The Economic Survey 2024 calls for a 'tripartite compact'. Which of the following is NOT a part of it?

The Correct answer is Foreign investors.

Key Points

• The concept of a 'tripartite compact' as mentioned in the Economic Survey 2024 refers to a collaborative effort involving three key entities: the central government, the state governments, and the private sector.
• This compact emphasizes the need for coordination and cooperation among these three entities to drive economic growth, implement reforms, and foster development.
• Foreign investors, while important for economic development, are not a part of the 'tripartite compact' as defined in the survey. The focus is on domestic stakeholders—central and state governments, along with the private sector.
• The aim of the tripartite compact is to create a conducive environment for investments, ensure policy stability, and strengthen governance to boost India's economic trajectory.
• The Economic Survey 2024 highlights that collaboration between the public and private sectors is crucial for achieving India's economic goals, especially in areas such as infrastructure development, health, and education.
• Foreign investors typically play a significant role in providing capital and expertise but are not considered a direct stakeholder in this specific framework.

 Additional Information

• Central government
  • The central government is a key player in policy formulation and implementation at a national level.
  • It provides financial support, creates a regulatory framework, and ensures the success of large-scale projects by collaborating with state governments and the private sector.
  • The central government also implements reforms to improve the ease of doing business and attract investments.
• State governments
  • State governments play a crucial role in local governance, policy implementation, and facilitating projects within their jurisdiction.
  • They work in coordination with the central government to implement schemes and reforms that require state-level execution.
  • States are instrumental in providing land, infrastructure, and local support to industries and businesses.
• Private sector
  • The private sector contributes significantly to economic growth through investments, innovation, and job creation.
  • It plays an active role in sectors like infrastructure, technology, manufacturing, and services.
  • The private sector complements the efforts of the government by bringing in efficiency and expertise.