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Highlights of government’s Economic Survey for 2019-20
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Following are the highlights of Economic Survey for 2019-20 (Apr-Mar) tabled in Lok Sabha by Finance Minister Nirmala Sitharaman today:

FISCAL HEALTH

  1. May need to relax fiscal gap aim FY20 to revive growth
  2. Need counter-cyclical fisc steps to up demand
  3. Counter-cyclical fisc steps to up consumer sentiment
  4. FY21 expected to pose challenges on fiscal front
  5. Food subsidy rationalisation key tool to fisc mgmt
  6. Pace of GDP growth recovery to impact revenue collection
  7. Apr-Nov indirect tax collections have been muted

DISINVESTMENT

  1. For aggressive disinvestment of PSUs
  2. Govt can transfer stake in PSUs as separate entity
  3. EconSurvey proposes holding co for listed PSUs
  4. Proposed holding co can divest stake in PSUs over time
  5. Must take up aggressive divestment to create fisc space

BANKING, INDUSTRY

  1. Seeing progress, albeit slow, in implementation of IBC
  2. Banks may remain risk averse unless IBC process speeds up
  3. Private invest may get crowded on higher govt infra spend
  4. Housing prices remain elevated
  5. Realtors must cut home prices to clear unsold inventory
  6. Greater home sales can clean up bank, NBFC balance sheets
  7. Consider ESOPs for public sector bank employees
  8. EconSurvey for use of tech like Big Data, AI in PSU bk credit moves
  9. EconSurvey for GST network-type body to aggregate data from PSU bks
  10. EconSurvey for representation of employees on board of PSU banks

MISCELLANEOUS

  1. EconSurvey pitches for "jettisoning" Essential Commodities Act
  2. Need to revise coverage, grain price in food security Act
  3. Room to further rationalise subsidies, especially food
  4. Need dynamic food grain distribution policy
  5. Moots food coupon/smart card for PDS grain transfers
  6. EconSurvey moots cash transfer of food subsidy
  7. Govt grain procurement policies crowding out pvt trade
  8. Farm debt waivers disrupt credit culture
  9. Unconditional debt waivers "a bad idea"
  10. Debt waivers' side effects exceed any short-term gains
  11. Disconnect in grain demand, supply on govt intervention
  12. Foodgrain demand, supply disconnect on govt intervention
  13. Must study areas of needless intervention in farm mkts
  14. Crop burning, construction waste major environment worry
  15. Govt intervention to boost wealth can undermine mkts
  16. Govt intrusion needless in many areas, undermines mkts

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