Planning Commission has released a detailed report on the Services sector in India.
The Group selected six sub-sectors of the Services Sector viz. IT & IT enabled Services, Tourism, Shipping, Health Services, Financial Services and Retail Trading Services for detailed examination. While the needs of each sub-sector are unique in many respects, the Group felt that action on three fronts was critical for enhancing the competitiveness of the services sector. The education system must be reformed and expanded, the skill deficit in almost all service sectors must be eliminated through concerted action and the physical infrastructure including the urban infrastructure and civic amenities brought to world standards. A copy of the Report is enclosed.
A much needed report on the sector which contributes majority of India’s output but we know very little about.
You notice one thing- this report has hardly been covered in the media. Unlike the Rajan report or MIFC report on financial sector, the services sector report seems to have been completely ignored.
This is what I keep saying – we hardly care for reforms in the real sector but are extremely focused on financial sector. Finance can only work if we get activity in the real sector. But somehow we just don’t seem to care.