Highlights of the Economic Survey 2017-18
- The Economic Survey 2017-18:
- The Economic Survey 2017-18 tabled by Finance Minister Arun
Jaitley in the Lok Sabha on January 29, 2018.
- The survey was
authored by chief economic adviser in the finance ministry Arvind Subramanian
- GDP to grow 7-7.5% in FY19; India to regain fastest growing
major economy tag.
- GDP growth to be 6.75% in FY2017-18.
- Policy vigilance required next fiscal if high oil prices
persist or stock prices correct sharply.
- Policy agenda for next year -- support agriculture,
privatise Air India, finish bank recapitalisation.
- GST data shows 50% rise in number of indirect taxpayers.
- Tax collection by states, local governments significantly
lower than those in other federal countries.
- Demonetisation has encouraged financial savings..
- Insolvency Code being actively used to resolve NPA woes.
- Retail inflation averaged 3.3% in 2017-18, lowest in last 6
- India needs to address pendency, delays and backlogs in the
appellate and judicial arenas.
- Urban migration leading to feminisation of farm sector.
- Rs 20,339 cr approved for interest subvention for farmers in
- FDI in services sector rises 15% in 2017-18 on reforms.
- Fiscal federalism, accountability to help avoid low
- India’s external sector to remain strong on likely
improvement in global trade.
- Technology should be used for better enforcement of labour
- Swachh Bharat initiative improved sanitation coverage in
rural areas from 39% in 2014 to 76% in January 2018.
- Priority to social infrastructure like education, health to
promote inclusive growth.
- Centre, states should enhance cooperation to deal with
severe air pollution.
- Suvey 2017-18 in pink colour to highlight gender issues.
- Indian parents often continue to have children till they
have the desired number of sons.