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January 31, 2020

Economic Survey 2020 Highlights Quick Review (Pdf Download)

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Finance Minister Nirmala Sitharaman today (31st January 2020) tabled the Economic Survey 2020. The economic survey is an annual document of the finance ministry, which provides comprehensive details about the state of the Indian economy, and reviews the economic progress made and issues faced in the past year.

The 2 volume survey ( Volume I and Volume II), which was printed in LAVENDER Color (same as the colour of the new 100 rupee note), was prepared by Krishnamurthy Subramanian (Chief Economic Adviser)

Stating that the Indian Economy has bottomed out, the economic survey 2020 has projected India's economic growth at 6 per cent to 6.5 per cent in the next financial year. The government has estimated growth at 5% for 2019-20, which would be lowest in 11 years. 

The Theme of Economic Survey 2020 is "Enable markets, promote 'pro-business' policies and strengthen 'trust' in the economy". 

The survey suggests framework to enable ethical wealth creation in India, which will in turn propel growth and help India become a $5 trillion economy by 2025.

This survey gives a clear picture of the country's economic health and a sneak peek into the Budget 2020 to be by our finance minister tomorrow. Here are the major highlights of Economic Survey 2020. You can download PDF Version of these highlights from HERE.

Quick Review of Economic Survey 2020

  • Prepared by : Krishnamurthy Subramanian 
  • Color : Lavender
  • Theme : Enable markets, promote 'pro-business' policies and strengthen 'trust' in the economy.
  • India’s dominance as global economic power for three-fourths of economic history manifests by design.
  • Kautilya’s Arthashastra postulates the role of prices in an economy (Spengler, 1971).
  • Historically, Indian economy relied on the invisible hand of the market with the support of the hand of trust :
    • Invisible hand of the market reflected in openness in economic transactions.
    • Hand of trust appealed to ethical and philosophical dimensions.
  • Post-liberalisation, Indian economy supports both pillars of the economic model advocated in our traditionalthinking.
  • The survey illustrates enormous benefits accruing from enabling the invisible hand of the market.
  • Exponential rise in India’s GDP and GDP per capita post-liberalisation coincides with wealth generation.
  • Survey shows that the liberalized sectors grew significantly faster than the closed ones.
  • Need for the hand of trust to complement the invisible hand, illustrated by financial sector performanceduring 2011-13.
  • Survey posits that India’s aspiration to become a $5 trillion economy depends critically on : 
    • Strengthening the invisible hand of the market.
    • Supporting it with the hand of trust.
  • Strengthening the invisible hand by promoting pro-business policies to : 
    • Provide equal opportunities for new entrants.
    • Enable fair competition and ease doing business.
    • Eliminate policies unnecessarily undermining markets through government intervention.
    • Enable trade for job creation.
    • Efficiently scale up the banking sector.
  • Introducing the idea of trust as a public good, which gets enhanced with greater use.
  • The survey suggests that  policies must  empower transparency and  effective enforcement using  data  and technology.

Key Highlights of Economic Survey 2020

  • Economic Survey 2020 talked about a new phrase called ‘Thalinomics’ which is the economy of a plate of food in India. It says that food plates are becoming more affordable in India now indicated improvement in the welfare of the common man. Survey said that Thali price moderation led to Rs 10,887 gain per household per year. The survey claimed that a whopping 2.62 crore jobs were created in India during 2011-12 to 2017-18.
  • India's economic growth is expected to "strongly rebound" to 6-6.5 per cent in 2020-21 from 5 per cent estimated in the current fiscal. The Survey said there are tentative signs of bottoming out of slowdown in manufacturing activity and global trade, which will have a positive impact on growth in the next fiscal.
  • Considering the urgent priority of the government to revive growth in the economy, the fiscal deficit target may have to be relaxed for the current year, the survey said.The Economic Survey 2019-20 has proposed India can create well-paid four crore jobs by 2025 and eight crore by 2030 by integrating “assemble in India for the world” into government’s Make in India initiative and exporting network products that can give substantial push to India’s target of becoming a $5 trillion economy.India's GDP growth is neither overestimated nor underestimated and the concerns on data are unfounded. It said that cross-country comparisons are fraught with risks of incorrect inference due to various confounding factors that stem from such inherent differences.
  • Government interventions like debt waiver or food subsidies end up creating distortions in the functioning of the free market. The Survey says that debt waiver scehems disrupt credit culture and disrupt formal credit flow to the very farmers it aims to benefit.
  • The country needed to spend $1.4 trillion on infrastructure to remove the constraints in growth, as power shortages, inadequate transport and poor connectivity affects overall growth performance, and to achieve a GDP of $5 trillion by 2024-25.
  • India's balance of payments position improved to USD 433.7 billion by September 2019 from USD 412.9 billion of forex reserves in March 2019, says Economic survey 2019-20. India's foreign reserves are comfortably placed at USD 461.2 billion as on 10th January 2020. Further, the external debt levels remained low at 20.1 per cent of GDP by the end of September 2019.
  • The Economic Survey has pinned its hope on uptick in growth of cumulative GST collections in October 2019 and November-December to contain fiscal deficit at the budgeted 3.3 per cent for FY2020.
  • The Survey suggested providing ESOPs to public sector bank employees to enable them to become owners in the banks. Employee stock ownership plans (ESOPs) will incentivise the bank employees to embrace risk-taking and innovation continually, it said.
  • It takes more documents to open a restaurant in Delhi as compared to documents needed for a license to procure new arms and major fireworks, says the Economic Survey for 2019-20.
  • Funding of the Rs 102 lakh crore National infrastructure pipeline recently unveiled by the Indian government “would be a challenge”, the Economic Survey for 2019-20 said.
  • The survey cited a new selloff mode. In the model, the government can transfer its stake in the listed CPSEs to a separate corporate entity which would be managed by an independent board and would be mandated to divest the government stake in these CPSEs over a period of time.
  • As per the pre-Budget survey, services exports have outperformed goods exports in the recent years, due to which India's share in the world's commercial services exports has risen steadily over the past decade to reach 3.5 per cent in 2018, twice the share in world's merchandise exports at 1.7 per cent.
  • Indian companies garnered nearly Rs 74,000 crore through public issuance of equity and debt during April-December this fiscal, a 66 per cent jump from the preceding financial year, with rights issue emerging as the most preferred route for financing business needs. Companies had raised Rs 44,355 crore in the April-December period of 2018-19.
  • In India, affordability of vegetarian 'thalis' improved more compared to non-vegetarian 'thalis' in last 13 years. Affordability of vegetarian 'thalis' improved by 29 per cent while that for non-vegetarian 'thalis' by 18 per cent from 2006-07 to 2019-20. As a result, an average household of five individuals that eats two vegetarian 'thalis' a day, gained around Rs 10,887, on average per year, while a non-vegetarian household gained Rs 11,787, on average per year.
  • The Survey pointed out high drop out rates at various levels of schooling and lack of affordability in higher education as areas of concern. The Survey emphasised that Samagra Shiksha 2018-19, was launched to envisage school education as a continuation from pre-school to senior secondary level to provide access to education to all.
  • According to the Survey, foreign tourist arrivals to India on e-visas, which are available for 169 countries, have increased from 4.45 lakh in 2015 to 23.69 lakh in 2018 and stood at 21.75 lakh in January-October 2019, recording nearly 21 per cent year-on-year growth in the tourism sector.
  • India's mineral output has witnessed a notable turnaround on account of reform measures initiated by the government.

January 29, 2020

Padma Awardees 2020 Full List (Padma Vibhushan, Padma Bhushan and Padma Shri) Quick Review - PDF Download

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The Union Government has recently announced Padma Awards for the year 2020. Former Union Ministers Arun Jaitley, Sushma Swaraj and George Fenandes were posthumously honored with the 2nd Highest Civilian honor of India, Padma Vibhushan. Renowned Olympic boxing champion Mary Kom, Former Mauritius prime minister Anerood Jugnauth have also been honoured with the Padma bhushan.

Former defence minister Manohar Parriker will be posthumously honored with Padma Bhushan along with Olympian badminton player P V Sindhu.

Zaheer Khan (Cricketer), Rani Rampal (Hockey player), Jitu Rai (Shooter) and famous Cine personalities Karan Johar, Ekta Kapoor, Kangana Ranaut, Adnan Sami, Suresh Wadkar are among 118 who have been awarded Padma Shri. Here is the complete winners list. You can download pdf version of this list from HERE. Happy Reading :)

Padma Awards 2020 in Numbers (Important)

  • Total approved Padma Awards for the year 2020 : 141
  • Padma Vibhushan : 7
  • Padma Bhushan : 16
  • Padma Shri : 118
  • Women : 34
  • Posthumous : 12
  • Foreigners/NRI/PIO/OCI : 18
  • Duo Cases (* in a duo case, the award is counted as one) : 4

Complete List of Padma Awardees 2020


  1. Arun Jaitley (Posthumous) ---Public Affairs ---Delhi
  2. Sushma Swaraj (Posthumous) ---Public Affairs ---Delhi
  3. George Fernandes (Posthumous) ---Public Affairs ---Bihar
  4. Chhannulal Mishra ---Art ---Uttar Pradesh
  5. M. C. Mary Kom ---Sports ---Manipur
  6. Sir Anerood Jugnauth GCSK ---Public Affairs ---Mauritius
  7. Sri Vishveshateertha Swamiji Sri Pejavara Adhokhaja Matha Udupi (Posthumous) --Others-Spiritualism ---Karnataka


  1. Manohar Gopalkrishna Prabhu Parrikar (Posthumous) ---Public Affairs ---Goa
  2. Syed Muazzem Ali (Posthumous) ---Public Affairs ---Bangladesh
  3. Ajoy Chakravorty ---Art ---West Bengal
  4. Anand Mahindra ---Trade and Industry ---Maharashtra
  5. Anil Prakash Joshi ---Social Work ---Uttarakhand
  6. Balkrishna Doshi ---Others-Architecture ---Gujarat
  7. Dr. Tsering Landol ---Medicine ---Ladakh
  8. Krishnammal Jagannathan ---Social Work ---Tamil Nadu
  9. M. Mumtaz Ali (Sri M) ---Others-Spiritualism ---Kerala
  10. Manoj Das ---Literature and Education ---Puducherry
  11. Muzaffar Hussain Baig ---Public Affairs ---Jammu and Kashmir
  12. Neelakanta Ramakrishna Madhava Menon (Posthumous) ---Public Affairs ---Kerala
  13. P. V. Sindhu ---Sports ---Telangana
  14. Prof. Jagdish Sheth ---Literature and Education ---USA
  15. S. C. Jamir ---Public Affairs ---Nagaland
  16. Venu Srinivasan ---Trade and Industry ---Tamil Nadu


  1. Abdul Jabbar (Posthumous) --Social Work ---Madhya Pradesh
  2. Adnan Sami ---Art ---Maharashtra
  3. Agus Indra Udayana ---Social Work ---Indonesia
  4. Barry Gardiner ---Public Affairs ---United Kingdom
  5. Batakrushna Sahoo ---Others-Animal Husbandry ---Odisha
  6. Benichandra Jamatia ---Literature and Education ---Tripura
  7. Bharat Goenka ---Trade and Industry ---Karnataka
  8. Bimal Kumar Jain ---Social Work ---Bihar
  9. Binapani Mohanty ---Literature and Education ---Odisha
  10. Bob Blackman ---Public Affairs ---United Kingdom
  11. C. Kamlova ---Literature and Education ---Mizoram
  12. Chewang Motup Goba ---Trade and Industry ---Ladakh
  13. Chintala Venkat Reddy ---Others-Agriculture ---Telangana
  14. Dalavai Chalapathi Rao ---Art ---Andhra Pradesh
  15. Daya Prakash Sinha ---Art ---Uttar Pradesh
  16. Dr. Arunoday Mondal ---Medicine ---West Bengal
  17. Dr. Bangalore Gangadhar ---Medicine ---Karnataka
  18. Dr. Damayanti Beshra ---Literature and Education ---Odisha
  19. Dr. Digambar Behera ---Medicine ---Chandigarh
  20. Dr. Gurdip Singh ---Medicine ---Gujarat
  21. Dr. Kushal Konwar Sarma ---Medicine ---Assam
  22. Dr. Leela Joshi ---Medicine ---Madhya Pradesh
  23. Dr. Narindar Nath Khanna ---Medicine ---Uttar Pradesh
  24. Dr. Padmavathy Bandopadhyay ---Medicine ---Uttar Pradesh
  25. Dr. Prasanta Kumar Pattanaik ---Literature and Education ---USA
  26. Dr. Prithwindra Mukherjee ---Literature and Education ---France
  27. Dr. Purushottam Dadheech ---Art ---Madhya Pradesh
  28. Dr. Raman Gangakhedkar ---Science and Engineering ---Maharashtra
  29. Dr. Ravi Kannan ---R. Medicine ---Assam
  30. Dr. Romesh Tekchand Wadhwani ---Trade and Industry ---USA
  31. Dr. Sandra Desa Souza ---Medicine ---Maharashtra
  32. Dr. Shanti Roy ---Medicine ---Bihar
  33. Dr. Sushovan Banerjee ---Medicine ---West Bengal
  34. Dr. Tetsu Nakamura (Posthumous) ---Social Work ---Afghanistan
  35. Dr. Vajira Chitrasena ---Art ---Sri Lanka
  36. Dr. Yogi Aeron ---Medicine ---Uttarakhand
  37. Ekta Kapoor ---Art ---Maharashtra
  38. Enamul Haque ---Others-Archaeology ---Bangladesh
  39. Gafurbhai M. Bilakhia ---Trade and Industry ---Gujarat
  40. Gloria Arieira ---Literature and Education ---Brazil
  41. Guru Shashadhar Acharya ---Art ---Jharkhand
  42. H. M. Desai ---Literature and Education ---Gujarat
  43. Harekala Hajabba ---Social Work ---Karnataka
  44. Harish Chandra Verma ---Science and Engineering ---Uttar Pradesh
  45. Himmata Ram Bhambhu ---Social Work ---Rajasthan
  46. Indira P. P. Bora ---Art ---Assam
  47. Jagdish Lal Ahuja --- Social Work --- Punjab
  48. Jai Prakash Agarwal ---Trade and Industry ---Delhi
  49. Javed Ahmad Tak ---Social Work ---Jammu and Kashmir
  50. Jitu Rai ---Sports ---Uttar Pradesh
  51. Jogendra Nath Phukan ---Literature and Education ---Assam
  52. K. V. Sampath Kumar & Vidushi Jayalakshmi K.S. (Duo)* ---Literature and Education-Journalism ---Karnataka
  53. Kalee Shabi Mahaboob & Sheik Mahaboob Subani (Duo)* ---Art ---Tamil Nadu
  54. Kalyan Singh Rawat ---Social Work ---Uttarakhand
  55. Kangana Ranaut ---Art ---Maharashtra
  56. Karan Johar ---Art ---Maharashtra
  57. Kattungal Subramaniam Manilal ---Science and Engineering ---Kerala
  58. Kazi Masum Akhtar ---Literature and Education ---West Bengal
  59. Khan Zaheerkhan Bakhtiyarkhan ---Sports ---Maharashtra
  60. Lalitha & Saroja Chidambaram (Duo)* ---Art ---Tamil Nadu
  61. Lia Diskin ---Social Work ---Brazil
  62. Lil Bahadur Chettri ---Literature and Education ---Assam
  63. M. K. Kunjol ---Social Work ---Kerala
  64. M. P. Ganesh ---Sports ---Karnataka
  65. Madan Singh Chauhan ---Art ---Chhattisgarh
  66. Madhu Mansuri Hasmukh ---Art ---Jharkhand
  67. Manilal Nag ---Art ---West Bengal
  68. Manmohan Mahapatra (Posthumous) ---Art ---Odisha
  69. Manohar Devadoss ---Art ---Tamil Nadu
  70. Meenakshi Jain ---Literature and Education ---Delhi
  71. Mitrabhanu Gountia ---Art ---Odisha
  72. Mohammed Sharif ---Social Work ---Uttar Pradesh
  73. Moozhikkal Pankajakshi ---Art ---Kerala
  74. Munna Master ---Art ---Rajasthan
  75. N. Chandrasekharan Nair ---Literature and Education ---Kerala
  76. Narayan J. Joshi Karayal ---Literature and Education ---Gujarat
  77. Naveen Khanna ---Science and Engineering ---Delhi
  78. Nemnath Jain ---Trade and Industry ---Madhya Pradesh
  79. Oinam Bembem Devi ---Sports ---Manipur
  80. Pawar Popatrao Bhaguji ---Social Work ---Maharashtra
  81. Pradeep Thalappil ---Science and Engineering ---Tamil Nadu
  82. Prem Watsa ---Trade and Industry ---Canada
  83. Prof. Abhiraj Rajendra Mishra ---Literature and Education ---Himachal Pradesh
  84. Prof. Indra Dassanayake (Posthumous) ---Literature and Education ---Sri Lanka
  85. Pu Lalbiakthanga Pachuau ---Literature and Education-Journalism ---Mizoram
  86. Radhammohan & Sabarmatee (Duo)* ---Others-Agriculture ---Odisha
  87. Rahibai Soma Popere ---Others-Agriculture ---Maharashtra
  88. Ramjee Singh ---Social Work ---Bihar
  89. Rani Rampal ---Sports ---Haryana
  90. Robert Thurman ---Literature and Education ---USA
  91. S. P. Kothari ---Literature and Education ---USA
  92. S. Ramakrishnan ---Social Work ---Tamil Nadu
  93. Sanjeev Bikhchandani ---Trade and Industry ---Uttar Pradesh
  94. Sarita Joshi ---Art ---Maharashtra
  95. Sathyanarayan Mundayoor ---Social Work ---Arunachal Pradesh
  96. Sayed Mehboob Shah Qadri alias Sayedbhai ---Social Work ---Maharashtra
  97. Shahbuddin Rathod ---Literature and Education ---Gujarat
  98. Shanti Jain ---Art ---Bihar
  99. Shiv Datt Nirmohi Literature ---and Education ---Jammu and Kashmir
  100. Shyam Sunder Sharma ---Art ---Bihar
  101. Sudhir Jain ---Science and Engineering ---Gujarat
  102. Sujoy K. Guha ---Science and Engineering ---Bihar
  103. Sundaram Verma ---Social Work ---Rajasthan
  104. Suresh Wadkar ---Art ---Maharashtra
  105. Tarundeep Rai ---Sports ---Sikkim
  106. Trinity Saioo ---Others-Agriculture ---Meghalaya
  107. Tulasi Gowda ---Social Work ---Karnataka
  108. Usha Chaumar ---Social Work ---Rajasthan
  109. Ustad Anwar Khan Mangniyar ---Art ---Rajasthan
  110. Utsav Charan Das ---Art ---Odisha
  111. V. K. Munusamy Krishnapakthar ---Art ---Puducherry
  112. Vashishtha Narayan Singh (Posthumous) ---Science and Engineering ---Bihar
  113. Vijay Sankeshwar ---Trade and Industry ---Karnataka
  114. Vijayasarathi Sribhashyam ---Literature and Education ---Telangana
  115. Yadla Gopalarao ---Art ---Andhra Pradesh
  116. Yazdi Naoshirwan Karanjia ---Art ---Gujarat
  117. Yeshe Dorjee Thongchi ---Literature and Education ---Arunachal Pradesh
  118. Yogesh Praveen ---Literature and Education ---Uttar Pradesh
Download PDF Version of Padma Awardees 2020 Full List from HERE

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January 24, 2020

Jair Bolsonaro (Brazil President) is the Chief Guest of 71st Republic Day 2020

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The President of Brazil, Jair Bolsonaro is on a 4 day visit to India. This is his 1st ever visit to our country. During this visit, he will be attending the prestigious 71st Republic Day Parade of India on 26th January 2020 as the Chief Guest. He will be accompanied by 8 ministers, four members of the Brazilian Parliament, senior officials and a large business delegation. Prime Minister Narendra Modi had invited him to India during the BRICS Summit in November 2019. Bolsonaro has been the 38th president of Brazil since 1 January 2019.

The main aim of his visit to India is to "re-energise" the bilateral strategic partnership by boosting trade and investment, and deepening cooperation in key sectors such as defence and energy. He will also hold talks with our Prime Minister Narendra Modi and President Ram Nath Kovind. A total of 15 MOUs along with the investment protection and facilitation treaty will be signed during this visit.

Important Note : This will be the 3rd time that a Brazilian President will be the Chief Guest at the Republic Day. Last time in the year 2004, then Brazilian president Luiz InĂ¡cio Lula da Silva has attended as the Chief Guest of our Republic Day Parade. Last year (2019), President of South Africa Cyril Ramaphosa was the Chief Guest. Before that, in the year 2018, there were 10 Guests (Heads of ASEAN States). 

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January 22, 2020

New MD & CEOs for SBI, BoB, Bank of India and Canara Bank

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The Indian government has announced the appointments of new Managing Director and Chief Executive Officers (MD & CEO) for 4 Public Sector Banks namely Canara Bank, Bank of Baroda, Bank of India and State Bank of India (SBI).

State Bank of India (SBI) : Challa Sreenivasulu Setty has been appointed as the new Managing Director of State Bank of India (SBI) for a period of 3 years, which is extendable for another two years. He is currently working as the Deputy Managing Director of the bank.

Canara Bank : L V Prabhakar has been appointed as the new MD & CEO of Canara Bank which is going to be amalgamated with Syndicate Bank. He will be the bank's MD & CEO with effect from 1st February 2020 to 31st December 2022. He is going to replace R A Sankar Narayan. He is currently working as the executive director of Punjab National Bank (PNB).

Bank of Baroda (BoB) : Sanjiv Chadha has been appointed as the new MD & CEO of Bank of Baroda for a 3 year term. He is going to replace P S Jayakumar, who left the office in October 2019. He is currently working as the MD & CEO of SBI Capital Markets.

Bank of India (BoI)
: Atanu Kumar Das (AK Das) who is currently working as the Executive Director of Bank of India (BoI) has been elevated to the post of MD & CEO. He will head the bank for three years from date of assuming office. He is going to replace Dinabandhu Mohapatra who demitted office in June 2019.

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