Nearly seven months after his appointment as Chief Economic Adviser, Krishnamurthy V Subramanian broadly carried forward the legacy of his predecessor, Arvind Subramanian, while presenting the Economic Survey 2018-19 by sticking to a colour-themed Survey copy and presentation enlisting the key points from the Survey.
The survey, the first by the new chief economic adviser Krishnamurthy V. Subramanian, however, is more realistic in its assessments, especially with respect to the macroeconomic prospects. In noting that “India’s economic growth will rebound from a five-year low this year, but would need “a huge boost” in spending and reforms to accelerate higher rate of expansion to double the economy’s size to $5 trillion by 2024-25”, his assessment is in sharp contrast to his predecessor Arvind Subramanian’s first survey, which had gone on to proclaim that “India has reached a sweet spot — rare in the history of nations — in which it could finally be launched on a double-digit, medium-term growth trajectory”.
Where the two are similar is in the flavour and feel is in resorting to acronym-heavy associations and a heavy play of theme-based schemes. While Arvind Subramanian had resorted to acronyms such as JAM—Jan Dhan, Aadhaar, Mobile—in his first survey, Krishnamurthy V. Subramanian has introduced Beti Aapki Dhan Lakshmi Aur Vijay Lakshmi (BADLAV) in the Survey authored by him and tabled in Parliament on Thursday.
Thematically as well, both Arvind Subramanian and Krishnamurthy V. Subramanian touched upon the topic of women empowerment in their respective first surveys. Arvind Subramanian talked about unleashing nari shakti building upon the ‘Beti Bachao, Beti Padhao’ campaign of Prime Minister, Krishnamurthy V. Subramanian also has written about ‘Beti Bachao, Beti Padhao’ campaign helping in improving child sex ratios, particularly in large states where the child sex ratio was poor and has attempted to further the cause of gender equality by coining the slogan of BADLAV to enhance contribution of women in the workforce and the economy.