New Delhi: Chief economic adviser Arvind Subramaniam is addressing the media on the economic survey.
“The economic recovery from demonetisation requires policy support,” Subramaniam said.
Economic Survey, government sees FY18 GDP growth in range of 6.75-7.5%. It also outlines three main downside risks to FY18 GDP growth forecast adding that demoetisation, rise in oil prices and global trade tensions will affect the growth forecast.
The Survey sees fiscal windfall from invalid notes not returned. Excise related taxes will also fall around 0.1% of FY18 GDP
Tap for live updates:
Jan 31, 2017 1:43 pm (IST)
Jan 31, 2017 1:41 pm (IST)
Arvind Subramanian says rising crude prices could fan inflation. He adds that the outlook for GST collections in Finance Year 2018 is cautious, strongly advocates for universal basic income. The economic recovery from demonetisation requires policy support, says the Chief Economic Advisor
Jan 31, 2017 1:39 pm (IST)
Arvind Subramaniam’s press conference begins on a lighter note. He starts by quoting John Maynard Keynes on how a survey should have everything, then shifts to a Sholay dialogue that it should have comedy, drama and tragedy.
Jan 31, 2017 1:36 pm (IST)
The Economic Survey’s GDP growth figure for the current fiscal is lower than 7.1 per cent the Central Statistics Office had forecast earlier this month. The Survey lists some of the challenges that might impede India’s progress. These include ambivalence about property rights and the private sector, deficiencies in state capacity, especially in delivering essential services and inefficient redistribution.
Jan 31, 2017 1:35 pm (IST)
The Economic Survey 2017, tabled in Parliament on Tuesday, pegs India’s economic growth at 6.5 per cent for the current fiscal, down from 7.6 per cent recorded in the last financial year. It is expected to rebound in the range of 6.75-7.5 per cent in 2017-18.
Jan 31, 2017 1:34 pm (IST)
Chief Economic Advisor Arvind Subramanian is addressing the media on the Economic Survey 2017