a multi-year high, the Economic Survey said, adding that profitable banks lend more.
“To sustain the good times, it is important not to forget the lessons of the last financial cycle downturn. The banking industry must aim to lengthen the gap between two NPA cycles. It should also resist the temptation to pursue short-term profits at the expense of the customer,” it said.
The government’s flagship Ayushman Bharat health insurance scheme has not only lowered the burden of healthcare costs on families but is also helping them avoid falling into debt due to catastrophic expenditure on treatment, according to the Economic Survey.
Citing the Health Ministry’s estimates, the survey report 2023-2024 highlighted that the total cost of treatment would have been 1.5-2 times higher if the beneficiary had availed the same treatment on their own outside the ambit of AB PM-JAY.
About 673 crore passengers took train journeys in 2023-24, which is about 5.2 per cent more than the previous financial year, according to the Economic Survey.
The revenue-earning freight in FY24, excluding the Konkan Railway Corporation Limited, also witnessed an increase of 5.3 per cent from the previous year, the survey showed.
Amidst strained ties with China, the pre-budget Economic Survey on Monday made a strong case for seeking foreign direct investments (FDI) from Beijing to boost local manufacturing and tap the export market.
As the US and Europe are shifting their immediate sourcing away from China, it is more effective to have Chinese companies invest in India and then export the products to these markets rather than importing from the neighbouring country, the Survey said.
India faces two choices to benefit from ‘China plus one strategy’ — it can integrate into China’s supply chain or promote FDI from China.
Talking about the Economic Survey, the Opposition Congress alleged that the Economic Survey released by the government presented a “cherry-picked” view of the economy and claimed that India is experiencing its “most precarious and difficult” economic situation in many years.
(Edited by Neena with PTI inputs)
(South First is now on WhatsApp and Telegram)
