Ambitious but achievable gains..! Bibek Debroy of EAC merrily welcomes the Survey, emphasizing over investment discipline

News Bharati    04-Jul-2019
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New Delhi, July 4: Merrily welcoming the Economic Survey report tabled by the Finance Minister in the upper house today, the Chairman of Economic Advisory Council to the Prime Minister, Bibek Debroy, said that the survey significantly lays down emphasis on fiscal consolidation and fiscal discipline and investments, especially private investments, as the growth driver.

 
Boosting the investment modules in well-functioning legal system, given its potential economic and social multiplier effect, the survey highlighted that the delays in contract enforcement and disposal resolution were arguably the single biggest hurdle to the ease of doing business in India.
 
Further highlighting the profound impact of introducing the Insolvency and Bankruptcy Code and the adoption of the Goods and Services Tax, the Survey reported that it had an improving impact on the Ease of Doing Business in India, with the country being one of the biggest improvers in the World Bank’s EoDB 2019.
 
The document also added that the scenario analysis of efficiency gains needed to clear the backlog in five years and suggested that the required productivity gains were ambitious, but achievable.