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Kerala PSC Indian Economy Book Study Materials Page 112Book's First Page
5.26 ndian onom recommended moving away from anchoring the the GDP. Similarly, the revenue deficit of the poverty lines to the calorie intake norm, adopting Centre increased from 1.1 per cent in 2007–08 the Mixed Reference Period (MRP) based to 4.5 per cent in 2008–09 and further to 5.2 per estimates of consumption expenditure as the basis cent in 2009–10 and declined to 3.4 per cent for for future poverty lines, adopting MRP equivalent 2010–11 (RE). As per 2011–12 (BE), the revenue of urban Poverty Line Basket (PLB) corresponding deficit is projected at the same level of 3.4 per cent to 25.7 per cent urban headcount ratio as the new of the GDP. The increase in the deficit levels of reference PLB for rural areas. On the basis of the the Centre owes to revenue foregone on account above methodology, the all-India rural poverty of reduction in indirect tax rates and enhanced headcount ratio for 2004–05 was estimated at public expenditure in order to boost demand in 41.8 per cent, urban poverty headcount ratio at the economy amidst global meltdown. 25.7 per cent and all India level at 37.2 per cent. The issue of Price Stability remained It may however be mentioned that the Tendulkar resonating for more than half of the Plan Committee’s estimates are not strictly comparable period. To ward off the crisis of rising prices, to the present official poverty estimates because of the government needed to announce several tax different methodologies. As has been indicated in concessions at one hand, while it could not pass the Mid-Term Appraisal of the Eleventh Five Year the burden of the costlier imported oil prices on Plan, the revised poverty lines and poverty ratios the masses. That would have resulted in ultimately for 2004–05 as recommended by the Tendulkar putting the exchequer in a fund-crunch mode, Committee have been accepted by the Planning at the end, creating a short-supply of investible Commission. The Tendulkar Committee has funds in government’s hand, hence, causing the specifically pointed out that the upward revision Eleventh Plan to perform at the levels below its in the percentage of rural poverty in 2004–05, target. resulting from the application of a new rural poverty line, should not be interpreted as implying Twelfth Plan that the extent of poverty has increased over time. The ‘Draft Approach Paper’ of the Twelfth These estimates, as reported by the Committee, Plan (2012–17) was prepared by the Planning clearly show that whether we use the old method Commission after widest consultation till date— or the new, the percentage of the population recognising the fact that citizens are now better below poverty line has declined by about the same informed and also keen to engage. Over 950 magnitude. civil society organisations across the country The performance on the Fiscal Scenario, provided inputs; business associations, including according to the Planning Commission, the those representing small enterprises have been expansionary fiscal measures taken by the consulted; modern electronic and ‘social media’ government in order to counter the effects of the (Google Hangout) were used to enable citizens global slowdown were continued in 2009–10, to give suggestions. All state governments, as and this led to further increase in the key deficit well as local representative institutions and indicators. The fiscal deficit of the Centre, which unions, have been consulted through five regional was 2.5 per cent in 2007–08 increased substantially consultations. Though the Approach Paper for the to 6.0 per cent in 2008–09 and further to 6.4 per Plan was approved by the NDC by mid-2011, the cent in 2009–10, but it declined to 5.1 per cent Plan Document was finalised much later after the in 2010–11 (RE) and the Budget Estimates for launch of the plan (like the Tenth and Eleventh 2011–12 put the fiscal deficit at 4.6 per cent of Plans).