Economic Survey 2018 was tabled before the joint sitting of the Parliament today. On the very first day of the budget session, ruling government tabled the economic survey for the fiscal year 2017-2018. It’s presented by the finance minister who had reviewed overall economy state in a year and highlighted the initiatives of the government. The economic survey 2018 had also summarised the prospects of the economy in short to medium term. The economic survey found that the export performance and states standard of living are strongly interrelated with each other. As per the reports, several points were highlighted in the economic survey of the fiscal year from 2017-2018.
The major point which was highlighted by the government in the economic survey is that it estimates the FY19 GDP growth up to 7-7.5 percent vs 6.75 for FY18. Also, the gross value predicted for FY18 is 6.1 percent against 6.6 percent for the previous financial year. And according to the survey, the agriculture, employment and education are the key focus are in the medium term. In relation to the economic survey, the Chairman of Niti Ayog says that he hopes that government will stick to its 3 percent fiscal deficit target for FY19, but it’s possible that the deficit could end up higher than that.
The Economic Survey also says that the private investment is poised for a rebound. And it had called that the prevailing high oil prices are the matter of concern. The consumer demand is likely to be aided by low real estate says economic survey. This survey acknowledged that government’s Beti Bachao Beti Padhao, Sukanya Samridhi Schemes and maternity leave rules are all the steps taken in the right direction. CEA Arvind Subramanian said that the economic survey 2018, GST data provides the first glimpse into states, international exports and the export which is internationally more prosperous.