BULLET OF THE DAY FOR CRACKING PRELIMS 2019

BULLET OF THE DAY FOR CRACKING PRELIMS 2019

• GROWTH IN MANUFACTURING SECTOR::

- Manufacturing sector is estimated to have grown at a CAGR of 4.34 per cent between FY12 and FY18.
- The Wholesale Price Index, in respect of manufactured goods grew 4.4 per cent 2016-17.
- Indian manufacturing sector’s Gross Value Added at basic prices based at current prices is expected at US$ 388.01 billion in 2017-18E.
- As per Labour Bureau’s Quarterly Report on Employment Scenario, manufacturing sector added an estimated 89,000 jobs in the second quarter of 2017-18.
- Manufacturing has emerged as one of the high growth sectors in India.
             Prime Minister of India, Mr Narendra Modi, had launched the ‘Make in India’ program –

- India is expected to become the fifth largest manufacturing country in the world by the end of year 2020
- Aims to increase the share of the manufacturing sector to the gross domestic product (GDP) to 25 per cent by 2022, from 16 per cent
- Create 100 million new jobs by 2022.The Make in India programme has gradually commenced its upward journey in defence, railways, ports, airports, urban infrastructure and affordable housing sectors.
- The preparedness of Indian manufacturing sector to cater to the growing needs of these critical sectors would determine the success, efficiency and competitiveness of this sector as the industrial backbone of the country.

Government needs to take steps to tackle the following:

- Unavailability or high price of raw materials
- Limited domestic demand
- Competition from foreign markets, and uncertainty about taxation.
- Legislative and regulatory regimes
- Lack of digital culture and talent – to help streamline operations, which will lead to an improvement in business output..

* THANKYOU AND ALL THE BEST..