Ahead of the Union Budget, the finance ministry every year presents the economic survey which reviews the overall state of the economy in the last 12 months and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. The Union Budget 2018-19 will be presented on 1st February, 2018.
The Economic Survey was prepared by the finance ministry’s Chief Economic Adviser Arvind Subramanian, who estimates that gross domestic product will have grown 6.75 percent in the current fiscal year ending in March.
Here are the highlights of the report:
GROWTH
* 2018/19 Growth seen at 7% to 7.5% y/y
* 2017/18 GDP growth seen at 6.75% y/y
* 2017/18 industry growth seen at 4.4%
* 2017/18 farm sector growth seen at 2.1%
* Economic management will be challenging in the coming year
* Biggest source of upside to growth to be from exports
* Cyclical conditions may lead to lower tax and non-tax revenues in 2017/18
* Private investment poised to rebound
FISCAL DEFICIT
* Target for fiscal consolidation specially in a pre-election year can carry a high risk of credibility
* Current account deficit for 2017/18 expected to average 1.5-2% of GDP
* Pause in general govt fiscal consolidation cannot be ruled out in 2017/18
* Suggests modest (fiscal) consolidation that signals a return to the path of gradual but steady deficit reductions
INFLATION
* Persistently high oil prices remain a key risk, to affect inflation
* If inflation doesn’t deviate from current levels policy rates can be expected to remain stable
* Average CPI inflation seen at 3.7% in 2017/18
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It is indeed my belief that mesothelioma is definitely the most deadly cancer. It contains unusual traits. The more I really look at it the harder I am convinced it does not react like a true solid tissue cancer. When mesothelioma is usually a rogue viral infection, so there is the potential for developing a vaccine along with offering vaccination for asbestos uncovered people who are really at high risk with developing long term asbestos associated malignancies. Thanks for expressing your ideas on this important health issue.
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Thank you for this article. I would also like to mention that it can become hard when you find yourself in school and merely starting out to initiate a long history of credit. There are many college students who are simply just trying to live and have a long or favourable credit history can often be a difficult issue to have.
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