New Delhi, July 22 (IANS) After a fruitful decade of reforms, the government’s focus must turn to bottom-up reform and the strengthening of the plumbing of governance so that the structural reforms of the last decade yield strong, sustainable, balanced and inclusive growth, said the Economic Survey 2023-2024 on Monday.
In the last 10 years, the government pursued big-ticket reforms focused on restoring the health of the economy, elevating the potential growth by relieving supply-side constraints and strengthening its capabilities, capable of fulfilling the growth aspirations of the people in the present and the ‘Amrit Kaal’.
According to the Survey, the growth strategy for ‘Amrit Kaal’ is predicated on six key areas.
“Firstly, there must be a deliberate focus on boosting private investment. Secondly, the growth and expansion of India’s ‘Mittelstand’ (MSMEs) is a strategic priority. Thirdly, the potential of agriculture as an engine of future growth must be recognised and policy impediments removed,” the document stressed.
Fourthly, there is a need to secure the financing of green transition in India. Fifthly, the education-employment gap must be bridged.
And finally, focused building of state capacity and capability is required for sustaining and accelerating India’s progress.
A global trust deficit is driving countries to pursue policies focused on enabling them to become self-reliant and protect them from external shocks, especially in sectors of strategic importance.
“Therefore, the balance between inward-looking policies versus outward-looking policies needs to become more nuanced going forward,” the Survey said.
According to it, countries across the board have limited policy space to manoeuvre, given the multiple crises confronting the global economy.
Therefore, recognition and acceptance of trade-offs have become more necessary than before for policymakers.
“The next stage is to ensure that these reforms are implemented correctly and this will require intense engagement with state governments, the private sector, and civil society,” the Survey suggested.
–IANS
na/dpb
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
