Economic Survey: 'Counter-cyclical fiscal policy' to boost demand justified
Economic Survey: 'Counter-cyclical fiscal policy' to boost demand justified The Survey places primary blame for the slowdown on global factors, saying ‘the deceleration of India’s GDP growth since 2017 has tracked the decline in world output’ Current Affairs :The Economic Survey for 2019-20, introduced to Parliament on Friday, spread out a motivation for riches creation in India and looked to ground star riches and ace business monetary approaches as far as India can tell and philosophical conventions. In the Survey’s prelude, Chief Economic Advisor K V Subramanian uncovered the Survey’s inspiration: Prime Minister Narendra Modi’s discourse on Independence Day 2019, which featured the commitments of riches makers and that “solitary when riches is made will riches be appropriated”. Subramanian contends that advancement is an arrival to India’s “underlying foundations” as a market economy, and along these lines advocates different riches boosting changes in the Survey. F...