India’s Chief Economic Adviser Arvind Subramanian on Monday presented the Economic Survey on the first day of the Parliament’s Budget Session. The Economic Survey is an annual report that lays out the state of the country’s economy days before the finance minister presents the Union Budget, and also suggests what the government should include in its agenda for the coming year.
In the Economic Survey 2018, Subramanian highlighted that India’s Gross Domestic Product is likely to grow at 6.75% in 2017-’18 and accelerate to 7% to 7.5% in 2018-’19. His assessment report emphasised on the need to improve gender equality in the country and give it as much importance as improving India’s Ease of Doing Business ranking. The Economic Survey also warned of the “nascent threat” India’s growth faces from “persistently high oil prices”, and how climate change can reduce farm incomes by 25%.
Here are Scroll.in articles that analyse the Economic Survey 2018 and the outlook it presents for the Indian economy:
- It’s not so rosy anymore: Economic Survey paints a sobering picture: The exuberance of previous surveys is gone. ‘Stuff happens,’ says the chief economic adviser.
- Pakodanomics – Economic Survey serves up formula for government to claim bigger formal sector: The new approach measures the formal sector through GST registration, rather than enrolment in social security programmes.
- Economic Survey – How note ban and NPAs slowed India down while the rest of the world grew: India and the rest of the globe were growing together until 2016.
- The Economic Survey argues that GST will actually be good for Indian federalism. Really?: The government document did not make a very good case of it.
- Economic Survey predicts farmers’ losses due to climate change – but offers no effective solution: It claims new findings on the impact of climate change, but doesn’t offer anything more than the government’s existing schemes.
- Economic Survey – Note ban added only a few new taxpayers and will barely increase revenues: Arvind Subramanian’s document says 1.8 million taxpayers have been added to the net, but most are just at the Rs2.5 lakh threshold.
- Economic Survey – Could India’s poor school education system really stall its economic progress?: There is no evidence that investors have been stymied by the lack of prospective employees.