Economic Survey 2018 highlights Pdf Hindi & English

Economic Survey 2018 highlights Pdf Hindi & English

Economic Survey 2018 Highlights pdf -Indian Economic Survey 2018 -Economic Survey 2018 Highlights pdf -Indian Economic Survey 2018

Growth Of Indian Economy and Sectors 

  1. 2018-19 Growth seen at 7 pct to 7.5 pct y/y
  2.  2017-18 GDP growth seen at 6.75 pct y/y
  3. 2017-18 industry growth seen at 4.4 pct
  4. 2017-18 farm sector growth seen at 2.1 pct
  5. Economic management will be challenging in the coming year
  6. Biggest source of upside to growth to be from exports
  7. Cyclical conditions may lead to lower tax and non-tax revenues in 2017-18
  8. Agriculture, industry and services sectors are expected to grow at the rate of 2.1 per cent, 4.4 per cent, and 8.3 per cent respectively in 2017-18
  9. The survey adds that after remaining in negative territory for a couple of years, growth of exports rebounded into positive one during 2016-17 and expected to grow faster in 2017-18.
  10. However, due to higher expected increase in imports, net exports of goods and services
    are slated to decline in 2017-18.
  11. GST data reveals 50% increase in number of Indirect Taxpayers
  12. Economic Survey says-Maharashtra, Gujarat, Karnataka, Tamil Nadu & Telangana account for 70% of India‟s exports
  13. India‟s internal trade in goods and services is 60 percent of GDP.

Fiscal Deficit 

  1. Target for fiscal consolidation specially in a pre-election year can carry a high risk of credibility .
  2. Current Account deficit for 2017-2018 expected to be 1.5 to 2 percent of GDP.10 Important Facts  Indian Economic Survey 

Economic Survey 2018 highlights Pdf Hindi & English

  1. The GDP growth rate for the fiscal year 2017-2018 is pegged at 6.75% by the Economic Survey report. The government, in its advance GDP estimate, had estimated a growth of 6.5%.
  2. In the fiscal year 2019, the survey said that the Indian economy is expected to grow between 7% and 7.5%. The International Monetary Fund (IMF) has also said that India could grow at 7.4% in the current year 2018, as against China’s 6.8%.
  3. On the implementation of the Goods and Service Tax (GST), the survey said that there has been a 50% increase in number of indirect taxpayers; Large increase in voluntary registrations; distribution of GST base closely linked to size of economies; strong correlation between export performance and state’s standard of living and India’s formal sector was found to be substantially greater than currently believed.
  4. The level of tax filers by November 2017 was 31% greater. The economic survey said that it translated roughly into about 1.8 million additional taxpayers due to demonetization-cum-GST, representing 3% of existing taxpayers.
  5. The Agriculture growth in FY18 likely to be at 2.1%, while the Industry growth for FY18 likely to be 4.4%.
  6. Services growth for FY18 likely to be at 8.3% and the country’s economy should witness improvement in next fiscal year.
  7. The IBC resolution process could prove a valuable technology for tackling this long-standing problem in the Indian corporate sector.
  8. The apparel sector has immense potential to drive economic growth, increase employment, and empower women in India. This is especially true as China’s share of global apparel exports has come down in recent years. However, India has not, or not yet, capitalized on this opening.
  9. In the last three fiscal years, India experienced a positive term of trade shock. But in the first three quarters of 2017-18, oil prices have been about 16 percent greater in dollar terms than in the previous year (Table 1). It is estimated that a $10 per barrel increase in the price of oil reduces growth by 0.2-0.3 percentage points, increases WPI inflation by about 1.7 percentage points and worsens the CAD by about $9-10 billion dollars. Economic Survey calls for “policy vigilance” in coming year if high oil prices persist or stock prices correct sharply.
  10. The Headline inflation has been below 4 per cent for twelve straight months, from November, 2016 to October, 2017 and CPI food inflation averaged around one per cent during April-December in the current financial year. The Survey observes that the economy has witnessed a gradual transition from a period of high and variable inflation to more stable prices in the last four years.
  11. Current account deficit expected to average 1.5-2% of the GDP this fiscal, while export growth is paged at 12.1%.
  12. The survey said that India will need $4.5 trillion investment in infrastructure by 2040.

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