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THE GIST of Editorial for UPSC Exams : 01 February 2020 (Unfounded optimism: On Economic Survey’s GDP forecast (The Hindu))
Unfounded optimism: On Economic Survey’s GDP forecast (The Hindu)
Mains Paper 3: Economy
Prelims level: GDP forecast
Mains level: Highlights the GDP forecast that based on economic survey
Context:
- As a report card-cum-blueprint for the future, Chief Economic Adviser (CEA) Krishnamurthy Subramanian’s Economic Survey 2019-20 is a mixed bag of interesting diagnosis combined with some optimistic prognostication.
Highlights about the forecast:
- Seven months after his maiden survey, he finds himself again having to assess the economy’s health and provide signposts for the agenda ahead.
- July projected real GDP growth rebounding to 7% this fiscal, acknowledges that 2019 was a difficult year for the global economy, including for trade and demand, and by extension a challenging period for the Indian economy as well.
- The Survey concedes..........................................
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Way ahead:
- To ensure smoother functioning of markets as creators of wealth, the Survey makes several policy prescriptions.
- It asserts that the Drug (Prices Control) Order of 2013 has failed to achieve its aim of making drugs affordable and needs to go. And the CEA wants a complete review of the policy on foodgrains, which he argues has made the government the largest “hoarder” thereby distorting these markets.
- All are suggestions that traders and market players, a key electoral
constituency, will cheer, but may be fraught with risks.
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General Studies Pre. Cum Mains Study Materials
Prelims Questions:
Q.1) Consider the following statements:
1. Mesothelioma is a form of cancer that occurs in the infection-fighting
cells of the immune system.
2. Asbestos exposure is the primary risk factor for mesothelioma.
3. Asbestos is a chemical by-product of talcum manufacturing.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 and 3 only
(c) 1 and 2 only
(d) All the above
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