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Home > Reports and Documents > Economic Survey 2019-2020 > Economic Survey 2019-2020

Economic Survey 2019-2020 [1]

The Economic Survey identifies several levers for furthering wealth creation: entrepreneurship at the grassroots as reflected in new firm creation in India’s districts; promote “pro-business” policies that unleash the power of competitive markets to generate wealth as against “pro-crony” policies that may favour incumbent private interests.

The Survey makes the case that the churn created by a healthy pro-business system generates greater wealth than a static procrony system. Note that the Survey contrasts two systems; the arguments are not directed at any individual or entity. Instead, it argues for eliminating policies that undermine markets through government intervention even where it is not necessary; integrate “Assemble in India” into “Make In India” to focus on labour-intensive exports and thereby create jobs at large scale; efficiently scale up the banking sector to be proportionate to the size of the Indian economy and track the health of the shadow banking sector; use privatisation to foster efficiency. Consistent with the hand of trust supporting the invisible hand, the Survey provides careful evidence that India’s GDP growth estimates can be trusted.

Publication Date: 
31/01/2020
Ministry of Finance [2]
Tags:
Economy [3], Economic Development [4], India [5], Employment [6], Statistics [7], Services [8], Industry [9], Private Sector [10]
Centre for Science and Environment
National Knowledge Commission Government of India

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Source URL: http://admin.indiaenvironmentportal.org.in/reports-documents/economic-survey-2019-2020

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[1] http://admin.indiaenvironmentportal.org.in/reports-documents/economic-survey-2019-2020
[2] http://admin.indiaenvironmentportal.org.in/category/publisher/ministry-finance
[3] http://admin.indiaenvironmentportal.org.in/category/thesaurus/economy
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/economic-development
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/india
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/employment
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/statistics
[8] http://admin.indiaenvironmentportal.org.in/category/thesaurus/services
[9] http://admin.indiaenvironmentportal.org.in/category/thesaurus/industry
[10] http://admin.indiaenvironmentportal.org.in/category/thesaurus/private-sector