Economic Survey: All states to gain from transfers recommended by 14th Finance Commission

Finance Minister Arun Jaitley on Friday tabled the Economic Survey for fiscal 2014-2015, and stated that all states stood to gain in absolute terms, from the transfers recommended by the 14th Finance Commission.

The major highlights of the survey that reviews the Indian economy over the past year are as following-

All states stand to gain in absolute terms from transfers recommended by 14th FinanceCommission.

14th Finance Commission will enhance fiscal federalism in India

Need to improve productivity in the agricultural sector to ensure food security.

Greater public investment in Railways would boost competitiveness of Indian manufacturing substantially.

Public investment to be a key growth engine in short run for Railways, but not a substitute for private investment.

Services sector negotiations at WTO hold special significance for India in removing many market access barriers

Post Office can be linked with Aadhar-based benefits transfer architecture to allow linkage to AADHAR accounts.

Array

The Economic Survey reviews the developments in the Indian economy over the previous 12 months, summarizes the performance on major development programmes and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.