kalam.

in
 Economic Survey 2024-25
The Economics Survey 2024-25 was released on today i.e, 31st Jan 2025 by the Ministry
of Finance, typically published a day before the Union Budget. Created by the Economics
Division of the Department of Economic Affairs under the Chief Economic Advisor
guidance, it reviews the past 12 months and forecasts the upcoming year's economy.

Watch Complete Class:

Mini Mock Test:

superkalam.com
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
1. Social Welfare & Rural Development

● Pradhan Mantri Awas Yojana (PMAY): Extended to provide 3 crore new

houses, with a budget of ₹5.36 lakh crore.
● SVAMITVA Scheme: Issued 2.25 crore property cards, with 70 lakh cards
distributed in the last 6 months.
● PM Kisan Samman Nidhi: ₹41,000 crore disbursed to crores of farmers in
recent months.
● Dharti Aaba Tribal Village Utkarsh Campaign: ₹80,000 crore allocated for tribal
development.
● Ayushman Bharat: Health insurance of ₹5 lakh per year for 6 crore senior
citizens (70+ years old).
● Mudra Scheme: Loan limit increased from ₹10 lakh to ₹20 lakh for small
entrepreneurs.
● PM Vidyalakshmi Scheme: Financial aid for higher education; 1 crore youth
internships in top 500 companies.
● Pradhan Mantri Gram Sadak Yojana (PMGSY - Phase IV): ₹70,000 crore
allocated to connect 25,000 habitations.
● UDAN Scheme: 1.5 crore people have travelled by air under the regional
connectivity scheme.

2. Women Empowerment

● Nari Shakti Vandan Adhiniyam: Reservation for women in Lok Sabha and State
Assemblies.
● National Rural Livelihood Mission (NRLM): 91 lakh Self-Help Groups (SHGs)
empowering 10 crore women.
● Lakhpati Didi Yojana: 1.15 crore Lakhpati Didis, with 50 lakh new Lakhpati
Didis added in 6 months.

4
 ● Bima Sakhi Campaign: Insurance scheme expansion for women.
● Drone Didi Yojana: Women empowerment through drone technology in
agriculture.

3. Economic Development & Employment

● Eighth Pay Commission: Announced a salary revision for government

employees.
● Unified Pension Scheme: 50% assured pension for government employees.
● Startup & MSME Support:
○ 2 lakh crore package for youth skill development & employment.
○ 1 crore youth to get internships in the top 500 companies.
○ 1.5 lakh startups registered in India.
○ ₹1,000 crore venture capital fund for the space sector.
● PM-Suraj Yojana: Expanded to provide loans to backward sections &
sanitation workers.
● PM SVANidhi Yojana: Formal banking access and additional loans for street
vendors.

4. Education & Research

● National Education Policy (NEP): Focus on education in mother tongues and

exams in 13 Indian languages.
● Atal Tinkering Labs: Over 10,000 labs established in schools to foster
innovation.
● One Nation-One Subscription: Free access to international research materials.
● Nalanda University: New campus inaugurated.
● National Research Foundation: ₹50,000 crore outlay for research development.
● Vigyan Dhara Yojana: ₹10,000 crore for science & technology innovation.
● India AI Mission: National initiative for AI leadership.

5
 ● National Quantum Mission: Aims to position India among leading tech nations.
● BioE3 Policy: Boost to bio-manufacturing & green economy.

5. Infrastructure & Transport

● PM Gati Shakti National Master Plan: Accelerating infrastructure projects.

● Vadhavan Mega Port: ₹76,000 crore project among the world’s top 10 ports.
● Udhampur-Srinagar-Baramulla Rail Link: Kashmir to Kanyakumari railway
connectivity.
● Shinkun La Tunnel: the World’s highest tunnel for Ladakh connectivity.
● Electric Bus Initiative: 52,000 e-buses are planned at a cost of ₹8,000 crore.
● Metro Expansion:
○ India’s metro network crosses 1,000 km, making it 3rd largest globally.
○ New corridors in Delhi, Pune, Thane, Bengaluru.
● Ropeway Projects: 15 projects initiated for urban transport & tourism.

6. Digital & Financial Inclusion

● 5G & Digital India: Rapid expansion of digital infrastructure.

● UPI Expansion: 50% of global real-time transactions occur in India.
● ONDC Initiative: Digital commerce growth for small businesses.
● Cybersecurity Measures: India achieves Tier-1 rank in the Global
Cybersecurity Index.

7. Healthcare & Public Health

● Ayushman Bharat Arogya Mandirs: 1.75 lakh primary healthcare centres

established.

6
 ● U-WIN Portal: Digital tracking of pregnant women & children’s vaccinations (30
crore doses recorded).
● Cancer Care:
○ Cancer drugs are exempted from customs duty.
○ 9 crore women screened for cervical cancer.
● National TB Eradication Programme: Reduction in TB cases.
● 75,000 new medical seats are planned in the next 5 years.

8. Agriculture & Rural Development

● Agriculture Infrastructure Fund: Expanded to boost rural employment.

● National Mission on Oilseeds: Reducing dependency on edible oil imports.
● National Mission on Natural Farming: Encouraging sustainable agriculture.
● Fertilizer Subsidy Extension: Ensuring affordable DAP fertilizer for farmers.
● Integrated Aqua Parks: 11 fisheries hubs planned.
● Mission Mausam: ₹2,000 crore allocated for weather resilience &
climate-smart agriculture.

9. Water & Irrigation Projects

● Ken-Betwa Link Project: ₹44,000 crore for irrigation & drinking water in MP &
UP.
● National TB Eradication Programme: Water security in Rajasthan & MP.
● Polavaram Irrigation Project: ₹12,000 crore sanctioned for faster completion.

10. Cooperative Sector Development

● Tribhuvan Cooperative University: First cooperative university approved.

● International Year of Cooperatives (2025): India to play a major role.

7
11. Tribal Development

● PM-JANMAN Yojana: Focused on tribal empowerment.

● Eklavya Model Residential Schools: Over 1.25 lakh tribal children enrolled.
● Tribal Health Mission: 5 crore people screened for sickle cell disease.

12. North-East & Border Area Development

● Ashtalakshmi Mahotsav: First-ever North-East development festival.

● Vibrant Villages Programme: Development in border villages.
● Peace Agreements: Over 10 agreements were signed to bring insurgents into
the mainstream.

13. Defence & Security

● Make in India for Defence: Self-reliance in military production.

● Defence Industrial Corridor: Promoting defence start-ups & self-employment.
● Left-Wing Extremism (LWE) Decline: Districts affected by LWE reduced from
126 to 38.
● Modern Border Infrastructure:
○ Atal Tunnel, Sela Tunnel, and Sonamarg Tunnel improving strategic
access.

14. Global Relations & Diplomacy

● G20 Summit Success: The Delhi Declaration showcased India’s global

leadership.
● Six new embassies & four new consulates are being opened.
● Digital Public Infrastructure exports: India assisting nations in digital finance.
● India AI & space missions: Strengthening India's leadership in technology &
space exploration.

8
15. Environment & Climate Change

● PM Surya Ghar Muft Bijli Yojana: ₹75,000 crore investment in rooftop solar
energy.
● National Green Hydrogen Mission: ₹8 lakh crore investment, 6 lakh jobs.
● Vehicle Scrappage Policy: Encouraging eco-friendly automobile disposal.
● Ek Ped Maa ke Naam: Mass tree plantation campaign.

9
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
superkalam.com kalam.in
 Key terms and Keywords from Economic Survey: A Glossary

Monetary & Financial Sector Developments

● Gross Domestic Product (GDP) – The total value of goods and services
produced within a country in a year.
● Gross Value Added (GVA) – GDP minus net taxes; it reflects the actual
contribution of different sectors to the economy.
● Fiscal Deficit (FD) – The gap between the government's total expenditure and
total revenue (excluding borrowings).
● Revenue Deficit (RD) – When the government's revenue receipts are less than its
revenue expenditure.
● Primary Deficit (PD) – Fiscal deficit minus interest payments; shows the level of
borrowing required for non-interest spending.
● Monetary Policy – Central bank actions (like interest rates) to control money
supply and inflation.
● Monetary Policy Committee (MPC) – A committee of the RBI that decides
interest rates to control inflation.
● Repo Rate – The rate at which RBI lends to commercial banks.
● Reverse Repo Rate – The rate at which RBI borrows from commercial banks.
● Open Market Operations (OMO) – RBI’s buying and selling of government
securities to regulate liquidity.
● Statutory Liquidity Ratio (SLR) – The percentage of a bank’s net demand and
time liabilities that must be kept in liquid assets.
● Cash Reserve Ratio (CRR) – The proportion of bank deposits that must be kept
as reserves with RBI.
● Trade Policy Uncertainty (TPU) – Risks arising from unpredictable changes in
trade policies.
● Economic Policy Uncertainty Index – A measure of unpredictability in economic
policy decisions.

10
 ● Disinvestment – Selling government stakes in public sector enterprises to reduce
fiscal burden.
● National Monetisation Pipeline (NMP) – Leasing out government assets to raise
revenue without privatization.
● Sovereign Green Bonds (SGrBs) – Government bonds to finance
environmentally sustainable projects.
● Incremental Capital Output Ratio (ICOR) – The ratio of investment required to
generate one unit of GDP growth.
● Demographic Dividend – Economic growth potential due to a rising working-age
population.

External Sector

● Exports & Imports – The total value of goods and services traded across borders.
● Balance of Payments (BoP) - A record of all economic transactions between a
country and the rest of the world over a specific period of time.
● Current Account Deficit (CAD) – A current account deficit (CAD) is when a
country imports more than it exports
● Current Account Balance (CAB) – The difference between exports and imports,
including net income and transfers.
● Trade Deficit – When a country's imports exceed its exports.
● Foreign Exchange Reserves – A country’s holdings of foreign currencies, gold,
and SDRs to stabilize its economy.
● Foreign Direct Investment (FDI) – Investments made by foreign companies in
business operations within a country.
● Foreign Portfolio Investment (FPI) – Investment by foreign investors in stocks,
bonds, and other financial assets.
● Net Capital Flows – The net movement of capital in and out of a country.
● External Commercial Borrowings (ECBs) – Loans taken by Indian entities from
foreign lenders.
● NRI Deposits – Funds deposited by Non-Resident Indians (NRIs) in Indian banks.
● Remittances – Money sent back home by Indians working abroad.

11
 ● Exchange Rate Movements – Fluctuations in the value of the Indian Rupee
against foreign currencies.
● Nominal Effective Exchange Rate (NEER) – A weighted index of the Rupee’s
exchange rate against a basket of currencies.
● Real Effective Exchange Rate (REER) – NEER adjusted for inflation differences
with trade partners.
● Tariff & Non-Tariff Barriers (NTBs) – Taxes and regulations that impact
international trade.
● Free Trade Agreements (FTA) – Agreements that reduce trade barriers between
countries.
● Regional Comprehensive Economic Partnership (RCEP) – A trade agreement
involving ASEAN and partners.
● Trade Diversification – Expanding trade across different markets to reduce
dependence on specific regions.
● Global Supply Chains – The worldwide network of production and distribution.
● Red Sea & Hormuz Strait Trade Disruptions – Geopolitical issues affecting
maritime trade routes.
● E-commerce Exports – Online sale of Indian goods and services to foreign
markets.
● Sovereign Government Securities in Global Bond Indices – Inclusion of Indian
government bonds in global indices, affecting investor sentiment.

Prices & Inflation

● Inflation – The general rise in prices of goods and services over time, reducing
purchasing power.
● Retail Inflation – Inflation is measured at the consumer level using the Consumer
Price Index (CPI).
● Wholesale Inflation – Inflation is measured at the wholesale level using the
Wholesale Price Index (WPI).
● Headline Inflation – The total inflation in an economy, including all commodities.
● Core Inflation – Inflation excludes food and fuel prices, which tend to be volatile.

12
 ● Consumer Price Index (CPI) – A measure of price changes in a basket of
consumer goods and services.
● Consumer Food Price Index (CFPI) – A sub-component of CPI measuring
inflation in food prices.
● Wholesale Price Index (WPI) – A measure of price changes at the wholesale
level, before retail pricing.
● Food Inflation – Inflation is specifically related to the price increase of food items.
● Fuel Inflation – Inflation caused by rising fuel prices affecting transportation and
production costs.
● Supply Chain Disruptions – Interruptions in production and distribution networks
that increase costs.
● Global Commodity Prices – Prices of goods like crude oil, metals, and food
grains in international markets.
● Price Stabilization Fund (PSF) – A government fund to stabilize volatile prices of
essential commodities.
● Buffer Stock – A reserve of essential commodities like food grains to control
inflation.
● Stock Limits – Government-imposed limits on how much of a commodity traders
can store to prevent hoarding.
● Nominal Inflation – Inflation measured without adjusting for other economic
factors.
● Real Inflation – Inflation adjusted for factors like purchasing power and income
levels.
● Deflation – A decrease in the general price level of goods and services, opposite
of inflation
● Tomato, Onion, Potato (TOP) Inflation – Price fluctuations in these essential
vegetables affect overall inflation.

Investment & Infrastructure

● Capital Expenditure (Capex) – Government spending on physical assets like

roads, railways, and power.

13
● National Infrastructure Pipeline (NIP) – A long-term project investment plan to
boost infrastructure development in India.
● Viksit Bharat@2047 – A vision for India’s economic and infrastructure
transformation by 2047.
● Public-Private Partnership (PPP) – A collaboration between government and
private entities for infrastructure development.
● National Monetisation Pipeline (NMP) – A framework for leasing government
assets to private players to raise funds.
● PM Gati Shakti Plan – An integrated infrastructure development plan aimed at
improving multimodal connectivity.
● Infrastructure Investment Trusts (InvITs) – A financial instrument allowing
investments in infrastructure projects.
● Build-Operate-Transfer (BOT) Model – A PPP model where private firms build
infrastructure and operate it for a fixed period before transferring ownership to the
government.
● Hybrid Annuity Model (HAM) – A funding model for highway projects where both
government and private players share costs.
● Toll-Operate-Transfer (TOT) Model – A model where the private sector takes
over existing roads, operates them and collects toll revenue.
● Brownfield & Greenfield Projects – Brownfield projects upgrade existing
infrastructure, while greenfield projects build new facilities from scratch.
● Logistics Performance Index (LPI) – A ranking measuring a country’s logistics
efficiency by the World Bank.
● Multi-modal Transport System – An integrated transport system combining road,
rail, air, and waterways.
● Renewable Energy Infrastructure – Investment in solar, wind, and green
hydrogen projects.
● Disaster-Resilient Urbanization – Planning cities to withstand climate and
disaster risks.
● Affordable Housing Projects – Infrastructure initiatives like PMAY to provide
housing for all.

14
 ● Smart Cities Mission – A project aimed at urban modernization and sustainable
infrastructure.
● Swadesh Darshan & PRASHAD Schemes – Tourism infrastructure development
initiatives.

Industry

● Ease of Doing Business (EoDB) – Government initiatives to simplify business

regulations and improve investment climate.
● Production-Linked Incentive (PLI) Scheme – Incentives provided to boost
domestic manufacturing and reduce import dependency.
● Core Industries – Key sectors like coal, crude oil, natural gas, refinery products,
fertilizers, steel, cement, and electricity that drive industrial growth.
● Capital Goods Industry – Industries producing machinery and equipment used in
manufacturing.
● Micro, Small & Medium Enterprises (MSMEs) – Businesses classified based on
investment and turnover, crucial for employment and industrial output.
● Labour Market Flexibility – Policies aimed at reforming labour laws to attract
investment and boost employment.
● Green Industrial Practices – Sustainable and environment-friendly manufacturing
approaches.
● Supply Chain Resilience – Strategies to mitigate disruptions in industrial
production and logistics.
● Industrial Corridors – Development of planned economic regions like the
Delhi-Mumbai Industrial Corridor (DMIC).

Services

● Services-led Growth – The trend of economic growth driven by service industries

like IT, banking, and healthcare.
● Global Services PMI (Purchasing Managers' Index) – A key indicator that tracks
global services sector activity.
● Financial, Real Estate & Professional Services (FREPS) – A category covering
banking, insurance, real estate, and business consultancy services.

15
 ● FinTech & Digital Payments – Financial technology services like UPI, blockchain,
and digital wallets.
● Open Network for Digital Commerce (ONDC) – A government-backed initiative
to democratize e-commerce and digital trade.
● Logistics Services – Infrastructure and technology-driven improvements in
transport, warehousing, and supply chains.
● Servicification of Industry – The increasing integration of services like AI, cloud
computing, and automation in traditional industries.

Agriculture

● Minimum Support Price (MSP) – The price at which the government purchases
crops from farmers to ensure fair income.
● Pradhan Mantri Fasal Bima Yojana (PMFBY) – Crop insurance scheme providing
financial support against losses.
● Rashtriya Krishi Vikas Yojana (RKVY) – A scheme to promote agricultural
development and modernization.
● Krishi UDAN – A scheme to improve air cargo transportation for perishable
agricultural goods.
● e-NAM (Electronic National Agriculture Market) – A digital trading platform for
agricultural commodities.
● Agri-Infrastructure Fund – A fund for building post-harvest and supply chain
infrastructure.
● Micro-irrigation – Efficient water-use techniques like drip and sprinkler irrigation.
● Horticulture Development – Boosting cultivation of fruits, vegetables, and
medicinal plants.
● Fertilizer Subsidy – Government support to reduce the cost of fertilizers for
farmers.
● Kisan Rin Portal – An online system for tracking agricultural loans and credit
schemes.

16
Climate & Environment

● Common but Differentiated Responsibilities (CBDR) – A principle recognizing

that while all countries must combat climate change, developed nations have
greater responsibility.
● Net Zero Carbon Emissions – A goal to balance greenhouse gas emissions with
removal efforts.
● Lifestyle for Environment (LiFE) Initiative – A movement promoting sustainable
living and reducing environmental impact.
● Circular Economy – A system focused on reducing waste, reusing materials, and
sustainable resource use.
● Climate Resilience – Strengthening infrastructure and communities to withstand
climate-related shocks.
● National Mission on Sustainable Habitat (NMSH) – A government initiative for
climate-resilient urban development.
● Atal Mission for Rejuvenation and Urban Transformation (AMRUT) – An urban
renewal initiative focusing on water conservation and green infrastructure.
● Carbon Pricing & Green Taxation – Economic policies to incentivize low-carbon
growth.

Social Sector

● Inclusive Growth – Economic growth that ensures equitable access to

opportunities and benefits for all.
● Human Development Index (HDI) – A measure of a country’s development
based on health, education, and income.
● Direct Benefit Transfer (DBT) – A system to transfer subsidies and benefits
directly to beneficiaries’ bank accounts.
● Foundational Literacy & Numeracy (FLN) – Basic reading, writing, and numeracy
skills for primary education.
● Social & Emotional Learning (SEL) – Programs integrating emotional intelligence
and life skills in education.

17
Employment & Skill Development

● Labour Force Participation Rate (LFPR) – The percentage of the working-age

population that is either employed or actively seeking employment.
● Worker-Population Ratio (WPR) – The percentage of the total population that is
employed.
● Unemployment Rate (UR) – The percentage of the labour force that is
unemployed but actively seeking work.
● Periodic Labour Force Survey (PLFS) – An annual survey conducted by NSO to
track employment and unemployment trends.
● Formalisation of Workforce – The shift of workers from the informal to the formal
sector, ensuring better wages and social security.
● Gig Economy – A labour market characterized by short-term contracts or
freelance work instead of permanent jobs.
● Platform-Based Employment – Jobs that are facilitated through digital platforms
such as ride-hailing and food delivery services.
● Skill India Digital Hub (SIDH) – A digital platform providing access to skill
development courses.
● Sector Skill Councils (SSCs) – Industry-driven organizations responsible for
identifying skill gaps and designing training programs.
● Migration & Mobility Partnership Agreements (MMPAs) – International
agreements facilitating the mobility of skilled Indian workers.
● Industry 4.0 Skills – Emerging competencies in automation, AI, big data, and
machine learning.
● Recognition of Prior Learning (RPL) – A program that certifies skills acquired
through informal means.
● Skill India International Centres (SIICs) – Institutions set up to prepare Indian
workers for overseas employment.
● Augmented Intelligence – The collaboration between AI and human workers to
enhance productivity.

18