Economic Survey 2014: Need for urgent steps to facilitate investments, says Jaijit Bhattacharya

The Economic Survey for 2013-14, that was tabled by the Union Finance Minister Arun Jaitley today has noted that removing procedural bottlenecks, improving governance and above all, maintaining consistency in government infrastructure policies are some of the issues that need to be urgently addressed for sustainable infrastructure development.

Interpreting the survey, which is a general report on the state of the Indian economy, Jaijit Bhattacharya, Partner, Infrastructure and Government Services, KPMG in India has said that it is clear that the economy is going through challenges, which are translating into fiscal and monetary constraints.

"Besides correcting some of the subsidy interventions that has distorted the labour market and has contributed to inflation, the government may well consider urgent steps to facilitate investments that would lead to job creation and infrastructure creation at a rapid rate, easing out the fiscal and monetary pressures in the medium term," Bhattacharya said