Focus on human capital, agri: India Inc

New Delhi: India Inc pitched for focus on rapidly improving human capital and agricultural productivity to sustain the economic growth trajectory, while cheering the GDP growth projection of 7-7.5 per cent in 2018-19 laid out by the Economic Survey.

"The Survey provides new ideas for building a positive momentum for growth in the coming year and for faster growth thereafter. It delineates a long-term vision for powering the emergence of a New India which is both transformative and socially inclusive," CII Director General Chandrajit Banerjee said.

The Survey has rightly alluded that the chief areas of policy focus in the medium term are employment, especially for women; educated and healthy labour force; and raising farm productivity, he added. "We expect that the Budget will address some of these issues," he said.

Industry body Assocham said while the Insolvency resolution mechanism has begun in the right earnest, a big vigil needs to be kept and the banks must be given additional capital at the earliest, observing that "until the issue of NPA (non-performing assets) is fixed, growth may elude us".

"Economic Survey for 2017-18 has brought out areas of concern such as rising non-performing assets of the public sector banks and has underlined the need, rightly so, for putting maximum emphasis on creating new jobs, agriculture and education," Assocham President Sandeep Jajodia said.