Economic Survey points out three threats to India’s progress

Economic Survey points out three threats to India’s progress

the Economic Survey 2017, which was presented in Parliament today, has listed three challenges that might impede India’s progress—ambivalence about property rights and the private sector; deficiencies in the state capacity, especially in delivering essential services; and inefficient redistribution.

The survey highlights difficulties in privatising public enterprises, even for firms where economists have made strong arguments that they belong in the private sector. The survey points towards the need to further privatize the civil aviation, banking and fertilizer sectors. The survey points out that the capacity of the state in delivering essential services such as health and education is weak due to low capacity, with high levels of corruption, clientelism, rules and red tape.

“At the level of the states, competitive populism is more in evidence than competitive service delivery, the Survey adds. Constraints to policy making due to strict adherence to rules and abundant caution in bureaucratic decision-making favours status quo,” it says. According to the survey, redistribution by the government is far from efficient in targeting the poor. This is intrinsic to current programs because spending is likely to be greatest in states with better institutions and which will therefore have fewer poor.

The survey notes that over the past two years, the government has made considerable progress toward reducing subsidies, especially related to petroleum products. Technology has been the main instrument for addressing the leakage problem and the pilots for direct benefit transfer in fertilizer represent a very important new direction in this regard, the survey adds.

 

News Source: economictimes.indiatimes.com

 

 

About author

TnH Global
TnH Global 4048 posts

Our platform is the most comprehensive, current and accurate content destination for tourism that also offers the opportunity to connect and network with quality buyers and sellers.

Name: TnH Global              Email: admin@tnhglobal.com

You might also like

Latest

Kolkata’s outstanding dream destination

Stepping in at The Westin Kolkata Rajarhat, it is the world steeped in luxury, wellness and spirituality for the well-heeled class of travellers. The newest global luxury brand in the

Latest

India Celebrates World Tourism Day with Great Festive Fervor

 35th year of ‘The world Tourism Day’ was celebrated this year with grand celebrations across the world with this year’s theme “One Billion Tourists, One Billion Opportunities.”   Prime Minister

CAPA report says Domestic traffic in India could grow about 25% in FY2018

CAPA’s comprehensive 200-page India Aviation Outlook Report FY2017/18, to be released in Feb-2017 at the CAPA India Aviation Summit stated that the domestic traffic could grow by nearly 25% in

Destinations

Israel bullish on Agritourism boom in the country

Government officials, Ministers and 3000 agriculturalists from India visit Agritech, 2018 in Israel Tapping on the success story of great advancements achieved by Israel in the agricultural sector over the

Latest

Chief Lu Chuan from the Beijing Municipal Commission of Tourism Development opens Sabre TTX conference in Beijing

Chief Lu Chuan, Director of City Image and Marketing for the Beijing Municipal Commission of Tourism Development, welcomed Sabre guests to Beijing as they arrived to participate in the Sabre

Slider

PM Modi inaugurates Dhola-Sadiya Link, India’s Longest Bridge at 9.15 km

Prime Minister Narendra Modi kickstarted the celebrations of his government’s third anniversary celebrations on Friday with the inauguration of the country’s longest bridge in Assam. After inaugurating the 9.15-km Dhola-Sadiya

Mövenpick makes Sri Lankan debut with landmark tower

Mövenpick Hotels & Resorts has entered Sri Lanka with the launch of a new property in the country’s capital, Colombo. The new Mövenpick Hotel Colombo becomes the city’s first new

Latest

Radisson Hotel Group launches new property in Ningbo

Radisson Hotel Group has expanded its collection of upscale Radisson hotels in China, with the launch of Radisson Ningbo Beilun in the thriving port city of Ningbo, Zhejiang province. Radisson

Transport

Sounds Air enlists Sabre technology to support domestic growth

Sabre Corporation announces a long-term distribution agreement with Sounds Air, which recently celebrated its 30th anniversary. Under this new agreement, Sounds Air will now be able to expand its sales

Latest

Seychelles records 62% increase in tourist arrivals from India

Seychelles records 62% increase in tourist arrivals from India during January – July 2016 compared to the same period last year. This surge in the arrivals can be attributed to

GST in Force, Tourism Industry Struggles with Compliance Issues

With Goods and Services Tax (GST) coming into force from July 1, many industries including travel and tourism industry are facing the compliance challenges that GST has brought along. Biggest

Trending

New toy train likely at Patna zoo

The Sanjay Gandhi Biological Park, also known as Patna Zoo, has conducted a survey and come up with two proposals for running a new toy train on its premises. According

0 Comments

No Comments Yet!

You can be first to comment this post!