Finance Minister Arun Jaitley, on Tuesday, tabled the Economic Survery 2017 in the parliament. The report was authored by the Chief Economic Advisor Arvind Subramanian and provided a summary of the economy, discussed policy measures and highlighted the economy’s outlook for the future.
The Survey projected that the country’s GDP will grow by 6.75% to 7.5% in 2017-2018. Invoking Mahatma Gandhi’s vision of “wiping every tear from every eye”, the Survey also made a strong pitch for implementing Universal Basic Income (UBI) that stipulates a certain income for the poor. Discussing the future for the economy, the survey stated that India will have to keep a close watch on the political backlash against globalisation and also developments in China as both have implications on the domestic economy.
Wednesday’s budget presentation will be the fourth and biggest test for Jaitley so far, as this time he has to present a blueprint to take the economy fighting the demonetization impact and find enough fiscal room to continue India’s growth momentum.
Here are 7 charts that gauge the health of the Indian economy:
1) Gross Domestic Product (GDP) growth
2) Rate of Inflation
3) Foreign Direct Investment Inflow
4) Industrial Growth
5) Agriculture, Forestry and Fishing Sector Growth
6) Current Account Balance
7) Gross Value Added (GVA) and Gross Domestic Product (GDP growth)