Podcast: Economic Survey (Round-up)

31 Jan 2020, 10:50

The Economic Survey stated that the Indian economy is expected to grow 6-6.5 percent in 2020-21.

This GDP growth forecast is seen as somewhat ambitious, given that Indian economy is widely expected to close current fiscal with 5 per cent growth.

The latest Economic Survey for 2019-20 was tabled in both Houses of Parliament by Finance Minister Nirmala Sitharaman.

With 'Wealth Creation' as the theme for this year's edition, the latest Economic Survey has come up with ten new ideas on how to fulfil this wealth creation goal.

An important suggestion is the Survey calling for "aggressive disinvestment" of Central Public Sector Enterprises (CPSEs) to bring in higher profitability, promote efficiency, increase competitiveness and promote professionalism.

The Survey also builds on the India's declared aspiration of becoming a $ 5 trillion economy.

At best, the Economic Survey, prepared by the Chief Economic Advisor in the Finance Ministry Krishnamurthy Subramanian and his team, serves only as a policy guide and could only hint the path that Government could take in the upcoming budget as regards fiscal management.

The Government is not bound to follow the policy prescriptions recommended in the Survey.

The Economic Survey for 2019-20 delves deep into the reasons for current economic slowdown while putting out a strategy for the manufacturing sector to focus on 'assemble in India' paradigm in the coming days.