1. Entire economic survey coverage:
झुलासाता जेठ मास
शरद चांदनी उदास
सिसकी भरते सावन का
अंतर्घट रीत गया
एक बरस बीत गया
सीकचों मे सिमटा जग
किंतु विकल प्राण विहग
धरती से अम्बर तक
गूंज मुक्ति गीत गया
एक बरस बीत गया
पथ निहारते नयन
गिनते दिन पल छिन
लौट कभी आएगा
मन का जो मीत गया
एक बरस बीत गया
Relevance: Truly, a whole year has passed by and we have a fresh bunch of projections, estimates and promises by the govt in the Economic Survey 2012-2013. I recommend all readers to go through the complete survey to get an insight into the whole economic scenario, challenges posed and opportunities available in the coming fiscal.
My picks for the day are:
–> GDP growth rate projection has been kept at 7.6% (in this context know the difference between GDP, GNP, NNP, NDP, GNI, GDP(Factor cost), GDP deflator etc.)
–> Fiscal deficit is likely to go down to 4.1% of GDP (Do you know the differences between fiscal deficit, budget deficit, primary deficit, trade deficit and twin deficit?)
–> Demographic dividend: India will be the youngest nation by 2020 with an average age of 29 years.
–> Life expectancy increased to 65.4 yrs still lower than China(73.5),Norway(81.1),World Average(69.8) etc.
–> The survey advocated to raise the FDI limit in multi brand retailing in a phased manner.
–> New Telecom Policy is going to be released soon which aims at increasing the Teledensity, broadband penetration, doing away with roaming, facilitating MNP etc.
–> The survey pointed out an urgent need to curb the menace of corruption by punishing the culprits and protecting the whistle blowers.
–> In education sector there is a need to ensure access along with equity and excellence and for achieving these objectives, survey recommended student loans instead of education subsidies presently given to the poor students.
–> There is an urgent need to arrest fiscal deficit, rupee volatility, inflation and CAD to raise the all time low business sentiments.
–> New funding mechanisms like Private equity, venture capitalists, pension and sovereign funds etc. are proposed to bridge the widening “infrastructure deficit”.
–> The survey strongly pitched for rationalising the fuel subsidies which currently hovers around 40000 crores for the last fiscal. (Read recommendations of Rangarajan committee and Kirit Pariksh committee for more information)
2. Two documents: Pg10 and Worried reserve bank: Pg16
Relevance: RBI’s mid quarter monetary policy review is always a one important document worth reading. Make sure you know all the concepts, terms etc involved.
3. Dealing with Sri lanka: Pg10
Relevance: A good read on the issue.
4. Taliban breaks contacts: Pg14
Relevance: A major blow for the Americans who are now keen in finding a political solution to the mess they have created in the Afghanistan.
Clue: Know about the Operation Enduring Freedom, ISAF, John Allen, Northern Distribution Network etc.
5. Other potential 2 marker: Governor BL Joshi(Pg13).
I found only these items useful in Friday’s paper. If you could spot some thing more which is relevant to CSE please feel free to post in comments section.