New Delhi

The Economic Survey 2023-2024, released on Monday, emphasizes that after a decade of major reforms, the government should now focus on grassroots reforms and improving governance structures to ensure sustainable and inclusive growth. The past decade saw significant reforms aimed at enhancing economic health, easing supply-side constraints, and meeting growth aspirations during the ‘Amrit Kaal’ period.

The survey also notes the global trend towards self-reliance due to trust deficits and external shocks, suggesting a more balanced approach between inward and outward policies. With global crises limiting policy options, it is crucial for policymakers to navigate trade-offs carefully. Successful implementation of these reforms will require collaboration with state governments, the private sector, and civil society.

BOX

The survey outlines six key growth areas for ‘Amrit Kaal’:

1. Boosting Private Investment: Prioritize increasing private sector investment.

2. Supporting MSMEs: Expand and strengthen India’s small and medium-sized enterprises.

3. Enhancing Agriculture: Unlock agriculture’s potential for future growth and remove policy barriers.

4. Financing Green Transition: Secure funding for sustainable and green initiatives.

5. Bridging Education and Employment: Address gaps between education and job market needs.

6. Building State Capacity: Enhance state capabilities to support and accelerate progress.