Economic Survey 2019-2020

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INTRODUCTION

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  ECONOMY Introduction India’s services sector can be broadly classified into two categories: contact-intensive and non-contact-intensive services. Contact-intensive services : trade, hospitality, transport, real estate, social, community and personal services. Non-contact-intensive services:   financial, information technology, professional, communication, broadcasting, storage services, public administration and defence services. Continue..
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CHALLENGES AND OPPORTUNITIES

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ECONOMY Challenges and Opportunities Skill Development Gap:  Despite initiatives like Skill India, there’s a shortage of digitally skilled workers, crucial for sectors like cybersecurity and enterprise management. Logistics and Infrastructure:  India’s potential to streamline transport via inland waterways is significant, akin to the Netherlands’ network handling 40% of international freight. Access to Finance:  Small and medium enterprises face financial access challenges; initiatives like Mudra Yojana aim to improve credit flow and streamline loan processes. Regulatory Reforms:  GST simplification, Start-up India, and the Real Estate Act are enhancing the business environment, with a push for single-window systems and digitization. Data Privacy and Cybersecurity:  Growing digitization necessitates robust data protection laws and cybersecurity measures, with the government promoting secure tech adoption. Inland Waterways Opportunity:  Kerala’s Kochi Water ...
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