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Economic Survey of India 2018 Highlights PDF

Economic Survey of India 2018

Highlights of Economic Survey of India 2018

The Economic Survey has estimated that the Indian economy will grow by 7 to 7.5 per cent in 2018-19, thereby proving India to be the world’s fastest growing economy.
  • The Gross Domestic Product is supposed to grow at 6.75 % this year and by 7 to 7.5 % by the next fiscal i..e 2018-2019 Session.
  • The growth is manufacturing is supposed to be around 8%.
  • Oil prices will continue being a major concern. There might be a rise of 10 dollar in global oil prices.
  • Jobs and Agriculture will be the key focus area. This will also include stabilization of the GST.
  • Growth in Agriculture is supposed to be around 2.1 % this year.
  • There has been a 50 % increase in the number of indirect tax payers after 1.8 million taxpayers have been added after demonetization and GST.
  • GST revenues have better buoyancy than other older tax reforms.
  • The industry growth have been seen at 4.4 %.
  • The farm sector growth is around 2.1 %.
  • Private investment is poised to be rebound.
  • Effective implementation of Insolvency and Bankruptcy Code (IBC) will boost private investment which will in turn give a boost to demand.
  • Target for fiscal consolidation specially in a pre-election year can carry a high risk of credibility.

  • Average CPI inflation seen at 3.7 pct in 2017/18.
  • The level of tax filers by November 2017 was 31% greater which translated roughly into about 1.8 million additional taxpayers due to demonetization-cum-GST, representing 3% of existing taxpayers.
  • Services growth is likely to be at 8.3% and the country’s economy should witness improvement in next fiscal year.
  • The IBC resolution process could prove a valuable technology for tackling this long-standing problem in the Indian corporate sector.
  • The apparel sector has immense potential to drive economic growth, increase employment, and empower women in India.
  • 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 said that India will need Dollar 4.5 trillion investment in infrastructure by 2040.
  • The Survey has observed that the growing rural to urban migration by men has led to ‘feminisation’ of agriculture sector.
  • The Chapter on Sustainable Development, Energy and Climate Change noted that India has strengthened its response to the threat of climate change in accordance with the "Paris Pledge."
  • The Survey blames four factors for rising pollution in the National Capital Region — crop residue and biomass burning, vehicular emissions, redistributed road dust from industries and power plants, and winter temperature inversion due to lack of humidity and absence of wind.
  • The Economic Survey has observed that the quality of hygiene and sanitation had a significant impact on improving the health outcomes.
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