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.
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.
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.
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: