Question

Which of the following suggestions to the Government about commercial lawsuits is indicated within the 2017-18 economic survey of India?
1. Should not make any changes in the number of lawsuits
2. Should increase the number of lawsuits
3. Should reduce the pendeney of lawsuits
4. Should appoint a committee to examine the number of lawsuits they file

Answer 1

Correct Answer - Option 3 : Should reduce the pendeney of lawsuits

The correct answer is Should reduce the pendeney of lawsuits.

• The survey 2017-18, tabled in Parliament, said that there is a need to address the issues of pendency, delays and backlogs in the appellate and judicial arenas towards ease of doing business and boost economic activities.
• This was stated in the Economic Survey 2017-18 tabled in Parliament by the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley.
• The issues, it said, hamper dispute resolution, contract enforcement, discourage investment, stall projects, hamper tax collection, stress taxpayers and escalate legal costs.
• It said that although India jumped to 100th rank in the World Bank’s Ease of Doing Business Report 2018, the country continues to lag on the indicator on enforcing contracts.
• In the latest report, India’s ranking on the indicator on enforcing contracts marginally improved to 164 from 172 in the previous report.
• The economic survey emphasizes on the importance of an effective, efficient and expeditious contract enforcement regime for economic growth and development.