Economic Survey 2019 | WATCH: CEA K Subramanian Draws Beti Bachao-Beti Padhao And Swachh Bharat Analogy To Chart Future Economic Evolution

Economy

A day ahead of the Union Budget 2019, Finance Minister Niramala Sitharaman on Thursday released the Economic Survey 2018-19 which pegged India's economic growth at 7% in the Fiscal Year 2020.

Written By Monica Aggarwal | Mumbai | Updated On:

A day ahead of the Union Budget 2019, Finance Minister Niramala Sitharaman on Thursday released the Economic Survey 2018-19 which pegged India's economic growth at 7% in the Fiscal Year 2020.

Chief Economic Adviser Krishnamurthy Subramanian, while explaining the goals of the Economic Survey 2019, spoke about adoption of behavioral economics for the transformation of key campaigns including ‘Beti Bachao Beti Padhao' and ‘Swachh Bharat’ to ‘BADLAV’ and ‘Sundar Bharat' respectively among other changes.

Illustrating the accompalishments of the Swachh Bharat Mission, which was launched on October 2, 2014 with the motive to achieve universal sanitation coverage, the CEA presented the following charts showing the changes that have happened under the programme.

The below figure shows the greater coverage of the Swachch Bharat Mission in the individual households in the year 2018-2019. 

The graph shows more coverage of Open Defacation Free villages in the year 2018-2019 under the Swachh Bharat Mission:

CEA Subramanian further elucidated on the Beti Bachao, Beti Padhao (BBBP), launched on January 22 which utilised behavioural economics to address the issue of decline in Child Sex Ratio and related issues of empowerment of girls and women.

Presenting the chart which elaborate the sex ratio at birth from 2015-16 to 2018-2019, he spoke how the sex ratio between girl and boy child has significantly transformed due to the BBBP during the time span:

‘Beti Bachao Beti Padhao' to 'BADLAV'

The Economic Survey 2019 stated that the campaign has helped improving the child sex ratios in larger sections of society, particularly where the child sex ratio was poor. Taking the learning from the campaign, the Survey proposes to further the cause
of Gender equality. It suggests transformation of the 'Beti Bachao Beti Padhao' campaign to the slogan of BADLAV (Beti Aapki Dhan Lakshmi Aur Vijay-lakshmi) in order to enhance the contribution of women in the economical development and workforce.

'Swachh Bharat Mission' to 'Swasth and Sundar Bharat'

The Economic Survey further discussing about the accomplisments of the 'Swachh Bharat Mission' states that it has helped increase the percentage of villages that are Open Defecation Free and has enhanced access and usage of toilets.

Adding the the changes have helped in the improvement health outcomes as is seen in malaria and diarrhoea cases, the Survey proposes to incorporate the learning from this successful behavioural change, and develop a framework to use behavioural insights for a healthier India. Therefore, it suggests to develop the idea of "Swasth + Ayushman = Sundar" Bharat (healthy and beautiful India) from the Swachh Bharat Mission which would enhance labour productivity and enhance savings, and thereby investment.

Meanwhile, here are the key highlights of the Economic Survey tabled by Finance Minister Nirmala Sitharaman:

  • 7% GDP growth predicted in FY20 on stable macroeconomic conditions (vs 6.8% in the fiscal that has just ended)
  • January-March slowdown partly because of election-related uncertainty
  • Farmers may have produced less in FY19 on food price fall
  • NBFC stress reason for FY19 slowdown
  • India needs to grow at 8% to become a $5 trillion economy by 2025
  • Investment rate seems to have bottomed out, seen higher in FY20 on higher credit growth
  • Decline in the non-performing assets (NPAs) should help push the capital expenditure cycle
  • Accommodative monetary policy to help cut real lending rates - credit for the RBI
  • Government stood by the fiscal consolidation path
  • Greenshoots in investment seems to be taking hold
  • General fiscal deficit seen at 5.8 percent in FY19 against 6.4 percent in FY18
  • Oil prices seen declining

READ | BUDGET 2019 | Economic Survey Tabled In Parliament: 7% GDP Predicted In FY2019-20, Key Macro Takeaways From CEA Krishnamurthy Subramanian Here

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