Key Highlights of Economic Survey 2019-20
Economic Survey 2019-20 PDF for Bank, Insurance, SSC, Railway, UPSC. PIB Key Highlights of Economic Survey 2019-20. Budget Highlights 2019-20. Nirmala Sitharaman Budget 2019-20. Important PDF of Budget 2019-20. Download Economic Survey 2019-20 important Points and Highlights. Economic Survey is an annual document which shows all aspect of the Indian economy in comprehensive detail of various sectors. It is very important for the students who are preparing for Bank, Insurance, SSC, Railway, UPSC, PCS and others competitive Exams.
In this article, we are sharing you all Economic Survey 2019-20 PDF with some highlights. you are bound to find a few questions on Current Affairs in your General Awareness section on Economic survey and Budget. So be prepared to tackle it all! The Economic Survey 2019-20 PDF, an annual document of the Ministry of Finance, reviews the developments in the economy over the previous 12 months, in both houses of Parliament during the Budget Session, which summarizes the performance on major development programme, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. It also details the main policy initiatives of the government.
Economic Survey 2019-20 – PIB Key Highlights
The Economic Survey 2019-20, prepared by Chief Economic Advisor Krishnamurthy Subramanian, gives a review of the developments in the economy over the previous 12 months and also gives an outlook for the next financial year.
Who makes it?
It is compiled by Chief Economic Advisor (Current- Krishnamurthy Subramanian) under the Ministry of Finance.
Who publishes it?
- It is published by the Department of Economic Affairs under the Ministry of Finance.
- Generally, It is available from one day before from the announce of the budget on the official website of the Ministry of Finance.
History of Economic Survey in India
- First economic Survey of India was published by the government of India for the financial year 1950-51.
What does it include?
- It includes all statistics for the last year for various sectors of Indian Economy.
- The Survey shows the highlights of various initiatives, programmes, policies of the Indian governments.
What is the Significance of Economic Survey?
- Helps in future policy-making based on current statistics of the Indian Economy
- Helps in taking of right steps to achieve the various targets which include growth rate, fiscal deficit, Forex reserves etc.
- Helps in the Budget-making process for the upcoming financial Year.
Structure of Economic Survey
- It is published in two parts which are Volume 1 and Volume 2.
- Each volume is divided into chapters.
- Generally, Volume-2 is more statistics oriented.
Following are the highlights of the Economic Survey 2019-20 tabled in Parliament on today:
- GDP growth pegged at 6-6.5% in fiscal year starting April 1, up from 5% in current fiscal
- Fiscal deficit target for current fiscal may need to be relaxed to revive growth
- Uptick in growth projected in second half of current fiscal based on 10 factors including higher FDI flows, build up of demand pressure, positive GST revenue growth
- Survey asks government to deliver expeditiously on reforms to revive growth
- Ethical wealth creation key to India becoming $5 trillion economy by 2025
- Share of formal employment increased from 17.9% in 2011 -12 to 22.8% in 2017-18 reflecting formalisation in the economy
- Theme of Survey is wealth creation, promotion of pro-business policies, strengthening of trust in the economy
- To achieve GDP of $5 trillion by 2024-25, India needs to spend about $1.4 trillion over these years on infrastructure
- 62 crore new jobs created in rural, urban areas between 2011-12 and 2017-18 among regular wage/salaried employees
- 8% increase in regular employment of women in 2017-18 over 2011-12
- Excessive government intervention in markets, especially when the market can do the job of enhancing citizens welfare perfectly well, stifles economic freedom
- Debt waivers disrupt the credit culture, reduces formal credit to same farmers
- Suggests government to systematically examine areas where it needlessly intervenes and undermines markets
- Calls for improving governance in public sector banks, more disclosures to build trust
- Calls for measures to make it easier to start new business, register property, pay taxes, enforce contracts
- Easing of crude prices lowers current account deficit; imports contract more sharply than exports in first half of current fiscal
- Declining inflation from 3.2% in April 2019 to 2.6% in December 2019, reflecting weakening demand pressure in the economy
- GST collections grew by 4.1% for the centre during April-November 2019.
Key Highlights of Economic Survey 2019-20
Economic Survey 2019-20 – Volume I
Economic Survey 2019-20 – Volume I
Economic Survey 2019-20 : Download Volume I and II PDF and Info-graphics
| Economic Survey 2019-20 | Download Link |
| PIB Key Highlights PDF | Click Here |
| Volume I | Click Here |
| Volume II | Click Here |
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