[Economic Survey 2016-17] Highlights Economic Survey 2016-17, Download Economic Survey 2016-17

January 31, 2017:  The survey was prepared by the finance ministry's chief economic adviser Arvind Subramanian. Union finance Minister Arun Jaitley tabled the Economic Survey 2016-17 in
Parliament budget session. The survey projects the economy to grow in the range of 6.75% to 7.25% in fiscal year 2017-18 in the post-demonetisation year. It says that the adverse impact of demonetisation on GDP growth will be transitional.

Here are the highlights of the report:


Growth

* 2017/18 GDP growth seen between 6.75 and 7.5 per cent year on year
* GDP growth rate at constant market prices for the current year 2016/17 is placed at 7.1 per cent
* The federal statistics office's estimate of 7.1 per cent growth for 2016/17 likely to be revised downwards
* Service sector is estimated to grow at 8.9 per cent in 2016/17
* Industrial growth rate expected to moderate to 5.2 per cent in 2016/17 from 7.4 per cent in 2015/16

Fiscal Deficit

* Implementation of wage hike, muted tax receipts to put pressure on fiscal deficit in 2017/18
* Need for fiscal prudence for both centre and states for fiscal health of the economy
* Fiscal windfall from low oil prices to disappear in2017/18 - TV channels

Monetary Policy

* Sharp rise in prices in 2017/18 may cap monetary easing headroom
* Market interest rates seen lower in 2017/18 due to demonetisation
Government debt
* Government debt to GDP ratio in 2016 seen at 68.5 per cent down from 69.1 per cent in 2015

Demonetisation

* Remonetisation will ensure that the cash squeeze is eliminated by April 2017
* Supply of currency should follow actual demand and not be dictated by official estimate of desirable demand
* Government windfall arising from unreturned notes should be deployed towards capital spending

Banks

* Suggests setting up public sector asset rehabilitation agency to take charge of large bad loans in banks
* Central agency with government backing could overcome coordination and political issues on bad loans

Taxation

* Income tax rates and real estate stamp duties could be reduced
* Timetable for reducing corporate tax rate could be accelerated

Universal basic income

* Universal Basic Income (UBI) proposal a powerful idea, but not ready for implementation
* UBI an alternative to plethora of state subsidies for poverty alleviation
* UBI would cost between 4 and 5 per cent of GDP

Download Economic Survey 2016-17 : Here

3 comments:

  1. khdubhai kya aap ye bta sakte h ki 2016-17 has me hindi medium se kitne student select huye hai plz bro

    ReplyDelete
  2. Dear DSP , kindly suggest books for geology beside mohapatra., Bangar and engineering and structural geology for graduate. How to get notes on geology from you if any.
    Thanks
    Dr. Pawan

    ReplyDelete
  3. any idea about prelims exams date this year?

    ReplyDelete

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