Finance Minister of India Mr. Arun Jaitley tabled the Economic Survey 2017 today in the parliament. The survey has been authored by Chief Economic Advisor Arvind Subramanian.
Here are the key highlights of the survey with regards to forecasts and suggests:
- The Gross Domestic Product (GDP) is expected to grow in the range of 6.75% to 7.5% in 2017-18.
- It also suggests that Demonetisation risks will grow in 2017-18.
- The survey suggests to take cautions against the significant rise in the crude prices as it could lead to increase in the inflation rate.
- It also forecasts that low interest rates will help the Indian economy in 2017-18.
- The Economic Survey 2017 also suggest rolling-out a universal basic income (UBI) scheme which will help the Indian poor.
- The Survey also advocates more economic reforms to unleash the dynamism of Indian economy.
- The Remonetisation will eliminate the cash crunch by the April month in 2017.
- Indian has huge opportunity to increase the exports of leather and apparel products.
- The Survey suggests that the economy is challenged by early, low income, and a cleavaged democracy
The Survey also suggests that the government should quickly remonetise, bring real estate under GST’s ambit, reduce taxes and provide a stable tax regime to increase the benefit of demonetisation.