Investment has become a buzzword. Right from Finance Minister’s Nirmala Sitharaman’s budget speech on 5 July 2019 through Prime Minister Narendra Modi’s Independence Day speech setting the government’s goal of $5 trillion for Indian economy or `343 lakh crore in five years, i.e., 2024. Clearly so, investments have become an urgent priority.
The rising trajectory of growth is certain to take the economy to $5 trillion. The recent track record experience of the economy has been a positive one as far as accelerating growth goes. The economy grew 3.5 per cent from 1950-1980 and 5.5 per cent from 1980-2000 and 7.5 per cent from 2000-2012. It’s only in the last five years that the growth rate has slowed down.
The primary policy challenge that needs to be overcome for reaching the goal of growing the size of the economy to $5 trillion, he highlighted, is to figure out why the economy slowed down and how it can return to the long-term trajectory of 7.5-plus per cent growth. In other words, the nature of the economic challenge will have to be understood for the right policies to follow.
For the last 20-30 years, the expectations were that India is a rising-curve economy and currently expectations are bearish because of the deceleration in the rate of investments seen year-after-year over the last five-six years, which then resulted in a deceleration in the rate of savings.
Reviving the expectations, according to Sanjaya Baru, is the key to reversing the slowdown in private investments. “We need a 1991-type approach where everyone in government is involved in reviving optimism in the economy but policymakers in this government have not understood the importance of sentiment”.
He called the 5 July Budget “a wasted opportunity’’ that could have been the occasion to alter the sentiment exactly the same way, the July 1991 budget had done it overnight.
Denne historien er fra April - September 2019-utgaven av Inclusion.
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Denne historien er fra April - September 2019-utgaven av Inclusion.
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GSRTC Focuses On Passenger Convenience And Efficiency
GSRTC has taken a number of innovative steps to improve efficiency and quality of services. This is the first state transport corporation in the country to have its own coach making facilities. To achieve the vision of Digital India the Corporation provides incentives on online ticket booking and also provides the option of group bookings.
Gujarat Tops Skoch State Of Governance 2019
Gujarat has done it once again! The state has continued its growth story with impressive reforms and governance initiatives to emerge at the top of SKOCH governance rankings for this year. From technology-led welfare delivery to strengthening its skill development framework, the state is leaving no stone unturned to chart a course for development.
Andhra Pradesh Continues As The Sunrise State
Andhra Pradesh is among those states, which has carved a space for itself. By focusing on technology-based solutions and improving citizen services, the state is setting examples for others to follow. This year, the state has showcased its work across healthcare, security services, easeof-doing-business and sustainable agriculture displaying its all-round potential.
SKOCH STATE OF GOVERNANCE 2019
SKOCH State of Governance report is one of the most awaited and discussed publications on the state of governance in the country. The focus on primary data and grassroots level interventions make it unique. This year the traditional frontrunner Gujarat has occupied the top spot, replacing West Bengal that had sprung a surprise in 2018. The report lists the best and the rest of Indian states and UTs on the basis of their performance.
TAMIL NADU SHINES ON HUMAN DEVELOPMENT AND EASE OF BUSINESS
Even though Tamil Nadu’s governance indicators are among the highest in the country, the state has made news more for its politics than its governance initiatives. In this edition of SKOCH State of Governance ranking, Tamil Nadu scores well due to its innovative projects, which promise a bright future.
CENTRE'S GOOD GOVERNANCE INITIATIVES
Schemes and programmes spearheaded by the central government usually have multiplier effects on social welfare in key areas like health and education. While entries from states account for bulk of the projects shaping the State of Governance ranking, a substantial number of projects also came from the centre that made high impact at the grassroots level.
WEST BENGAL MARCHES ON BY USING TECHNOLOGY AND SOCIAL WELFARE
For a state that has been forever characterised with labour unrest and difficulty of doing business, West Bengal has pulled itself up through technology-based welfare delivery and has converted itself into a business hub. The state is looking to grow the fastest among its peers.
Gujarat Best In Ayushman Bharat Implementation
Gujarat has emerged as the top performing state under Ayushman Bharat scheme. As per the National Health Authority, the state ranks first on all the key parameters, including the number of claims and amount of claims. It has left the bigger states far behind. A report by TEAM INCLUSION
Climate Change Challenges To India's $5 Trillion Ambition
Climate change is upon us. Drastic and globally-coordinated emissions reductions are urgently needed. This summer was the hottest in a century. With each passing year, temperatures are rising leading to an unprecedented melting of snow and longer summer months. On the one hand, we have draughts and on the other, flash floods. India is most vulnerable to climate change. What does it mean in context of Modi Government’s economic growth projections.
Finding Investments For A $5 Trillion Economy
As India sets the target of $5 trillion economy, GDP indicators show a downward trend. Quarterly GDP growth falls to 5 per cent—seven year low, casting a shadow on Modi’s plans. While it may be true that $1 trillion was added between 2014 and 2019, making it a $3 trillion economy; adding another $2 trillion will be a difficult task.
