Economic Survey 2017 Highlights

Ahead of the Union Budget tomorrow, the Union finance government minister Arun Jaitley today tabled the Economic Survey 2016-17 inwards Parliament budget session. The Economic Survey reviews the developments inwards the Indian economic scheme over the previous 12 months, summarizes the surgical operation on major evolution programmes, in addition to highlights the policy initiatives of the authorities in addition to the prospects of the economic scheme inwards the curt to medium term.  The survey projects the economic scheme to grow inwards the make of 6.75% to 7.25% in the adjacent financial twelvemonth 2017-18 inwards the post-demonetisation year. Here are the major highlights of the survey. 

Highlights of Economic Survey 2017

  • Demonetisation may touching supplies of for certain agricultural products similar sugar, milk, potatoes in addition to onions
  • Demonetisation to touching increment charge per unit of measurement yesteryear 0.25-0.5 per cent, but to induce got long-term benefits
  • Efforts to collect taxes on disclosed in addition to undisclosed wealth should non Pb to revenue enhancement harassment
  • Farm sector to grow at 4.1 per cent this fiscal, upwardly from 1.2 per cent terminal year
  • Fiscal gains from GST volition accept fourth dimension to realise
  • Fiscal windfall probable from Pradhan Mantri Garib Kalyan Yojana, depression fossil oil price
  • GDP increment for adjacent financial pegged at 6.75-7.5 per cent
  • Growth charge per unit of measurement of industrial sector to moderate to 5.2 per cent this fiscal, from 7.4 per cent terminal fiscal
  • Growth this financial to hold upwardly 6.5 per cent
  • Growth to provide to normal equally novel currency comes inwards circulation
  • GST, other structural reforms should accept the tendency increment charge per unit of measurement to 8-10 per cent
  • Income Tax internet could hold upwardly widened gradually yesteryear encompassing all high income earners
  • Prescribes cutting inwards private I-T rates, existent estate postage duties
  • Tax direction could hold upwardly improved to trim down discretion in addition to amend accountability
  • Time tabular array for cutting corporate revenue enhancement should hold upwardly accelerated
  • Universal Basic Income Scheme is an choice to plethora of dry reason subsidies for poverty alleviation.
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