Economic Survey UPSC 2021 Pdf Download | Highlights | Summary | Notes – Economic Survey 2021 Is Available Now For UPSC Prelims and Mains Exam 2021 . Economic Survey Is The One Of The Most Important Document For Exam Point Of View . It Is A Must Prepare Document For Exam . Get Full Economic Survey In All Languages Available Ut. Economic Survey is an Important Document Released By Indian Government . You Will Get All Economic Survey Notes And Summary Here For UPSC As Well As For Other Competitive Exams .The Eco Survey of India is the flagship annual document of the Ministry of Finance, Government of India. The Department of Economic Affairs, Ministry of Finance presents the Survey in the Parliament every year, just before the Union Budget. It is prepared under the guidance of the Chief Economic Adviser of India. This document is presented to both Houses of Parliament during the Budget Session.
The first Eco Survey of India was presented in 1950-51 as part of the Union Budget. After 1964 it was separated from the Budget and presented each year during the Budget Session before the presentation of the budget. The document is non-binding. Nevertheless, is constructed and presented each year due to its significance.
Economic Survey UPSC 2021 Pdf Download | Highlights | Summary | Notes
|Document Name||Economic Survey|
|Finance Minister||Nirmala Sitaraman|
|Important For||All Competitive Exams | UPSC 2021|
|Medium||English & Hindi|
|Release Date||31 January 2021|
|Number Of Booklets||Two|
|Download Links For Both Volumes||Volume 1 | Volume 2|
What Is Economic Survey ?
- A day prior to the annual budget presentation, the Department of Economic Affairs of the Ministry of Finance will present the Economic Survey — a flagship annual document that reviews the development in the Indian economy over the past fiscal year.
What Is Economic Survey 2021 Release Date ?
- The government will present Budget 2021 on February 1 this year.
- Last year, the Economic Survey 2019–20 was presented during the Budget session in the parliament on January 31 by Finance Minister Nirmala Sitharaman and prepared under Krishnamurthy Subramanian, the Chief Economic Advisor to the Government of India.
- This year Also Economic Survey 2021 Would Be Presented On 31st January 2021 .
Economic Survey 2021: Top 10 Highlights
1. Advice To The Government: Keep Up The Spending! – The Economic Survey has batted for a continued expansionary fiscal stance by the government to ensure that growth returns to pre-Covid levels. A recovery in growth will boost revenue collections and help India get back on a sustainable fiscal path, it said.
2. Economy To Go Past Pre-Covid Levels In Two Years – A rebound in economic activity and the government’s reforms can help the Indian economy go past its pre-Covid level in two years, the survey said. Further upside is also possible if economic activities normalise sooner due to the vaccine rollout.
3. Higher Growth Will Keep Debt In Check – The survey tried to cast away doubts about India’s debt levels saying that as long as GDP keeps growing, the country won’t have to worry about debt. The survey argues that over the last two-and-a-half decades, higher GDP growth causes the ratio of debt-to-GDP to decline in the case of India. The reverse, however, is not true, it said.
4. Indian Banking Needs An Asset Quality Review 2.0 – There is need for a fresh asset quality review of Indian banks as soon as the Covid-19 relief measures are lifted, the survey suggested. The chief economic adviser called for a clean-up of bank books to ensure mistakes of the past aren’t repeated.
5. In Support Of The Farm Laws – The Economic Survey has said that the new farm laws, which are being widely opposed by farmer groups, will be beneficial for small and marginal farmers and herald Indian agriculture in a new free-market era.
6. An Eye On Core Inflation For Policy Making – The survey has suggested that a greater focus on core inflation is warranted to drive policy-making. It said that the sole focus on CPI inflation to set monetary policy may not be appropriate for four reasons.
7. Why Bangladesh Is Beating India At Exports – In the past decade, Bangladesh’s exports have grown at 8.6% annually while India’s remained stuck at 0.9%. That outperformance is because Bangladesh is exporting commodities where it has a competitive advantage.
8. India Can’t Just Rely On ‘Jugaad’ – The Economic Survey made a case for higher research and development spending by the private sector to boost India’s innovations. Relying on “jugaad innovation” risks missing the crucial opportunity to innovate our way into the future, the survey said.
9. Pointing To A Problem Of Overregulation – More than lack of compliance or regulatory standards, India’s administrative process is suffering from overregulation, the survey noted. The root case is the government’s approach is one that attempts to account for every possible outcome, it said.
10. A Regulator For Healthcare? – The survey recommended setting up a sectoral regulator, and a rating agency like body, to assess the quality of healthcare providers in the country. This, the survey said, will help tackle information asymmetries.
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