Survey Calls for Focus on Agriculture
NEW DELHI: To sustain the economic growth trajectory, India Inc pitched for focus on rapidly improving human capital and agricultural productivity, while cheering the GDP growth projection of 7-7.5 per cent in 2018-19 laid out by the Economic Survey.
CII Director General Chandrajit Banerjee said, "The Survey provides new ideas for building a positive momentum for growth in the coming year and for faster growth thereafter. It delineates a long-term vision for powering the emergence of a New India which is both transformative and socially inclusive."
The Survey has rightly alluded that the chief areas of policy focus in the medium term are raising farm productivity, employment, especially for women; and educated and healthy labour force, he added.
Assocham President Sandeep Jajodia said, "Economic Survey for 2017-18 has brought out areas of concern such as rising non-performing assets of the public sector banks and has underlined the need, rightly so, for putting maximum emphasis on creating new jobs, agriculture and education."
PHD Chamber of Commerce President Anil Khaitan said the focus of the government in the medium term on employment, education and agriculture is encouraging and would foster a sustainable economic environment, going forward.
The Survey tabled in Parliament by Finance Minister Arun Jaitley pegs India to regain fastest growing major economy tag, with the country's GDP estimated to grow between 7-7.5 per cent in 2018-19. It also estimates the GDP to grow 6.75 per cent in the current fiscal.
Devendra Kumar Pant, Chief Economist at India Ratings & Research said, "Although an uptick in 2018-19 growth has not been ruled out, it is more likely towards the lower end of the range. Evolving domestic and global conditions can swing growth in any direction."