Economic Survey 2018: Finance minister Arun Jaitley tabled the Economic Survey on the first day of budget session 2018. The annual report card of the government stated many important decisions that were carried out in the current fiscal year. The economic survey also stated that the government is expecting that the country’s real GDP growth will be 6.75% this fiscal year and will rise to 7.0 to 7.5% in 2018-19. The expected GDP growth will help to reinstate India’s dominance in the world as the fastest-growing major economy. The economic survey gave a special mention on the key areas for Modi government, that is Employment, Education & Agriculture. The survey was prepared by the finance ministry’s Chief Economic Adviser (CEA) Arvind Subramanian. The survey also stated some of the interesting aspects of the Indian economy. As per the Economic Survey 2018, below are the new facts of the Indian Economy:
* 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…
Latest posts by Financial Express (see all)
- NCL open to upgrade FSAs with power plants - December 14, 2019
- Fix Ujjwala: CAG audit points out problems, Aadhaar and third-party apps can fix - December 14, 2019
- Electric vehicle market in India projected to grow 36% annually till 2026! - December 13, 2019