Budget 2018: The Economic Survey report 2017-18 on Monday was tabled in both houses of the Parliament by Finance Minister Arun Jaitley ahead of the Union Budget 2018, in which it was projected that the economic growth for the fiscal year 2018-19 will be between 7% and 7.5%, while it also flagged concerns over rising crude oil price. The Economic Survey report 2017-18 also said that private investment is poised to rebound in the fiscal year 2019 and employment, education and agriculture will remain the focus in the medium term. The full Economic Survey is available at www.indiabudget.gov.in.
Here’s what the Economic Survey had for the country, the economy and the common man:
1. For the country: The Economic Survey 2018 states that there has been a large increase in registered indirect and direct taxpayers. As per the Economic Survey 2018, the formal non-agricultural payroll is much greater than believed. More than 30% when formality is defined in terms of social security (EPFO/ESIC) provision. More than 50% when defined in terms of being in the GST net. Read More…
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