TY - BOOK ED - Government of India. Ministry of Finance TI - Economic Survey 2015-16 V.1 SN - 0199469288 U1 - 330.954053 PY - 2016///-07-26 CY - New Delhi PB - Oxford University Press N1 - Chapter Page Name of the Chapter No. No. CONTENTS 1 ECONOMIC OUTLOOK, PROSPECTS, AND POLICY CHALLENGES 1 Introduction 7 The Global Context 9 The Indian Context 10 Review of Major Developments 13 Real GDP Growth 20 Inflation 25 Medium-Term Fiscal Framework 30 External Outlook 32 Trade Policy 32 Agriculture and the WTO 33 Volatile Trade Policy 34 Broader Issues: The "Big-but-Poor" Dilemma 35 Dealing with Ongoing Stresses 35 Broader Issues: Prerequisites for Trade opening 2 THE CHAKRAVYUHA CHALLENGE OF THE INDIAN ECONOMY 37 Introduction 39 Costs of Impeded Exit 41 Describing the Problem of Exit 41 Why is there an Exit Problem? 46 Conclusion: Addressing the Problem 3 SPREADING JAM ACROSS INDIA'S ECONOMY 50 Introduction 50 The Ingredients of JAM 55 The Amount and Varieties of JAM 56 The First type of JAM 61 The spread of JAM 62 JAM Preparedness Index 66 Conclusion 4 AGRICULTURE: MORE FROM LESS 68 Introduction 69 Productivity 71 Where are crops grown? A double blow for pulses 73 What does this mean for farm incomes? 73 Critical Input: Water 74 Micro Irrigation 75 Policies 77 Agricultural Research and Education 79 Market Failure for Agricultural Output 81 Price Wedges 5 MOTHER AND CHILD 84 Introduction: Investing in tomorrows' India today 87 The State of (Child's) Play in India 88 The State of Maternal Health 89 Improving Maternal Health in India 92 Conclusion: What other High-Return Investments can the Government Make? BOUNTIES FOR THE WELL-OFF Introduction "Small" Savings Other Bounties Total Subsidy appropriated by the Well-OfT Conclusion FISCAL CAPACITY FOR THE 21ST CENTURY Introduction Cross-Country Taxation and Expenditure Patterns Analysis of Taxation and Expenditure Patterns: Is India an Outlier? Conclusion: Moving to a Better Equilibrium on Taxation and Spending PREFERENTIAL TRADE AGREEMENTS Introduction India and Free-Trade Agreements Mega-Regionalism To PTA or not to PTA? Empirical Framework Basic Facts and Trends Main Results Conclusion: Policy Implications THE FERTILISER SECTOR Introduction Basic Facts Leakage 1 - Black Market Leakage 2 - Small Farmer Inability to derive full benefits Leakage 3 - Inefficient Fertiliser Manufacturers Externalities of Urea Prices Reforms Turning Fertiliser into JAM Universal Subsidy with Cap on Number of Bags Conclusion STRUCTURAL CHANGES IN INDIA'S LABOUR MARKETS Introduction "Regulatory Cholesterol" and the Rise of Contract Labour Firms Contract Labour Competitive Federalism Relocation The Centre's Role in creating "Good Jobs"-Ensuring Worker Centric Labour Regulation Conclusion POWERING "ONE INDIA" Introduction Transparency and Simplicity in Retail Electricity Tariffs Tariffs and Cost Policies in The Power Sector: Impact on 'Make In India' 'Make In India' by 'Making One India': The Open Access Issue Exploiting Progressivity to Lower Tariffs for the Poor Conclusion Techmical Appendix ER -