Saturday, 28 December 2013

Per-Capita Income

Shri Srikant Kumar Jena
The Minister of State (Independent Charge) for Statistics and Programme Implementation Shri Srikant Kumar Jena has said that State estimates of Per Capita Income and Gross Domestic Product are compiled by concerned State governments. The estimates available for the last three years are given at Annexure.

In a written reply in the Lok Sabha today Shri Jena said, the Government has taken various steps for reviving growth in the economy and increasing Per Capita Income. 

The steps for reviving growth are: measures to speed up project implementation by creating Cabinet Committee on Investment (CCI); encouraging Infrastructure Debt Funds and increasing credit to infrastructure companies; greater support to MSMEs; strengthening of financial and banking sectors, etc. 

Further steps are liberalisation of FDI norms in several sectors including telecommunication; deregulation of sugar sector; launching inflation indexed bonds to incentivize households to save in financial instruments; fiscal reforms viz. reduction in the subsidy of diesel, cap on the number of subsidised LPG cylinders; new gas pricing guidelines; measures to control the current account deficit and depreciation of Rupee, etc. 

Various measures to attract foreign investment and contain the current account deficit have also been undertaken.    National Manufacturing Policy (NMP), 2011 is being implemented to increase the share of manufacturing in GDP to 25% over a decade.  

For generating employment, the schemes such as Mahatma Gandhi National Employment Guarantee Scheme and Swarnajayanti Gram Swarozgar Yojana (SGSY) are being implemented.  The Pradhan Mantri Gram Sadak Yojana (PMGSY), Indira Awas Yojana (IAY) and Bharat Nirman are undertaken in the areas of roads, housing, water supply, electrification, irrigation and telecommunication which, in turn, will increase the per capita income.

Shri Jena said, Government has undertaken several measures to control inflation. Some of these measures are tightening of monetary policy; reduction in fiscal deficit; reduction in import duties and measures to improve supply of food items like reducing import duties for wheat, onion, pulses and refined edible oils; banning export of edible oils and pulses; imposing stock limits for select essential commodities; maintaining the Central Issue Price for rice and wheat; suspending futures trading in rice, urad and tur; fixing Minimum Export Price of onion at USD 1150 per MT; and, allocating 195000 tonnes of rice and 327000 tonnes of wheat for distribution to retail consumers under Open Market Sales Scheme (Domestic) for the period up to March, 2014.

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