Lok Sabha Question No. 4020 (UNSTARRED), answered on 2019-07-17
Subject: Macroeconomic Indicators
Ministry: STATISTICS AND PROGRAMME IMPLEMENTATION
Asked by: Maneka Sanjay Gandhi

## GOVERNMENT OF INDIA

## MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION

LOK SABHA UNSTARRED QUESTION NO. 4020 TO BE ANSWERED ON 17.07.2019

## MACROECONOMIC INDICATORS

4020. SHRIMATI MANEKA SANJAY GANDHI:

Will the Minister of STATISTICS AND PROGRAMME IMPLEMENTATION be pleased to state:

- (a) the reasons as to why out of fifteen macroeconomic indicators ten are in red i.e., below the five year average trend;
- (b) the  steps  taken/being  taken  by  the  Government  in  this  regard; and
- (c) the measures taken by the Government to restore the confidence in the economy if there is no such crisis?

## ANSWER

MINISTER  OF  STATE (INDEPENDENT  CHARGE) OF  THE  MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION AND MINISTER  OF  STATE (INDEPENDENT  CHARGE) OF  THE  MINISTRY OF PLANNING (RAO INDERJIT SINGH)

- (a):  The  macro-economic  indicators  released  by  this  Ministry  are Gross Domestic Product (GDP), Index of Industrial Production (IIP), and Consumer Price Indices (CPI). The annual growth rate of these indicators are as under:

| Macro-                           | Percentage Change Over Previous Year   | Percentage Change Over Previous Year   | Percentage Change Over Previous Year   | Percentage Change Over Previous Year   | Percentage Change Over Previous Year   | Percentage Change Over Previous Year   | Percentage Change Over Previous Year   |
|----------------------------------|----------------------------------------|----------------------------------------|----------------------------------------|----------------------------------------|----------------------------------------|----------------------------------------|----------------------------------------|
| economic indicators              | 2012- 13                               | 2013- 14                               | 2014- 15                               | 2015- 16                               | 2016- 17                               | 2017- 18                               | 2018- 19                               |
| GDP at Constant (2011-12) Prices | 5.5                                    | 6.4                                    | 7.4                                    | 8.0                                    | 8.2                                    | 7.2                                    | 6.8                                    |
| IIP (General)                    | 3.3                                    | 3.3                                    | 4.0                                    | 3.3                                    | 4.6                                    | 4.4                                    | 3.6                                    |
| CPI (Combined)                   | 9.9                                    | 9.5                                    | 6.0                                    | 4.9                                    | 4.5                                    | 3.6                                    | 3.4                                    |

(b)&(c): Reforms in the Indian Economy is a continuous process and various Ministries and Departments are implementing Government's strategic programmes  and  policies to  enhance the  economic growth.  The Government has taken various steps to boost the GDP growth of the economy. These, inter-alia, include fillip to manufacturing  via  Make  in  India  programme  and  measures  to improve  ease of  doing  business,  concrete  measures  for  transport sector including measures for regional connectivity and measures for power sector via schemes like Ujjwal DISCOM Assurance Yojana (UDAY). Other measures include comprehensive reforms in the foreign direct investment policy and special package for textile industry. The introduction of the Goods and Services Tax (GST) is intended to improve growth momentum by reducing barriers to trade, business and related economic activities. The Government has  special  focus  on  building  physical  and  social  infrastructure. National  Highway  Programme  is  proposed  to  be  restructured  to ensure a National Highway  Grid, using a financeable model. Emphasis is being given to MSMEs, Start-ups, defence manufacturing, automobiles, electronics and medical devices under Make  in  India.  The  Government  through  Minimum  Support  Price (MSPs)  is  providing  boost  to  the  farmers'  income.  In  2019-20, Government  launched  the  Pradhan  Mantri  Kisan  Samman  Nidhi Yojana  (PM-Kisan)  with  the  objective  to  supplement  the  financial needs of the small and marginal farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income.

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