1 Feb, 2020

  • Wealth creation - (Economy)
  • Entrepreneurship and Wealth Creation (Economy)
  • Government intervention hindering free market (Economy)
  • Network Products Export (Economy)
  • Ease of Doing Business (Economy)
  • Privatisation (Economy)
  • Bigger Banks to enable growth (Economy)
  • CORONAVIRUS: WHO Emergency (Social Issues)
  • THALINOMICS (Economy)

Prelims Quiz


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    Essential Commodities Act is outdated, must go. 

    The Centre’s imposition of stock limits in a bid to control the soaring prices of onions over the last few months actually increased price volatility, according to the Economic Survey 2019-20.

    • Highlights in Survey

    Needed fewer regulations. 

    India needs to work on improving the ease of doing business, especially the ease of starting business, registering property, paying taxes, or enforcing contracts, according to the Economic Survey.

    • Cumbersome norms

    Thalinomics: the formula behind one square meal.

    For the average worker in India’s organised manufacturing sector, the affordability of a plate of vegetarian food — comprising rice or roti, dal and sabzi — has improved 29% since 2006-07, according to Thalinomics, a take on the economics of food by the Economic Survey.

    Bigger banks needed for $5 trillion economy.

    The country will need much bigger banks to become a $5 trillion economy, the Economic Survey 2019-20 said.

    Privatisation: Survey suggests new vehicle.

    The Economic Survey has aggressively pitched for divestment in public sector undertakings (PSUs) by proposing a separate corporate entity wherein the government’s stake can be transferred and divested over a period of time.

    • Independent board

    WHO declares coronavirus outbreak a global emergency.

    WHO has declared novel Coronavirus as ‘public health emergency of international concern’ (PHEIC).

    • About PHEIC
    • What it means?
    • PHEIC declared so far

    A chance to chart China-like export trajectory. 

    The Economic Survey recommends acceleration of ‘export-led growth’ strategy in the present international trade scenario.

    India has low rates of formal entrepreneurship.

    The Survey prescribes boosting the entrepreneurship as a way to wealth creation in the country.

    • Entrepreneurship to create wealth

    CEA sees growth rebounding to 6%.

    The Economic Survey highlights that India should focus on wealth creation for better wealth redistribution.  Accordingly the Survey makes a case for free market and reduced government intervention.