In this blog, we will see how to read the chapters 5 to 10 in the Economic Survey 2016-2017.
Chapter 5 –Fiscal Framework: The World is Changing, Should India Change Too?
Advanced countries have embraced fiscal activism, giving a greater role to counter-cyclical policies and attaching less weight to curbing the debt stock. But India follows a different approach. Read ‘why’ from this chapter. Ignore data, tables and graphs. Just note down the core points.
Chapter 6 -Fiscal Rules: Lessons from the States
This chapter talks about the fiscal position of the states. Although the states achieved their fiscal targets, the chapter critically examines the role of FRA- Fiscal Responsibility Legislation and also the other factors which lead to states’ progress. You can ignore the huge data and graphs.
Chapter 7 – Clothes and Shoes: Can India Reclaim Low Skill Manufacturing?
The Economic Survey has identified two sectors which are labour intensive. They can provide jobs to millions as well as increase our exports earnings.
These two sectors are crucial to determine where Indian will position itself in the world market in terms of manufacturing.
And these two sectors are-
A very interesting chapter indeed !
Focus on valid points and ignore huge data. The chapter also lists down challenges in the road ahead.
Chapter 8 – Review of Economic Developments
In this chapter , you will find a lot of economic indicators. Note them down, trace their rise/fall and also the reason behind the rise/fall. An example is given below- FPI fell down in the last year and its reason is given.
There are other indicators like inflation, exports, fiscal deficit, etc
Also follow box items. They may carry important facts for the exam. May be a scheme/policy,etc.
India’s green actions– This subheading has a list of steps taken by the government in the area of sustainable development.
Chapter 9- Universal Basic Income: A Conversation With and Within the Mahatma
This chapter is important because it discusses a new idea called ‘Universal Basic Income’
Your preparation should be able to help you answer these questions.
Chapter 10- Income, Health, and Fertility: Convergence Puzzles
Read through this chapter. It carries a perspective and the assumptions behind it .Learn the definition of important terms like infant mortality rate, fertility rate, etc
To read more,
Importance of Economic Survey for UPSC exams- Prelims and Mains
Economic Survey 2016-2017 –Chapter 1 to 4
Stay tuned for the final part(Part 3) on Economic Survey.