Prannoy Roy and a panel of experts analyze the survey of Economic Survey 2021.
Finance Minister Nirmala Sitharaman on Friday produced the Economic Survey on February 1.
She describes the state of the economy ahead of the Budget.
The Economic Survey has foreseen a “V-shaped” recovery for the Indian economy and a real GDP increase of 11 percent in 2021-22, on the back of the roll-out of an extensive vaccination drive against the coronavirus.
Prannoy Roy and a panel of experts analyze the survey and deliberate what major decisions need to be drawn to bring the economy on an increasing trajectory.
The highlights of Dr. Prannoy Roy’s analysis as below:
Dr. Arvind Virmani: At the outbreak, the scientific knowledge was very, very poor. The statistics now on the pandemic, firstly compared to all developing countries, per capita case and death are much lower.
Where diverse countries are having 2nd and 3rd peaks, ours is going downwards. But we can’t diminish the guards.
We need to furnish incentives for a better-quality filtration system. We need to be careful till 70% of our people.
Yamini Aiyar: The survey against the backdrop of a very trying time for the Indian economy and its people.
In that context, no doubt the lockdown was swift and effective as there was a complete freeze on most of the economy but the consequences of that when you close an economy for saving lives where most of the people are employed in the informal sector, we need to ask what saving lives mean?
“In the first quarter we had a world record, we went down almost 24%.
It is very difficult to recover from a drop so enormous. Frankly, 7-7.5% isn’t that bad seeing how terrible we were”: Dorab Sopariwala, Editorial Advisor, NDTV.
Good: India’s V-shaped recovery; Worrying: India will be behind developing countries in 2021.
Prannoy Roy: This was one of the most delicate economic surveys because of the challenges we faced in the pandemic. If you see the survey, it shows India’s response to the pandemic.
(Except for the headline and some alternations in the body, nothing is edited as the post is from a syndicated feed)