Companies that have the potential to grow and create employment need nurturing, says Economic Survey.
The conclusions in the study, "India's Demography at 2040: Planning Public Good Provision for the 21st Century," will have major implications for many companies
To achieve the target of $10 trillion economy size by 2032, a robust and resilient infrastructure system is required, supported by adequate private investments
The survey said though there has been improvement in tax to GDP ratio over the last six years, gross tax revenues as a proportion of GDP has declined by 0.3 percentage points in 2018-19 over 2017-18
Chidambaram, who had four stints as finance minister, said the survey didn't have sector-wise growth projections.
Economic Survey says government must plan for pensions and other retirement provisions.
The key suggestions include lowering effective corporate tax rate, bringing down cost of capital and simplifying regulatory and tax framework for foreign investment funds
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Deregulating labour law restrictions can create significantly more jobs, as seen by the recent changes in Rajasthan when compared to the rest of the states, the survey noted
The Eco Survey analyses the trends in agricultural and industrial production, infrastructure, employment, money supply, prices, imports, exports, foreign exchange reserves ahead of Union Budget 2019
The mission mirrors the national developmental priorities by focusing on gender equality and women empowerment, the survey said
As per the Survey, no major labour reforms were initiated by the states in between the years 2007 and 2014
The survey said India has the potential for $30 billion annual investment in renewables in next decade and even beyond that in view of its ambitious target of having 175 GW of clean energy by 2022
The Survey, which was tabled in Parliament by Finance Minister Nirmala Sitharaman, also said the country can emerge as a hub of EV manufacturing
Retail inflation during the first month of the current fiscal stood at 2.9 per cent, down from 4.6 per cent a year ago
The survey also states that policymakers at the highest level must monitor the economic policy uncertainty index on a quarterly basis
The projection comes a day before the government is due to unveil its budget for the 2019/20 year.
The Economic Survey for 2018-19 asserted that benefits of creating data as a public good can be generated within the legal framework of data privacy
The Survey, however, cautions that the country might face a challenge from an economic slowdown impacting tax collections amid rising state expenditure on the farm sector
Real gross domestic product growth for the fiscal year started April 1 is projected at 7%, the Finance Ministry said in its annual Economic Survey report