Economic Survey 2018 - Key takeaways
The Chief Economic Advisor at the Finance Ministry released the 2018 Economic Survey in Parliament. The survey is released ahead of the Budget every year. The Economic Survey sets the stage for Finance Minister Arun Jaitley's annual budget on Thursday.
Some of the highlights of the 2018 survey are:
- Economic management will be challenging in the coming year
- Survey projects growth rate of 6.75% for current fiscal year, higher than the Central Statistics Office outlook of 6.5%.
- Economic growth is picking up with the impact of GST rollout and notes ban fading.
- 50% rise in number of indirect taxpayers reported.
- Exports have picked up quickly in last three quarters.
- Recapitalisation of state-run banks and ongoing resolution of bad loans under the bankruptcy code