The Centre will conduct a massive Economic Survey which, for the first time, will include hawkers, vendors, and small stall holders.
The exercise will reportedly be done in the scale of the population survey. It is being looked as an exercise to gauge the true economic potential of the country that includes jobs that are not documented and thus not reflected in various studies
During the Lok Sabha polls, the Opposition had repeatedly accused the Narendra Modi government of failing create jobs and drive the economy. BJP’s rival parties had also jeered at PM Modi’s remarks to count street vendors as self-employed people working with dignity to earn a living.
More than 25 crore households and 7 crore establishments are expected to fall into the purview of the massive survey exercise. The process is likely to begin by the end of this month and the reports are expected to be out in 6 months.
An authentic Economic Survey undertaken on a large scale helps the government analyse and review the developments in the economy as well as assess the performance of various programmes, schemes and policy initiatives.
Simultaneously, taking note of the prevailing economic scenario, Prime Minister Narendra Modi on Wednesday also constituted two new cabinet committees to spur economic growth, investment and employment.
A five-member “Cabinet Committee on Investment and Growth” will brainstorm on various steps needed to push growth momentum in the economy and increase investments in key economic sectors including infrastructure and agriculture. Headed by PM Modi, the Committee on Investment and Growth includes Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Road Transport and Highways and of MSME Minister Nitin Gadkari and Railway Minister Piyush Goyal.
The development comes in the wake of government announcing the third straight fall in quarterly growth to 5.8 per cent in the first three months of the FY 2018-19 making it the period of slowest economic growth in 17 quarters. China registered 6.4 per cent growth in the first quarter.
The second panel, a 10-member “Cabinet Committee on Employment and Skill Development”, is expected to explore all possible options to create more jobs. Headed by PM Modi, the committee besides Shah, Sitharaman and Goyal also includes Minister of Agriculture, Rural Development and Panchayat Raj Narendra Singh Tomar, HRD Minister Ramesh Pokhriyal ‘Nishank’, Petroleum Minister Dharmendra Pradhan, Minister Skill and Entrepreneurship Mahendra Nath Pandey and Ministers of State Santosh Kumar Gangwar (Labour) and Hardeep Singh Puri (Housing and Urban Affairs).