Snapshots from Economic Survey: - GDP to grow at 7% in 2019-20 due to growth of investment & consumption Service exports. - Manufacturing & construction activities picked up in the last year.
- Lowered agriculture growth & allied activities & service sector growth. - Fiscal deficit - 3.5% to 3.4% 2018 -19 Key Points recognised by Economic Survey: - “Virtuous Cycle” of savings, investment and exports supported by demography. High demographic dividend -> High Savings -> High investment -> Jobs. Revive savings & investment Investment led growth & job led growth raising productivity Driver is Private investment. - Behavioral economics to create an aspirational agenda for social change Tax payment as duty 'give it up' subsidy to 'Think about the subsidy' - Certainty in economic planning. - Reorienting policies for growth of MSME's Next level of growth from 7% to 8% will come from MSME - bring about changes to make them competitive. Deregulating labor law restrictions to create significantly more jobs, as evident from Rajasthan. Remove impediments from growth for MSME rather than protecting them. - Population fertility level coming down - Age of population will rise . Policy makers need to prepare for ageing by investing in health care and by increasing the retirement age in a phased manner Improvements Needed in different sector: - Agri Sector: Create logistics Chain, ensuring APMC to liberalise, Agri marketing infrastructure Water programme integrate with agriculture Irrigated land ~ 40% - increasing the % of irrigate land. 40-50% of agri production rot - Increase in warehouses. - Industrial revival: Reduce cost of doing business, reduce corporate tax - link it to job creation, Pending reforms - land & labour, New industrial policy - bringing states together. Labour intensive export - Garments, electronics. The Economic Survey takes an integrated approach on all the sectors for revival of investment & growth. There needs to be an interlink between social sector & investments.
Before watching this video.. Do read the index of volume 1 and the 'At a glance' of all 11 chapters.. it is really helpful to understand this video better.
Watch NITI Ayog's Rajiv Kumar's interview first before watching this discussion as he has put the crux of economic survey and the focus of the government in just 14 minutes using way less jargons and economic terms.
Agriculture is income-inelastic sector! that is to say, the demand for agriculture produce doesn't rise with a rise in income. For instance, if your income increases by a million you would still want not more than 4 chapatis for your dinner. In India development has always been held hostage in the name of farmers. Fact is, Agriculture contributes 14% of countries GDP and engages 55% of people. So it's a no brainer that these people must migrate towards other sectors to make agriculture profitable, sustainable. Investment in infrastructure and creating agro-industries by building cooperative societies have to be done. Aside from this, an expansive monetary policy with a strict rule of law based society ensuring zero pilferage and corruption will surely increase India's GDP by increasing private investment. Indian laws, courts are cumbersome and are a serious impediment for growth.
The only use of this economic survey is for appearing civil service exam. The government must plan an instrument that the general public can associate with it and contribute to its recommendations.
Someone sitting in remote areas of Latur doesn't understand complex language... please make it lucid and much more elaborative. Ask your panelists to simply it much simpler manner.
Budget needs to be simple but EC needs to talk sbout complex issues and one nneds to understand those issues. Because the fact id that economy is in itself complex
Snapshots from Economic Survey:
- GDP to grow at 7% in 2019-20 due to growth of investment & consumption Service exports.
- Manufacturing & construction activities picked up in the last year.
- Lowered agriculture growth & allied activities & service sector growth.
- Fiscal deficit - 3.5% to 3.4% 2018 -19
Key Points recognised by Economic Survey:
- “Virtuous Cycle” of savings, investment and exports supported by demography.
High demographic dividend -> High Savings -> High investment -> Jobs.
Revive savings & investment
Investment led growth & job led growth raising productivity
Driver is Private investment.
- Behavioral economics to create an aspirational agenda for social change
Tax payment as duty
'give it up' subsidy to 'Think about the subsidy'
- Certainty in economic planning.
- Reorienting policies for growth of MSME's
Next level of growth from 7% to 8% will come from MSME - bring about changes to make them competitive.
Deregulating labor law restrictions to create significantly more jobs, as evident from Rajasthan.
Remove impediments from growth for MSME rather than protecting them.
- Population fertility level coming down - Age of population will rise .
Policy makers need to prepare for ageing by investing in health care and by increasing the retirement age in a phased manner
Improvements Needed in different sector:
- Agri Sector: Create logistics Chain, ensuring APMC to liberalise, Agri marketing infrastructure
Water programme integrate with agriculture
Irrigated land ~ 40% - increasing the % of irrigate land.
40-50% of agri production rot - Increase in warehouses.
- Industrial revival: Reduce cost of doing business, reduce corporate tax - link it to job creation, Pending reforms - land & labour, New industrial policy - bringing states together.
Labour intensive export - Garments, electronics.
The Economic Survey takes an integrated approach on all the sectors for revival of investment & growth. There needs to be an interlink between social sector & investments.
Always ahead in depth analysis for civil service exam persepactive. Thanks rajya Sabha tv team.
Eco. Survey suggests that growth will come by boosting investments and savings. But how can we increase investments and savings at same time?
@@akshat549 investments create employment opportunities and they inturn provides stable livelihood and income in which one can increase their savings
@@akshat549 investment by fdi etc.
And savings by less tax rates, less inflation etc
Before watching this video..
Do read the index of volume 1 and the 'At a glance' of all 11 chapters.. it is really helpful to understand this video better.
Good discussion on economic servey
Watch NITI Ayog's Rajiv Kumar's interview first before watching this discussion as he has put the crux of economic survey and the focus of the government in just 14 minutes using way less jargons and economic terms.
share the link pls
@@deeptripathi1777th-cam.com/video/MnwKdDc2XcA/w-d-xo.html
Thank you
Agriculture is income-inelastic sector! that is to say, the demand for agriculture produce doesn't rise with a rise in income. For instance, if your income increases by a million you would still want not more than 4 chapatis for your dinner.
In India development has always been held hostage in the name of farmers. Fact is, Agriculture contributes 14% of countries GDP and engages 55% of people. So it's a no brainer that these people must migrate towards other sectors to make agriculture profitable, sustainable. Investment in infrastructure and creating agro-industries by building cooperative societies have to be done.
Aside from this, an expansive monetary policy with a strict rule of law based society ensuring zero pilferage and corruption will surely increase India's GDP by increasing private investment. Indian laws, courts are cumbersome and are a serious impediment for growth.
@Panda King Don't make me barf!
I think growth in the income and stagnant supply will certainly lead to rise in the price of agri products which would benefit farmers.
quality education and innovation is the only way
good explanation
The only use of this economic survey is for appearing civil service exam. The government must plan an instrument that the general public can associate with it and contribute to its recommendations.
Someone sitting in remote areas of Latur doesn't understand complex language... please make it lucid and much more elaborative. Ask your panelists to simply it much simpler manner.
Are u Maharashtrian?
Budget needs to be simple but EC needs to talk sbout complex issues and one nneds to understand those issues. Because the fact id that economy is in itself complex
problem u r facing is due to latur pattern..hahah no offense
Thank you so much 😊😊✌️👍
Volunteers retirement raised with longevity of services
good
👍
Anchor of the show not should hurry
Jo lok kam karega o ki permanent hoga
Poor host
I am preparing for upsc 2020 should I read this economic survey or a new will come
New will come in new financial year. this is late bcoz of election
Read every economic survey ! This is an excellent document!