ECONOMIC SURVEY 2014a15

ECONOMIC SURVEY 2014a15

by Ministry of Finance

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Overview

ECONOMIC SURVEY 2014a15 by Ministry of Finance

A flagship annual document of the Ministry of Finance, Government of India, the Economic Survey reviews the developments in the Indian economy over the previous twelve months, summarizes the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. This document is presented to both houses of Parliament during the Budget Session, tabled a day ahead of the Union Budget.

With detailed statistical data covering all aspects of the economyamacro as well as sectoralathe Survey provides an overview of key issues such as state of the Indian economy; challenges, policy responses, and medium-term outlook; fiscal policy and monetary management; financial intermediation and the role of markets; external sector, balance of payments, and trade; agriculture, industrial development and services sector; energy, infrastructure, and communications; human development, climate change, and public programmes; and India and the global economy. The annual Survey is widely read and used by policymakers, the corporate sector, private analysts and investors, academics, civil society, media, the international stakeholders of Indiaas economy, civil servants at the national and state levels, as well as scholars from around the world.

Product Details

ISBN-13: 9780199460182
Publisher: Oxford University Press
Publication date: 06/30/2015
Pages: 456
Product dimensions: 8.30(w) x 10.80(h) x 0.80(d)

About the Author

Ministry of Finance, Goverment of India

Ministry of Finance, Government of India.

Table of Contents

Volume 1
1. Economic Outlook, Prospects, and Policy Challenges
Introduction
Macroeconomic Review and Outlook
Inflation and Money
External Sector
Agriculture
The Growth-Fiscal Policy Challenge aWiping Every Tear from Every Eyea: The JAM Number Trinity Solution
Growth Private and Public Investment
The Banking Challenge
Manufacturing, Services and the Challenges of aMaking in Indiaa
The Trade Challenge
Climate Change
Empowering Women: Unleashing Nari Shakti
Cooperative Federalism and the Recommendations of the Fourteenth Finance Commission (FFC)
2. Fiscal Framework
Introduction and Summary
Background and History Lessons
Medium-Term Strategy
Short-Term Issues
Conclusions
3.aWiping Every Tear from Every Eyea: The JAM Number Trinity Solution
Introduction
Subsidising Whom?
The Case of Kerosene
The Case of Food
The Possibilities Offered by Cash Transfers
The JAM Number Trinity Solution
4. The Investment Climate: Stalled Projects, Debt Overhang and the Equity Puzzle
Introduction
Rate of Stalling and Stock of Stalled Projects
An Analysis of Stalled Projects
Balance Sheet Syndrome with Indian Characteristics
What is Impact of Balance Sheet Syndrome on Firm Equity?
Policy Lessons
5. Credit, Structure and Double Financial Repression: A Diagnosis of the Banking Sector
Introduction
Financial Repression on the Liability Side
Financial Repression on the Assets Side
A Comparative Analysis of Banking and Credit
Are Public Sector Banks Uniform in Performance?
Policy Implications
6. Putting Public Investment on Track: The Rail Route to Higher Growth
Introduction
Effects of Increasing Public Investment on Overall Output and Private Investment
The Case for Public Investment in Railways
Policy Recommendations ? Key Takeaways
7. What to Make in India? Manufacturing or Services?
Introduction
Desirable Features of Sectors That Can Serve as Engines of Structural Transformation
The Manufacturing Scorecard
The Service Scorecard
Summary Scorecards and Conclusions
8. A National Market for Agricultural Commodities ? Some Issues and Way Forward
Introduction
APMCs Levy Multiple Fees, of Substantial Magnitude, that are Non-transparent, and hence a Source of Political Power
Essential Commodity Act, 1955 vs APMC Act
Model APMC Act
Karnataka Model
Inadequacies of Model APMC Act
Alternative Ways of Creating National Market for Agricultural Commodities
Using Constitutional Provisions to Set Up Common Market
9. From Carbon Subsidy to Carbon Tax: Indiaas Green Actions
Introduction
Excise Duty on Petrol and Diesel as an Implicit Carbon Tax
How Does India Compare with Other Countries?
CO2 Emission Reductions from Petrol and Diesel Taxes and Coal Cess
Translating Coal Cess into Carbon Tax
Conclusions and Key Messages
10. The Fourteenth Finance Commission (FFC)aImplications for Fiscal Federalism in India?
Introduction
Major Recommendations of FFC
Implications of FFC Recommendations for Fiscal Federalism: A Way Ahead
Balancing Fiscal Autonomy and Fiscal Space
Caveats and Conclusion
Volume 2
1. State of the EconomyaAn Overview
Recent Growth Record
Aggregate Demand
Factor Shares in GVA
Per Capita Income
Public Finance
Prices and Monetary Management
External Sector
Outlook for 2015a16
Sectoral Developments
2. Public Finance
Fiscal Policy for 2014a15
Non-debt Receipts
Tax Revenue
Collection Rates
Tax Expenditure
Non-tax Revenue
Non-debt Capital Receipts
Trends in Expenditure
Plan Expenditure
Non-plan Expenditure
Subsidies
Interest Payment
Provisional Outcome in 2014a15 vis-A-vis BE 2014a15
Government Debt
Performance of Departmental Enterprises of the Central Government
Fiscal Performance of the States
Consolidated General Government
Outlook
3 Monetary Management and Financial Intermediation
Monetary Developments during 2014a15
Trends in Monetary Aggregates
Liquidity Management
Liquidity Conditions
Developments in Government Securities Markets
Bank Credit
Performance of Scheduled Commercial Banks
Financial Inclusion
Non-banking Financial Companies
Developments in Capital Markets
Insurance Sector
Pension Sector
4. External Sector
Global Economic Environment
Indiaas Merchandise Trade
Trade Policy
WTO Negotiations and India
Balance of Payments Developments
Foreign Exchange Reserves
Exchange Rate
External Debt
5. Prices, Agriculture and Food Management
Trends in WPI and CPI Inflation
Factors Causing Moderation in Inflation
Household Inflation Expectations
Agriculture and Food Management
Overview of Agricultural Sector
Area, Production, and Yield
Drivers of Growth
Major Schemes of the Government
Sustainability and Adaptability
Allied Sectors: Animal Husbandry, Dairying, and Fisheries
Food Management
Agri-marketing Reforms
Commodity Futures Market
Trade Policy
Agriculture Trade
Outlook and Challenges Ahead
6. Industrial, Corporate, and Infrastructure Performance
IIP-Based Industrial Performance
Industrial-Sector Performance Based on Revised GDP Estimates
Performance of Eight Core Industries
Comparative Position of India and World Manufacturing
Corporate-Sector Performance
Gross Capital Formation in the Industrial Sector
Credit Flow to the Industrial Sector
MSME Sector
CPSEs
FDI
Infrastructure PerformanceaSpecific Sectors
Power
Petroleum and Natural Gas
New and Renewable Energy
Coal
Minerals
Railways
Roads
Civil Aviation
Ports
Telecommunications
Urban Infrastructure
7. Services Sector
International Comparison
Indiaas Services Sector
Services GDP and Gross Capital Formation
State-wise Comparison of Services
FDI in Indiaas Services Sector
Indiaas Services Trade
Indiaas Services Employment
Major Services: Overall Performance
Major Services: Sector-wise Performance and Some Recent Policies
Tourism
Shipping
Port Services
IT and ITeS
Research and Development Services
Consultancy Services
Real Estate and Housing
Internal Trade
Media and Entertainment Services
8. Climate Change and Sustainable Development
Recent Scientific Findings from IPCC Fifth Assessment Report
Global GHG Emissions from Major Sectors and Countries
Indiaas Progress in Addressing Climate Change
International State of Negotiations: 20th Session of the Conference of Parties to UNFCCC
International Climate Finance Flows
International Carbon Markets
Sustainable Development
9. Social Infrastructure, Employment, and Human Development
Educational Challenges
Employment Matters
Towards a Healthy India
Poverty
Human Development: International Comparison
Fostering Inclusive Growth
Demographic Dividend and Related Policy Interventions
Trends in Indiaas Social-Sector Expenditure
Conclusion

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