GOVERNMENT SOCIAL SECTOR SPENDING SHOWS RISING TREND SINCE 2016, STATES ECONOMIC SURVEY 2023-24

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....OVERNMENT SOCIAL SECTOR SPENDING SHOWS RISING TREND SINCE 2016, STATES ECONOMIC SURVEY 2023-24 <br>Budget<br>Dated:- 22-7-2024<br><BR>SOCIAL WELFARE EXPENDITURE GROWS AT CAGR OF 12.8% BETWEEN FY18 - FY24 HEALTH EXPENDITURE INCREASES AT CAGR OF 15.8% EXPENDITURE ON SOCIAL SERVICES INCREASES TO 7.8% OF GDP; HEALTH EXPENDITURE INCREASES TO 1.9% OF GDP IN FY24 India's high and sustained economic gr....

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....owth in recent years is being accompanied by social and institutional progress, underpinned by transformational and effective implementation of Government programmes, states the Economic Survey 2023-24 tabled by the Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, in Parliament today. The Survey notes that the Government's spending on social services has shown a rising tr....

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....end since FY16, with a focus on many aspects of the social well-being of citizens of the country. Between FY18 and FY24, the overall social welfare expenditure has grown at a Compounded Annual Growth Rate (CAGR) of 12.8% while the expenditure on health has grown at a CAGR of 15.8 %. Out of the total expenditure on Social Services of Rs. 23.5 lakh crores in BE 2023-24, health expenditure has increa....

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....sed to Rs. 5.85 lakh crores, as compared to the total expenditure on Social Services of Rs.11.39 lakh crores and health expenditure of Rs. 2.43 lakh crores in 2017-18. As a percent of GDP, expenditure on social services has increased from 6.7% in 2017-18 to 7.8% in 2023-24. Correspondingly, health expenditure has increased from 1.4% to 1.9% in the same period. The Survey also highlights that as a....

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.... percent of total expenditure, the expenditure on social services registered an increase to 26% in 2023-24 BE, out of which the expenditure on health constituted 6.5%.<BR> News - Press release - PIB....