Economic Survey 2018 for the Budget India
Economic Survey 2018 for the Budget, was reported by Finance Minister Mr. Arun Jaitley in the Parliament last day (29.01.2018, Monday) and also with President of India’s presence – Mr. Ramnath Kovind. The Budget for the year 2018 will be held on 1st February. This coming budget is Arun Jaitley’s fifth and the last for the National Democratic Alliance (NDA) Party in this period.
There are so many things discussed in the economic survey 2018 meet and some of the highlights for you,
- India’s GDP growth expectation at 6.75 % for the Financial Year 2017-18 and will be around 7 – 7.5 % growth for the FY19.
- Fiscal Deficit will stand with 3.2 % for the Financial year 2018 and the Retail Inflation will be 3.3 % (FY 18). Industrial growth expectation at 3.2 % and the Export growth at 12.1 %
- Recently, Inflation (Consumer price index -CPI) stood at 5.2 % in December 2017, which was 17 months high and the export also gains a value while the Government policy matters.
- Forex Reserves stands at 40,900 US Dollars for the financial year 2017-2018.
- Increase in paying Indirect tax with a rise of 50 %. Demonetization gives a valuable effort to the Tax payments.
- Private Investment is also poised for a Rebound.
- Monetary Policy looks remain a steady one. Export in garments are good and comfort.
- Registration under GST was increased and to be going completely.
- Oil Price hike is a major caution at now. While the crude oil prices are high with demand and supply. Government also plans for the electric vehicles on the road to decrease the level of mass pollution and oil price increase.
- Government is also focusing on Agriculture, Education and Employment and its current status at mid term level. The meet also said that Women’s participation in agriculture is the best of its value and it plans to double the income of farmers before 2025.
- The Insolvency and Bankruptcy code (IBC) had almost improved and it helps for the Public sector banks to access the asset of defaulters. Recently, Banks Non-performing Assets also perform better in a small value. The gross NPA of both public and private banks were at 7.34 lakh crore and 1.03 lakh crore on September, 2017.
- Chief Economic advisor Arvind Subramaniam also warned again that the Investors should be cautious, as the stock market are in the high valuations and stressed the need for greater vigilance.
Kindly share your views / comments with a smile 🙂