Economic Survey 2019 Highlights - Fiscal deficit at 5.8% in 2018-19, down from 6.4% last year
Economic Survey 2019 Highlights: Chief Economic Adviser KV Subramanian has tabled the new Narendra Modi government’s maiden Economic Survey in Parliament today, a day before the Union Budget 2019 will be presented by Finance Minister Nirmala Sithara...
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Chief Economic Adviser KV Subramanian has tabled the new government’s first Economic Survey in the Parliament. The Economic Survey contains a summary of developments in the economy, government’s development programmes and policies. It is presented a day before the Union Budget.
Catch all the major highlights here:
‘Economic Survey is a blueprint for India to become $5 trillion economy’: CEA
Chief Economic Adviser said the Economic Survey will be a key driver of investment cycle to fuel economic growth.
‘Govt is pessimistic about the economy’: P Chidambaram
Former Union Minister P Chidambaram says there are no growth projections sector wise and says the first line of the economic survey 2019-20 is self-congratulatory.
P Chidambaram,Congress: The first sentence of volume-1, chapter 1 of #EconomicSurvey2019 is self congratulatory. There are no growth projections sector wise. It appears to me the Govt speaking through the survey is pessimistic about the economy. (file pic) pic.twitter.com/WEXnZroR6B— ANI (@ANI) July 4, 2019
Retirement age set to increase according to Economic Survey
“Since an increase in the retirement age is perhaps inevitable, it may be worthwhile signalling this change well in advance – perhaps a decade before the anticipated shift – so that the workforce can be prepared for it,” the Economic Survey for 2018-19, tabled in Parliament by Finance Minister Nirmala Sitharaman Thursday, said, according to PTI.
‘Eco Survey outlines vision to achieve a $5 trillion economy’: PM Modi
The #EconomicSurvey2019 outlines a vision to achieve a $5 Trillion economy. It also depicts the gains from advancement in the social sector, adoption of technology and energy security. Do read! https://www.indiabudget.gov.in/economicsurvey/,” tweeted Prime Minister Narendra Modi.
CEA makes case for potential of data as a public good
CEA KV Subramanian made a case for the potential of data as a public good; governments need to invest in this the same way as they build roads for the welfare of people, he said, tweeted PIB.
‘Labour deregulation has potential in enabling higher growth’: CEA KV Subramanian
Labour deregulation has potential in enabling higher growth. Labour reforms undertaken by Rajasthan provide evidence for the potential of labour deregulation in enabling higher growth, said CEA KV Subramanian.
‘Firms that grow large over time significant contributors to employment’: CEA KV Subramanian
Firms that over time grow large are significant contributors to employment and value; need more focus on firms to reap economies of scale, rather than on firms which remain slow despite their age, tweeted Press Information Bureau.
‘Beti Bachao Beti Padhao led to improved sex ratio at birth’: CEA KV Subramanian
“Beti Bachao Beti Padhao scheme has led to improvement in sex ratio at birth,” said CEA KV Subramanian.
‘Sanitation had a significant impact on health outcomes’: KV Subramanian
“Sanitation had a significant impact on health outcomes. The Swachh Bharat mission had a role to play in it. It has been a great example of behavioural change ,” said KV Subramanian.
‘Virtuous cycle is to be of savings, investment, exports’: KV Subramanian
“Need for ‘Shifting of Gears’ to enter into a virtuous cycle for a sustained economic growth; virtuous cycle is to be of savings, investment and exports, supported by favourable demographic phase,” said KV Subramanian.
Every chapter of Survey has ‘Chapter at a Glance’: KV Subramanian
“Apart from an Abstract, every chapter has a “Chapter at a Glance” that encapsulates the key ideas in the chapter,” said KV Subramanian.
‘Economy will be ‘virtuous cycle’, with investment as the key driver’: CEA KV Subramanian
The cover design of the Survey captures the idea of investment, savings, exports, growth and jobs being complementary and forming a ‘virtuous cycle’, with investment as the key driver, said KV Subramanian.
‘Economic Survey 2019 inspired by Gandhiji’s Talisman’: CEA KV Subramanian
Economic Survey 2019 is inspired by Gandhiji’s Talisman: “…Recall the face of the poorest man [woman], and ask yourself, if the step you contemplate is going to be of any use to him [her],” tweeted CEA KV Subramanian.
‘Poor enforcement of contracts, dispute resolution biggest hurdles to 5 trillion economy’: CEA KV Subramanian
One of the biggest hurdles to making our economy a 5 trillion economy is poor enforcement of contracts and dispute resolution. Steps to speed up legal process should be top priority. Economic Survey 2019 shows that required efficiency gains and appointments are large but achievable, tweeted CEA KV Subramanian.
‘Nudging behaviour change simplest way to change culture’: CEA KV Subramanian
Real people respond to context rather than narrow ‘rational’ calculations. Economic Survey 2019 argues that nudging behaviour change is simplest way to change gender equations, business culture, sanitation culture, health culture and so on, tweeted CEA KV Subramanian.
‘MSMEs need to be seen as a source of innovation’: CEA KV Subramanian
Indian MSMEs need to be freed from shackles that convert them into dwarfs. MSMEs need to be seen as a source of innovation, growth and job creation , tweeted Chief Economic Adviser KV Subramanian.
Survey projects 283.4 mn tonnes of foodgrain production for 2018-2019
The Economic Survey projected 283.4 million tonnes of foodgrain production for 2018-19, tweeted Press Information Bureau.
Data should be ‘of the people, by the people, for the people’: Eco Survey
Economic Survey 2019 highlights the immense potential of data of societal interest, says data should be “of the people, by the people, for the people,” tweeted Press Information Bureau.
Shift to alternative fuels imperative to sustainable mobility: Eco Survey
Citing Ministry of Environment, Forest & Climate Change (2018), the Survey says road transport accounts for around 90 per cent of the total emissions in the transport sector in India. Given the large import dependence of the country for petroleum products, it is imperative that there be a shift of focus to alternative fuels to support our mobility in a sustainable manner, the Survey adds, according to a Ministry of Finance press release.
Electric Vehicles hold enormous potential for India: Eco Survey
The Economic Survey states that Electric Vehicles (EVs) hold enormous potential for India not only because it is environment friendly but also because India can emerge as a hub of manufacturing of EVs generating employment and growth opportunities, according to a Ministry of Finance press release.
Economic Survey tabled in the Lok Sabha
The Economic Survey has been tabled in the Lok Sabha. :ANI
Need sustained 8% growth rate to become $5 trillion economy by 2025
According to the Economic Survey, India needs to sustain a GDP growth rate of 8% to become a $5 trillion economy by 2025. : ANI
Fiscal deficit at 5.8% in 2019 against 6.4% in 2018
General fiscal deficit seen at 5.8% in financial year 2019 against 6.4% in financial year 2018. : ANI
Oil prices expected to decline in 2019-20: Economic Survey
According to the Economic Survey 2019, Oil prices are expected to decline in 2019-20. :ANI
India will face a challenge on fiscal front: Economic Survey
The government’s economic survey says India will face a challenge on the fiscal front following an economic slowdown impacting tax collections amid rising state expenditure on the farm sector, sources said. : Reuters
Nirmala Sitharaman tables Economic Survey in Rajya Sabha
Finance Minister Nirmala Sitharaman has tabled the Economic Survey 2019 in the Rajya Sabha. The survey forecast its annual economic growth could accelerate to 7% in the 2019/20 fiscal year from an estimated 6.8% in the previous year, two government sources said, that could help it regain the status of world’s fastest-growing major economy by overtaking China. : Reuters
Survey tries to find out the holes in the current economy: Sources
But the Survey has, sources said, tried to find out the holes in the current economy as well, not toeing the standard line. :IANS
‘I hope to contribute to ideas for economy’: CEA
“Our team has put in a lot of effort with a lot of dedication, I hope results are good and we are able to contribute to the ideas for the economy. I hope the almighty blesses us,” said Chief Economic Adviser KV Subramanian. :ANI
Survey to include headwinds economy might face
The Economic Survey is likely to flag headwinds that the economy might face in its pursuit to become the world’s fifth largest economy, reports news agency PTI.
Survey likely to come up with 8 to 9 out-of-box ideas
The Economic Survey is likely to come up with 8 to 9 out-of-box ideas with regard to revival of overall growth in agriculture, manufacturing, and exports, on infrastructure, as well as NPAs including bank recaps, employment and capital market and public debt, reports new agency IANS.
Copies of the Economic Survey brought to Parliament
Copies of the Economic Survey have been brought to Parliament, reports news agency ANI.
CEA ‘looking forward with excitement’ to table survey
“Looking forward with excitement to table my first - and the new Government’s first - Economic Survey in Parliament on Thursday. #EcoSurvey2019,” tweeted the Chief Economic Adviser.
CEA KV Subramanian to table Economic Survey in Parliament today
Chief Economic Adviser KV Subramanian will table the new government’s first Economic Survey in Parliament today.