Economic Survey predicts 7-7.5% growth in 2018-19

The Economic Survey of India for financial year 2017-18 was tabled in Parliament today. The survey pegged India’s GDP growth at 7-7.5 per cent in the 2018 fiscal. GST data reveals 50 per cent increase in number of Indirect Taxpayers. The survey also states that Maharashtra, Gujarat, Karnataka, Tamil Nadu and Telangana account for 70 per cent of India’s exports. India’s internal trade in goods and services is 60 per cent of GDP. Real GDP growth to clock this fiscal is 6.75 per cent. Employment, education and agriculture to be the focus areas in medium term, Says Survey.

The survey is an account of the performance of India’s economy during the ongoing financial year. “Tourism sector has been performing well with Foreign Tourist Arrivals growing by 9.7 per cent to 8.8 million and Foreign Exchange Earnings at 8.8 per cent to $22.9 billion in 2016,” observes the survey.

The Survey, however, voices concern over the rising oil prices. The data suggests that progress has been made in providing bank accounts, cooking gas, housing, power and toilets to the poor & marginalised