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Tirupati . lucknow . cuttack . patna NEARBY Economic Survey sets out blueprint for $5 tn economy ■ P rojects GDP growth for 2019­20 at 7%, an ■ B ats for private investment to help propel ■ S uggests moving the economy into a ‘virtuous improvement from last fiscal’s pace of 6.8% growth in demand, jobs and productivity cycle’ of savings, investments and exports Special Correspondent talk about is that investment CM to go on pilgrimage NEW DELHI is really critical; related to Digital is the with aam aadmi The Economic Survey 2019 that is that investment by the NEW DELHI presented by Chief Econom­ private sector cannot hap­ way forward Chief Minister Arvind ic Adviser (CEA) Krishnamur­ pen unless there is no crowd­ The Economic Survey has Kejriwal, Deputy Chief Minister Manish Sisodia and thy Subramanian focusses on ing out because of the go­ recommended that digital their families will join a fully moving to a “virtuous cycle” vernment,” the CEA said at a technology and the JAM government-paid pilgrimage of savings, investments and press conference. troika — Jan Dhan, for senior citizens to Vaishno exports to transform India Further, he said, implicit Aadhaar and Mobile — be Devi via train on July 20. into a $5 trillion economy in in the emphasis on private expanded to other welfare The pilgrimage will cover the the next five years. investment was the fact that schemes, citing their Delhi-Vaishno Devi-Jammu According to the survey, the government had and favourable impact on the corridor from July 20 to 24. India’s GDP is forecast to ex­ would stick to its fiscal con­ Mahatma Gandhi National CITY Ī PAGE 5 pand by 7% in fiscal 2019­20, solidation glide path. It has Rural Employment DDDDDDDDDDDDDDDDDDDDDDDDDDDDDD slightly higher than the 6.8% committed to a fiscal deficit Guarantee Scheme. Ī PAGE 15 Boy scolded for ordering in 2018­19. of 3.4% of GDP in 2019­20, earphones found dead In his preface to the sur­ and 3% each in the subse­ NEW DELHI vey, the CEA said the team quent two years. ‘Raise age for A 17-year-old boy was found had been guided by a “blue dead at his house allegedly sky” thought process, an un­ Fiscal glide path retirement’ after his father scolded him fettered approach to think­ “Implicit in the emphasis on for ordering Bluetooth India may have to raise the ing about the appropriate private investment, what we earphones, on Wednesday retirement age as the evening in south-west Delhi’s economic model for India. are also talking about is stick­ country sees a rapid Vasant Vihar. The family said “When the economy is in ing to the glide path, which Govt. can sell PSU land, reduce majority increase in the size of the that the boy was an a virtuous cycle, investment, over the last five years we elderly population over extremely talented sketcher productivity growth, job have done a very good job the next two decades due and was also good in studies. creation, demand and ex­ of,” Dr. Subramanian said. to the slowing down of the ports feed into each other “And, therefore, we antici­ stake to boost non-tax revenue: CEA population growth rate, CITY Ī PAGE 3 DDDDDDDDDDDDDDDDDDDDDDDDDDDDDD and enable animal spirits in pate that is the path we according to the Economic the economy to thrive,” the would continue on. We will T.C.A. Sharad raghavan was estimated in the interim 2018­19. This has been PSUs, many of them, are sit­ Survey. Ī PAGE 13 ‘New report on zoo survey’s authors wrote. “In be sticking to the fiscal path.” New delhi Budget presented by then Fi­ slashed to ₹13.16 lakh crore, ting on large pools of land irregularities a cover-up’ contrast, when the economy Moving the economy into The government can sell nance Minister Piyush Goyal from the ₹14.84 lakh crore which can be monetised,” NEW DELHI is in a vicious cycle, modera­ a virtuous cycle would re­ land held by PSUs and po­ in February. Mr. Goyal’s inte­ estimated in the interim Dr. Subramanian told The A ‘Detroit of Former Member Secretary of tion in these variables dam­ quire the adoption of certain tentially reduce its majority rim Budget pegged the go­ Budget. Hindu. “There is also an op­ the Central Zoo Authority D.N. Singh, whose report in pen each other and thereby practices and norms on data, stake in some companies to vernment’s receipts in 2018­ portunity for greater returns EVs’ in India 2016 had found multiple dampen the animal spirits in legal reforms and policy cer­ make up for the significant 19 at ₹17.2 lakh crore, while Many avenues from divestment.” Regarding irregularities in the Delhi zoo, the economy.” tainty, and some micro­eco­ shortfall in tax revenues, the Economic Survey’s pro­ There are several avenues disinvestment, Dr. Subrama­ With the right policies, told The Hindu that a new In his first Survey, Dr. Sub­ nomic aspects such as boost­ Chief Economic Adviser visional actual figures show for the government to in­ nian made the somewhat one of India’s cities could report on the irregularities in ramanian highlighted the ing MSMEs and reducing the (CEA) Krishnamurthy Subra­ this will be only ₹15.6 lakh crease its non­tax revenue, radical suggestion that the become the ‘Detroit of the zoo is a “cover-up”. fact that private investment cost of capital, he said. manian said on Thursday. crore. the CEA said, including sell­ government could reduce its electric vehicles (EVs),’ the was a key driver for demand, According to the figures in The main reason for this ing land held by PSUs and in­ holdings in some PSUs to be­ Survey said. The country C ITY Ī PAGE 4 CONTINUED ON Ī PAGE 12 DDDDDDDDDDDDDDDDDDDDDDDDDDDDDD capacity, labour productivi­ the Economic Survey 2019, sharp downward revision is creasing disinvestment. low the majority stake of 51% is aiming at a sales of ty, new technology adop­ BLUE-SKY VISIONS Ī EDITORIAL the government is expected a commensurate reduction “The non­tax revenues have of direct control. 60­70 lakh units of EVs, F RIDAY REVIEW tion, and for job creation. O NLY TALL CLAIMS, NO VISION, to receive as much as ₹1.6 in the tax revenue the go­ a significant potential to ex­ including cars and buses, Ī 8 PAGES (TABLOID) “What we have tried to SAYS OPPOSITION Ī PAGE 13 lakh crore less than what vernment expects to earn in pand, especially because our CONTINUED ON Ī PAGE 12 by 2020. Ī PAGE 15 Indrani allowed to turn approver in INX case ArcelorMittal’s Kulbhushan Jadhav case bid for Essar verdict on July 17: ICJ She will now record her statement before a metropolitan magistrate Steel approved NIRNIMESH KUMAR band Peter Mukherjea in Promotion Board’s (FIPB) Special Correspondent He was sentenced to death by a Pakistani military court New Delhi connection with the murder clearance to the INX Media New Delhi A special court here on of her daughter, Sheena Bo­ for receiving overseas funds The National Company Press Trust of India against Pakistan for denying India and Pakistan submit­ Thursday allowed former ra. to the tune of ₹305 crore in Law Appellate Tribunal on New Delhi consular access to Mr. Jad­ ted their detailed pleas and director of INX Media, In­ 2007 when P. Chidambaram Thursday approved steel The Hague­based Interna­ hav. India challenged the responses. drani Mukerjea, to turn ap­ Facing trial was the Finance Minister. tycoon Lakshmi Mittal­led tional Court of Justice on “farcical trial” by the mili­ India based its case on prover in a corruption case They are facing trial for al­ Later, the Enforcement ArcelorMittal’s ₹42,000 Thursday said it will deliver tary court against Mr. Jad­ two broad issues — breach of against the company. legedly conspiring to kill Bo­ Directorate lodged a money crore bid for the acquisi­ on July 17 its verdict in the hav. Vienna Convention on con­ She had moved an appli­ ra, Ms. Mukerjea’s daughter laundering case in the mat­ tion of bankrupt Essar case relating to Kulbhushan The ICJ said a public sit­ sular access and the process cation to turn approver from an earlier relationship, ter under the Prevention of Steel. Jadhav, who is on death row ting will take place at 3 p.m. of resolution. It also urged seeking pardon and promis­ in April 2012. Money Laundering Act. The tribunal, however, in Pakistan. (6.30 pm IST) on July 17 at the ICJ to annul Mr. Jadhav’s ing help in the probe. Fol­ Indrani Mukerjea The CBI had last year ar­ The probe agency’s alle­ modified the ‘Resolution Mr. Jadhav, a retired In­ the Peace Palace in The death sentence and order lowing the court’s approval, rested Mr. Karti Chidamba­ gation against Mr. Karti Chi­ Plan’ submitted by Arce­ dian Navy officer, was sen­ Hague, during which the his immediate release, say­ she will now record her Chidambaram’s son Karti ram in the INX case. He was dambaram is that he de­ lorMittal to safeguard the tenced to death by a Pakista­ President of the Court will ing the verdict by a Pakistani statement before a Metro­ Chidambaram is also an ac­ later granted bail.