Economic Survey to revert to old style

Economic Survey to revert to old style

 The Economic Survey this year will revert to its old style and a whole chapter devoted to employment in 2013-14 Survey, will be absent.

 The focus of the Economic Survey is expected to be on reviving growth in an economy which is facing near stagflation. But the style will be more or less traditional where the most important second chapter will be devoted on issues and priorities as usual.

In an otherwise austere document of Ministry of Finance last year, the trend was broken by adding a special chapter on Seizing The Demographic Dividend which bluntly stated that policy makers were usually focused on short-run economic management issues. But the short run has to be a bridge to the long run.

Officials involved in the task of preparing the Survey, which comes just before the Budget, were of the opinion that it was time to address some big issues which have been curtailing growth, and will focus on ways to revive the investment cycle.

“Instead of dwelling on demographic dividend now, it is better to concentrate of issues that are hindering growth and give direction to the government on how to revert to a growth rate of 6-7 per cent,” an official involved in preparation of Economic Survey said.

The official said that they were also waiting for the new finance minister to come out with his priorities. “If the tackling of food inflation is top most on his mind, the survey will devote on giving a direction towards that. Similarly, infrastructure and investment issues will also occupy prominent place,” according to the official. The Economic Survey, which is presented to Parliament a day before the budget, is a flagship annual document of the finance ministry.