Seven key thoughts in the Economic Survey

A look at some of the important quotes in the Economic Survey for 2014-16

POISED FOR TAKE-OFF

“India has reached a sweet spot — rare in the history of nations — in which it could finally be launched on a double-digit medium-term growth trajectory”
NO BIG-BANG REFORMS

“Big-Bang reforms as conventionally understood are an unreasonable and infeasible standard for evaluating the government’s reform actions”

STATES TO LEAD REFORM

“Reforms of labour and land laws and reducing the costs of doing business will need to be a joint endeavour of states and the Centre”
CAPITAL INFLOW HURTS EXPORTS

“Surging capital inflows, notwithstanding the intervention by the RBI, both in spot and forward markets, accounts for the bulk of the deteriorating competitiveness”

PRIVATE INVESTMENT REVIVAL UNLIKELY

“The situation of Indian public-sector banks and corporate balance sheets suggests that the expectation that the private sector will drive investment needs to be moderated”
EXIT FROM STATE-RUN BANKS
“[In public-sector banks] a one-size-fits-all approach to governance reforms, public ownership, exit and recapitalisation should cede to a more selective approach”
SKILLING BEFORE MAKING
“While ‘Make in India’, which has occupied all the prominence, is an important goal, the prime minister’s other goal of ‘skilling India’ is no less important and perhaps deserves as much attention”