Finance Minister Sitharaman tables Economic Survey 2023-24 in LS
New Delhi (PTI): Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey 2023-24, along with the statistical appendix 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 document also provides an overview of the short-to-medium-term prospects of the economy.
The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance under the supervision of the chief economic adviser.
The first Economic Survey came into existence in 1950-51 when it used to be a part of the budget documents.
In the 1960s, it was separated from the Union Budget and tabled a day before the presentation of the Budget.
The Union Budget for 2024-25 will be presented by Sitharaman on Tuesday.
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Private bus operators in Karnataka to hike fares by 20-30 pc after fuel price rise
Bengaluru (PTI): In the wake of the hike in fuel prices, private bus operators have decided to increase fares by 20-30 per cent, depending on the route, effective from Friday midnight.
They have also called for government subsidies, a reduction in cess, and lower road taxes to improve the situation.
"The situation for bus owners in the state is already distressing due to high road tax and the impact of the Shakti scheme (free bus travel for women in government buses). On top of this, fuel prices have increased," Karnataka State Bus Owners’ Association President S Nataraj Sharma said.
"This will impose a burden of Rs 15,000 per vehicle per month on bus owners. If an owner has three buses, the burden will be Rs 45,000 to Rs 50,000 per month," he added.
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Speaking to reporters, he said the situation has made it inevitable for owners to increase fares by 20-30 per cent, depending on the route, under current conditions.
The increase may be roughly Rs 200 per seat, he added.
"For example, the current bus fare from Bengaluru to Belagavi is around Rs 1,000–Rs 1,200, which is likely to rise to Rs 1,350–Rs 1,400. Similarly, fares from Bengaluru to Mangaluru or Udupi currently range from Rs 900–Rs 1,000 and are expected to go up to Rs 1,100–Rs 1,200," he said.
Petrol and diesel prices were each hiked by Rs 3 per litre on Friday, the first rate increase in more than four years, amid mounting losses for fuel retailers due to surging global crude prices in the wake of the West Asia conflict.
The increase comes a couple of weeks after the Assembly elections concluded in Assam, Kerala, Tamil Nadu, West Bengal, and Puducherry.
