employment

India’s Digital Economy set to drive nearly 20% of GDP by 2029-30

India's digital economy will contribute nearly one-fifth of the national income by 2029-30, surpassing agriculture and manufacturing in less than six years. With an 11.74% share in GDP in 2022-23 (INR 31.64 lakh crore or USD 402 billion), the digital economy has emerged as a key driver of economic growth. It employs 14.67 million workers (2.55% of the workforce) and is nearly five times more productive than the rest of the economy, according to the Ministry of Electronics & IT. India: Now t...

July 30, 2024 9:03 PM

Govt increases allocations for all social sectors in budget, including agriculture and employment

Finance Minister Nirmala Sitharaman addressed the parliament on Tuesday, responding to discussions on the recent budget. She emphasized significant increases in allocations for various social sector schemes compared to both the previous year and 2013-14. Sitharaman reported that the government's overall expenditure has grown to Rs 48.21 lakh crore, projecting a 7.3% increase over 2023-24 and an 8.5% rise over pre-actuals of 2023-24. In her address, the Finance Minister detailed the growth in s...