Rediff.com » Business
Survey calls for 'policy vigilance'
Source: PTI January 29, 2018
… if high oil prices persist or stock prices correct sharply.
Finance Minister Arun Jaitley on Monday tabled the Economic Survey 2017-18 in the Lok Sabha soon after President Pram Nath Kovind's address to the joint sitting of both Houses of Parliament.
Prime Minister Narendra Modi, Union Ministers, Deputy Speaker M Thambidurai, opposition leaders Mallikarjun Kharge, Mulayam Singh Yadav, Sudip Bandopadhyay and Farooq Abdullah were among others present in the House.
Following are the highlights of the Survey:
- 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 pc in 2017-18, lowest in last 6 fiscals
- India needs to address pendency, delays and backlogs in the appellate and judicial arenas
- Urban migration leading to feminisation of farm sector
- Rs 20,339cr approved for interest subvention for farmers in current fiscal
- FDI in services sector rises 15% in 2017-18 on reforms
- Fiscal federalism, accountability to help avoid low equilibrium trap
- India's external sector to remain strong on likely improvement in global trade
- Technology should be used for better enforcement of labour laws
- 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 desired number of sons
Read all about Jaitley's final full Budget right here!
Photograph: Anindito Mukherjee/Reuters
Source:
PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
Recommended by Rediff.com
Inflation, CAD and fiscal deficit have come down: Prez
Mr PM: 5 lakhs new jobs a month will do
Mr Modi, let's have same rules for ALL rich Indians
Budget: FM may raise divestment target for 2018-19 to Rs 100,000 crores
© 2024 Rediff.com