Economic Survey brings out 10 facts and also raise some questions

Economic Survey brings out 10 facts and also raise some questions

1. There has been a large increase in registered indirect and direct taxpayers

2. Formal non-agricultural payroll is much greater than believed

3. States’ prosperity is correlated with their international and inter-state trade

4. India’s firm export structure is substantially more egalitarian than in other large countries

5. The clothing incentive package boosted exports of readymade garments

6. Indian society exhibits strong son “Meta” Preference

7. There is substantial avoidable litigation in the tax arena which government action could reduce

8. To re-ignite growth, raising investment is more important than raising saving

9. Direct tax collections by states and local govts significantly lower than those of their counterparts in other countries

10. The footprint of climate change is evident and extreme weather adversely impacts agricultural yields

Econ Survey poses 7 questions

1.Can we expect the current investment slowdown to reverse quickly based on understanding of other countries’ experience?

2. Do second and third tier of govts collect direct taxes that they are empowered to, and if not, what does that signify?

3.On gender, why should we focus on the sex ratio of the last child?

4.Under what conditions, to what extent, and where will the agricultural impact of climate change be most felt?

5.Will there be a stall in India’s four decades long, dynamic process of economic convergence?

6. Should the govt and judiciary agree to a cooperative separation of powers like the center and states do in the form of cooperative federalism to improve the conditions of doing business?

7.Should there be a number of science and technology missions to propel India to the ranks of the world’s top knowledge producers?

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