Hello
The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
The secondary sector, which consists of manufacturing, construction, power, gas, water supply and other utility services, had grown at a record 8.8 per cent.
It is the nature of every government to forget the lessons laid out in previous surveys when the new report is published.
Thali-nomics, as the Survey says, is an attempt to quantify what a common person pays for a Thali across India.
The Survey this year has been printed in lavender colour - the same as the colour of the new Rs 100 currency note, the oldest currency note in circulation in the country.
Tourism showed signs of improvement after the floods and landslides that hit Kerala in 2018 and 2019, but the economic survey showed that Kerala needs to do more to emerge as the top destination in India.
Presenting her first Union Budget, Finance Minister Nirmala Sitharaman, proposed to raise effective tax increase of 3 per cent for those with incomes over Rs 2 crores and an increase of 7 per cent for those with incomes over Rs 5 crore.
Alternatively, the Survey recommended sale of some datasets to analytics agencies to help them predict demand, discover untapped markets or innovate new products.
India's population is expected to grow under 0.5 per cent during 2031-41 due to decline in fertility rate and increase in life expectancy, according to the survey.
Debroy further said the EAC-PM welcomes the emphasis of the Survey on fiscal consolidation, fiscal discipline and investments.