Govt of India Economic Chest: Part – 1 Economic Survey: Summary of 2019-20.
02 – 04 – 2020
The survey emphasizes wealth creation.
The survey reveals that India was an influential economic power throughout the world during the postwar period of economic history. During this period India relied solely on the invisible hand of the market for wealth creation. He had the support of the hand of trust. It had openness to financial transactions. This traditional model of India has been confirmed due to liberalization. After liberalization, India’s GDP and its per capita income have increased tremendously, as well as wealth creation in the stock market. Similarly, in various sectors of the economy, there are many benefits due to the sluggish hand of the market.
The survey says that the sectors in which liberalization has taken place are more developed than other sectors. The economic events that took place in the financial sector during 2011-12 and the results that came out show that the invisible hand needs the hand of faith. The survey states that in order to become a $ 5,000 abaj economy, India needs the invisible hand of the market as well as the trust arm that supports the market. It requires entrepreneurship policies, the survey says.
These policies should be as follows:
(1) To provide equal opportunities to new entrants in the market, create fair competition in the market and ease of doing business;
(2) removal of government policies that occur wherever government intervention is not required and that is destroying the market,
(3) To promote employment generation.
(4) Increase the scope of the banking sector as the size of India’s economy stops. In this survey, trust is seen as a public object and as the use of trust grows, the survey suggests that to increase people’s trust in government, transparency should be increased with government policies and effective implementation using information and technology. Should.