New Delhi: The Economic Survey on Thursday is likely to come up with 8 to 9 out-of-box ideas with regard to revival of overall growth in agriculture, manufacturing, and exports, on infrastructure, as well as NPAs including bank recaps, employment and capital market and public debt. NBFCs (non-banking finance companies) and liquidity in the credit system are also set for higher importance given their manifestation in the slowdown demanding due attention. NBFCs have been under liquidity pressure after the series default by Infrastructure Leasing & Financial Services (IL&FS) in September last year. There is likely a complete chapter on wages and labour reforms needed to push employment and raise incomes of the poor though the Chief Economic Advisor to the Modi government has, in the past, has not exactly been talking of unemployment as an issue. But the Survey has, sources said, tried to find out the holes in the current economy as well, not toeing the standard line. On agriculture, there are likely to be steps on increasing disposable incomes for the farmers and their produce through minimum support price (MSP) raises. Sources said Krishnamurthy Subramanian, the Chief Economic Advisor, may try to give not-to-common ideas on these key… Read full this story
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