Economic Survey 2019-20: 4 crore Well-paid Jobs by 2025 and 8 Crore by 2030

Economic Survey 2019-20: Economic Survey for 2019-20 was presented by the Finance Minister Nirmala Sitharaman in both Houses of Parliament. Survey says India has unprecedented opportunity to chart a China-like, labour-intensive, export trajectory.

By presenting the Economic Survey 2019-20, government has made it clear that it is going to focus on employment and creating jobs for the youth of the country. By integrating “Assemble in India for the world” into Make in India, India can utilise its possibilities of creating jobs in the coming year. 

The Economic Survey 2019-20 has displayed the government move to  Keeping aside all the speculation with several challenges, the Indian economy is expected to grow 6-6.5 percent in 2020-21. 

The Economic Survey is used to serve as the report card of the performance of the government on the overall front. By the way, the basic theme for the Economic Survey is 'Wealth Creation' and the mint of Economic Survey is displaying the major ten new ideas as how to fulfil this wealth creation goal.

Survey says India has unprecedented opportunity to chart a China-like, labour-intensive, export trajectory.

By integrating “Assemble in India for the world” into Make in India, India can:

Raise its export market share to about 3.5 % by 2025 and 6 % by 2030.

Create 4 crore well-paid jobs by 2025 and 8 crore by 2030.

Exports of network products can provide one-quarter of the increase in value added required for making India a $5 trillion economy by 2025.

Survey suggests a strategy similar to one used by China to grab this opportunity:

Specialization at large scale in labour-intensive sectors, especially network products.

Laser-like focus on enabling assembling operations at mammoth scale in network products.

Export primarily to markets in rich countries.

Trade policy must be an enabler.

Survey analyses the impact of India’s trade agreements on overall trade balance:

India’s exports increased by 13.4 % for manufactured products and 10.9 % for total merchandise

Imports increased by 12.7 % for manufactured products and 8.6 per cent for total merchandise.

India gained 0.7 % increase in trade surplus per year for manufactured products and 2.3 % per year for total merchandise.