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Economic Survey 2020: Expenditure on Social Services Increased by 1.5%

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As per the Economic Survey, the expenditure on social services by the Centre and States increased from Rs 7.68 lakh crore in 2014-15 to Rs 15.79 lakh crore in 2019-20 (Budget Estimate).

Economic Survey 2020: Expenditure on Social Services Increased by 1.5%
 

As a proportion of Gross Domestic Product (GDP), the expenditure on social services has registered an increase of 1.5 percentage points during the period 2014-15 to 2019-20 from 6.2 to 7.7 per cent. The expenditure on education, as percentage of GDP increased from 2.8 per cent to 3.1 per cent between 2014-15 and 2019-20 (BE). Similarly, expenditure on health increased from 1.2 per cent to 1.6 per cent during the same period as percentage of GDP, the pre-Budget document notes.

Human Development:

India's rank in the Human Development Index (HDI) improved to 129 in 2018 from 130 in 2017, reaching a value of 0.647. With 1.34 per cent average annual HDI growth, India is among the fastest improving countries. Among its BRICS peers, India is ahead of China (0.95), South Africa (0.78), Russian Federation (0.69) and Brazil (0.59). To sustain this momentum in human development and to further accelerate it, the role of public sector in delivery of social services is critical, observes the Survey.

GoodReturns.in

Story first published: Friday, January 31, 2020, 14:24 [IST]
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