The central theme of Economic Survey 2021-22 is the “Agile approach”, implemented through India’s economic response to the COVID-19 Pandemic shock.
- Agile approach was developed in 2001 and is based on 12 principles, which include customer satisfaction, collaboration, adapting to change, feedback loops and breaking project silos.
- The preface of Economic Survey states that the “Agile approach” is based on feed-back loops, real-time monitoring of actual outcomes, flexible responses, safety-net buffers and so on.
- Such information includes GST collections, digital payments, satellite photographs, electricity production, cargo movements, internal/external trade, infrastructure roll-out, delivery of various schemes, mobility indicators, to name just a few.
- Short-term policy responses, therefore, the Survey states, can be tailored to an evolving situation rather than what a model may have predicted.
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