The Economic Survey 2018-19 has been released on the 4th of July 2019. Here is a report analysis
Investment, Employment, Job opportunity
Survey states that reducing taxes on businesses and the wealthy in society to stimulate business investment in the short term and to provide benefit to society at large in the long term has been opened up during the last five years; and benefits of growth and macroeconomic stability reached to poor people for opening new businesses by investment and loan.
For a sustained GDP growth rate of 8%, India needs to be a $5 trillion economy by 2024-25.
The survey focuses on enabling MSMEs (Ministry of Micro, Small and Medium Enterprises) to grow for achieving greater profits, job creation and enhanced productivity.
Dwarfs (firms with less than 100 workers) Contributed only 14% to employment and productivity is merely about 8%. Despite being 10 years older than an organized firm, They account for more than 50% of all organized firms in manufacturing by number.
Large firms (more than 100 employees) account for 75% employment and close to 90% of productivity despite accounting for about 15% by number
Survey also focuses on service sectors such as tourism, with high spillover effects on other sectors such as hotel & catering, transport, real estate, entertainment, etc., for job creation
India's Demography at 2040
There is an expectation of a sharp slowdown in population growth in the next 2 decades. Some states will see a transition to aging societies by 2030.
National Total Fertility Rate expected to be below replacement rate by 2021.
The working-age population expected to be 9.7 million per year during 2021-31 and 4.2 million per year during 2031-41.
Significant decline to be witnessed in elementary school-going children (5-14 age group) over the next two decades.
States need to merge schools to make them viable rather than build new ones and improve the old ones
Policymakers need to prepare for aging by investing in health care and by increasing the retirement age in a phased manner.
Analysis of the Swachh Bharat Mission
Traceable health benefits brought about by Swachh Bharat Mission (SBM).
93.1% of households have access to toilets.
96.5% of those with access to toilets are using them in rural India.
100% Individual Households Latrine (IHHL) Coverage in 29 states and 7 UTs.
Financial savings from a household toilet exceed the financial costs to the household by 1.7 times on average and 2.4 times for poorest households.
Environmental and water management issues need to be incorporated in SBM for sustainable improvements in the long-term.
Sustainable Development and Climate Change
India’s SDG Index Score ranges between 42 and 69 for States and between 57 and 68 for UTs:
Kerala and Himachal Pradesh are the front runners with a score of 69 amongst states.
Chandigarh and Puducherry are the front runners with a score of 68 and 65 respectively among the UTs.
Namami Gange Mission launched as a key policy priority towards achieving the SDG 6, with a budget outlay of INR. 20,000 crore for the period 2015-2020.
These were some important points for more visit PIB
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