Economic Survey 2019: CEA gives unfettered "Blue Sky" mantra to solve Indian economic woes

Modi government's new Chief Economic Adviser Krishnamurthy Subramanian today released first Economic Survey of the new government on a theme of 'Sky Blue Thinking' by putting people at the Centre. Releasing the document, Subramanian said the Survey is imbued by the spirit of the “unfettered blue sky thinking” to achieve the rainbow dream to become a $5 trillion economy by 2025. He said the document is presented to enable common citizens to understand the ideas and thereby their role in the economy.

Yesterday, Subramanain had tweeted: "When was the last time you looked at the blue, unfettered sky and wondered about the power of the unfettered "blue sky" thinking?"



Driven by the Blue Sky Thinking, the current survey lays lots of emphasis on the human aspect of the massive economic exercise. CEA said the 'New India’ requires that every individual realises his or her full potential and looks for opportunities to contribute rather than claim entitlements.

Decisions made by real people often deviate from the impractical robots theorized in classical economics

The Survey envisages that people should be nudged by government policies to change their behaviours. Survey argues that nudging behaviour change is simplest way to change gender equations, business culture, sanitation culture, health culture and so on.

The survey gives various examples of successful government schemes like Beti Bachao Beti Padhao, Swachh Bharat, Jan Dhan Yojana and other that brought changes in people behaviours. It said that nudging exercise can be strategically utilised to create an aspirational agenda for social change: Swachh Bharat, “Give It Up” for the LPG subsidy and tax compliance. Survey said now the country should look forward to create Swachh, Ayushman and Sundar Bharath.

Further, the Survey is also inspired by Gandhiji's Talisman: “…Recall the face of the poorest man [woman], and ask yourself, if the step you contemplate is going to be of any use to him."

It said the data can become a big too for larger public good. It said heading into a century where data has become the new oil, Survey foresees countless opportunities in creating data as a public good “of the people, for the people and by the people”

This is the second time in the Modi regime when the Economic Survey has taken a particular colour code to highlight a issue. Former CEA Arvind Subramanian had released the Economic Survey in Pink colour to highlight the gender issues in the country.

Subramanian also highlighted five key drivers of investment, savings, exports, growth and jobs as the primary engines to drive Indian economy.