States to have own economic report card?
The Centre, keen on co-operative federalism, is likely to suggest that states come up with their own report cards, similar to the economic survey, to provide clarity on local policies, issues, strengths as well as hurdles.business Updated: Mar 18, 2015 23:22 IST
The Centre, keen on co-operative federalism, is likely to suggest that states come up with their own report cards, similar to the economic survey, to provide clarity on local policies, issues, strengths as well as hurdles.
The move is also expected to help investors make concerted decisions by painting a clear picture of states’ economic affairs.
Sources said that the proposal was the brainchild of chief economic adviser Arvind Subramanian.
“The idea is to start talking to the states and various research institutes there to ask them to come up with their own economic surveys, which would give a clear picture of the ground-level issues including their strengths and problems… Each state would have a different scenario, which cannot be captured until the exercise is done independently by different states,” a senior government official told HT on the condition of anonymity.
However, the official said the final call on implementing the proposal would rest with the state governments.
At present, only a handful of states, including Gujarat and Bihar, conduct their own individual economic surveys.
Most states do not publish this report card. And even those that do, produce reports that are not detailed, and give only a sketchy picture, said the source.
The Economic Survey 2014-15, which was presented on February 27, underlined the need to provide more autonomy to states to frame policies that are best suited to them — a move that may cement the framework of co-operative federalism in the country. The survey also projected India’s economic growth rate at more than 8% for 2015-16.