Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Economic Survey: Focus on wealth of big business than wealth and health of nation -Surajit Das

Economic Survey: Focus on wealth of big business than wealth and health of nation -Surajit Das

Share this article Share this article
published Published on Feb 7, 2020   modified Modified on Feb 7, 2020
-Newsclick.in

The Economic Survey 2019-20 indicates that the government’s broad policy direction will remain the same -- of neglecting the social sector and serving the interests of the big businesses.

This year’s Economic Survey begins with emphasising the importance of wealth of nations (inspired by Adam Smith) and depicts long-term contributions of the US, China, India and various other countries in world GDP (gross domestic product). The shares of China and India have gone up in the recent past, as these two economies have grown at a faster rate than the growth rate of World GDP.

From wealth of nation, the Survey comes down to wealth of top 100 entrepreneurs of India, and states that the salary of the employees working with the firms owned by those entrepreneurs is positively correlated with the increase in entrepreneurs’ wealth in last 10 years (2009-2019). The cross-section elasticity is reported to be approximately 0.7, meaning that if the increase in wealth (or net profit) for one entrepreneur has been 100% higher than the increase in wealth of some other entrepreneur, the total salary component of the employees working in the firms owned by the first entrepreneur would be less than 100% higher (68% higher) than the total salary bill of the firms owned by the second entrepreneur. The chief economic advisor of Ministry of Finance, Krishnamurthy. V. Subramanian, thinks that this is “India’s ‘tryst’ with socialism”.

Please click here to read more.

Newsclick.in, 1 February, 2020, https://www.newsclick.in/Economic-Survey-Focus-Wealth-Big-Business-Wealth-Health-Nation?fbclid=IwAR14TIyAaN5uWy0IzWKi7EzeN3D4VQhzlxlDE_t7R6BTQyYTT6qPVGfCUhE


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close