Economic Survey 2019 outlines vision to achieve $5-trn economy: PM Modi

The Eco Survey analyses the trends in agricultural and industrial production, infrastructure, employment, money supply, prices, imports, exports, foreign exchange reserves ahead of Union Budget 2019

2:22 PM

Key points in the Economic Survey

Salient points of CEA Subramanian's first Economic Survey:

2:19 PM

PM Narendra Modi says the survey outlines a vision to achieve a $5 trillion economy. Earlier, CEA Subramanian had said that "sustained real GDP growth rate of 8 per cent needed for a $5 trillion economy by 2024-25."

2:16 PM

There is a need to address the "burgeoning food subsidy bill" in order to sustain the government's food security programme for the poor, the Economic Survey said.

The government, in its interim budget presented in February, had pegged food subsidy bill at Rs 1,84,220 crore for 2019-20 as against Rs 1,71,298 crore last year.

"For sustainability of food security operations, the issue of burgeoning food subsidy bill needs to be addressed. ...The rationalisation of food subsidy and greater use of technology in food management will ensure food security for all," the survey, presented in Parliament, said.

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We owe it to the country to think not only of our rights, but also of our duties, said CEA Subramanian

 

2:12 PM

Filling existing judicial vacancies and improving productivity improvements in courts can address key hurdle of delays in contract enforcement and dispute resolution: CEA Subramanian

 

1:59 PM

Inflation rate has moved to a more stable and low level in the last five fiscals: Survey

The country's inflation rate has moved to a more stable and low level in the last five fiscals, and controlling price surge remains a key policy focus area of the government, the Economic Survey for 2018-19 said

1:56 PM

CEA Subramanian suggests increase in energy use so that GDP per capita rises

1:50 PM

CEA Krishnamurthy Subramanian says Swachh Bharat Abhiyan helped improve public health. 

1:44 PM

Classical economics thinks of humans as robots; the economic survey argues for an ambitious agenda for social change, treating humans as humans, relying on the lessons offered by Behavioural Economics: CEA Krishnamurthy Subramanian

1:42 PM

Effective minimum wage policy can help in driving up aggregate demand: CEA Krishnamurthy Subramanian

1:39 PM

Favourable demographics a major plus point: CEA

Favourable demographics is a major plus point for India to adopt a virtuous circle 

 

1:37 PM

India should learn from China: CEA

As their economy started growing better, China started saving and investing more; India needs to learn from this and adopt a virtuous cycle: CEA Krishnamurthy Subramanian

 

1:35 PM

Data as a public good can enhance the quality of people's lives, says CEA Krishnamurty Subramanian

1:35 PM

Indian economy is poised for a take off, says CEA Krishnamurty Subramanian

 

 

1:33 PM

Economic Survey says India could become a big manufacturer of electrical vehicles.

1:31 PM

Private investment- key driverfor demand, capacity, labor productivity, new technology, creative destruction and job creation.

Survey departs from traditional Anglo-Saxon thinking by viewing the economy as being either in a virtuous or a vicious cycle, and thus never in equilibrium.

1:30 PM

India will enjoy the “demographic dividend” phase in the next two decades: CEA Subramanian

1:27 PM

Survey makes an effort to achieve vision of $5 trn economy: CEA

This year's economic survey makes an effort to achieve PM Modi's vision of Indian economy at $5 trillion  investment is the key driver here.

1:21 PM

Economic policy uncertainty has decreased: CEA

Economic policy uncertainty has decreased in India amidst its increase globally.

1:19 PM

Heading to a century where data is new oil: CEA

1:09 PM

Survey focuses on enabling MSMEs to grow for achieving greater profits, job creation and enhanced productivity.

 Dwarfs (firms with less than 100 workers) despite being more than 10 years old, account for more than 50% of all organized firms in manufacturing by

number.
 

 Contribution of dwarfs to employment is only 14% and to productivity is a

mere 8%.

 

1:08 PM

Working age population to grow by roughly 9.7mn per year during 2021-31 and 4.2mn per year during 2031-41: Economic Survey

1:07 PM

Economic Survey proposes new minimum wage policy

Redesigning a Minimum Wage System in India for Inclusive Growth
 

 Survey proposes a well-designed minimum wage system as a potent tool for

protecting workers and alleviating poverty.

 Present minimum wage system in India has 1,915 minimum wages for various

scheduled job categories across states.

 1 in every 3 wage workers in India not protected by the minimum wage law.

 Survey supports rationalization of minimum wages as proposed under the

Code on Wages Bill.

 Minimum wages to all employments/workers proposed by the Survey.

 ‘National Floor Minimum Wage’ should be notified by the Central

Government, varying across five geographical regions.

 Minimum wages by states should be fixed at levels not lower than the ‘floor

wage’.

 Minimum wages can be notified based either on the skills or on geographical

region or on both grounds.

 Survey proposes a simple and enforceable Minimum Wage System using

technology.

 ‘National level dashboard’ under the Ministry of Labour & Employment for

regular notifications on minimum wages, proposed by the Survey.

12:48 PM

MSMEs dont' create enough jobs: Economic Survey

12:35 PM

Sharp slowdown in population growth in next 2 decades

Sharp slowdown in population growth expected in next 2 decades. Most of India to enjoy demographic dividend while some states will transition to

ageing societies by 2030s.

12:34 PM

Net employment generation in formal sector was higher at 8.15 lakh in March 2019

Net employment generation in the formal sector was higher at 8.15 lakh in March, 2019 as against 4.87 lakh in February, 2018 as per EPFO.

 

12:32 PM

Survey states that pathways for trickle-down opened up during the last five years; and benefits of growth and macroeconomic stability reached the

bottom of the pyramid.

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12:28 PM

Fiscal deficit pegged at 3.4% of GDP for 2018-19

12:20 PM

Eco survey says Fiscal deficit pegged at 3.4% of GDP for 2018-19