31st Jan 2020 10:01:PM Editorials
Eastern Sentinel Arunachal News

A day before the annual budget, Economic Survey 2019-20 tabled by Union FM on Friday can actually be termed a dossier of dos and don’ts. Following the convention of appearing before national budget, this time too it has been presented as a report card to review the state of economic affairs during the preceding one year and its importance lies in the fact that besides making projections on important parameters concerning Indian economy, it always serves as a roadmap for the future. This time, interest was high with expectations whether it could show some guiding light particularly since the economy is struggling a lot. Besides making assessments of actually what happened during past year, it has cautioned the current government against excessive intervention in the market, calling them as reasons for “stifling economic freedom” even though “well-intentioned”. This is perhaps its most important part and it will be interesting to see how far expeditiously the caveats are transferred into actions.
There is little left to elaborate on current ailments of the economy. Reflections are almost everywhere and the irony is when common people have become real ‘victims’ of the slump and unemployment has gone out of control, the rich have only got richer. As per Oxfam report that hit the public domain just 10 days ago, richest 1 % of Indians have more than four times the combined wealth held by 95.3 crore citizens. The height of this economic inequality is itself a grim reminder of the economic environment that gives birth to this extreme and widening disparity. And as to give a wayout of it, where the seeker of solutions is none other than government itself, the Survey has been specific to underline that government interventions are actually resulting in subduing the market’s inherent ability to create wealth for common citizens, which is actually the need of the moment for economic revival, both in immediate and long term perspectives. It’s no wonder that Economic Survey 2019-20 has the theme of wealth creation, promotion of pro-business policies and most importantly strengthening of trust in economy which has come to near nil and amply reflected in deep apathies on part of corporate world to go for any fresh investments. A very striking observation has been, to achieve a GDP of $5 trillion by 2024-25, ‘ethical wealth’ creation will be the key along with spending of about $1.4 trillion on infrastructure alone.
It will not be difficult to decipher the inner messages the Survey tries to deliver. It has done its part by advising what needs to be done and what not. Actions are awaited and the budget today will perhaps speak a lot about the nation’s economic future that lies ahead.


Kenter Joya Riba

(Managing Editor)
      She is a graduate in Science with post graduation in Sociology from University of Pune. She has been in the media industry for nearly a decade. Before turning to print business, she has been associated with radio and television.
Email: kenterjoyaz@easternsentinel.in / editoreasternsentinel@gmail.com
Phone: 0360-2212313

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