With an expected recovery in Indian Economic situation for the next financial year the Finance Minister Shri. P. Chidambaram in his annual survey statement pegged the Economy in 2013-14 may grow 6.1% to 6.7%, which is low in both 2011-12 and 2012-13 fiscal years( around 5%) due to the various external and internal factors.
According to Mr. Chidambaram the main reason for the slowdown can be viewed as the reduction in the growth of Services sector but there are other factors also such as the agricultural and industrial activities. As the Government of India recently making a path-breaking decision to allow the FDI in Retail is expected to pave way for the investment in new technologies in agricultural produce in India and their marketing, which is important for jobs creation, income growth and Food security.
The Survey calls for to focus on the various programme leakages and governance issues which are the main reasons for policy paralysis. Due to which the funds are not reaching the targeted beneficiaries of these programmes. To address this issue government is trying to implement the Direct Benefits Transfer( DBT) Scheme which will be linked to the Aadhaar Card.
The 12th Five year Plan’s focus is on ‘environmental sustainability’, India is on the right track. The main challenge for India is to make the key drivers and enablers of growth-be it infrastructure, the transportation sector, housing, or sustainable agriculture-grow sustainably.
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