What does the Economic Survey state?The Government of India has submitted the Economic Survey as a prelude to the Budget for the next year (2018-19). The Economic Survey has been prepared by the Chief Economic Advisor Arvind Subramanaian. As per the Survey, India's economy is projected to grow between 7-7.5% in the next financial year (2018-19). The export and private investment are going to improve in a significant manner.
The Survey has further stated that there has been a 50% increase in the number of indirect taxpayers. The growth in direct tax collections of the Centre has kept pace with the previous year and is expected to meet targets, with a growth of 13.7%. Indirect taxes grew by 18.3% during April-November 2017.
The Survey has clearly stated that the States' prosperity is positively correlated with their international and inter-state trade. For the first time, the data on the international exports of states has been dealt with in the Economic Survey.
I also find that the Survey has mentioned that the incentive package boosted exports of readymade garments. The Survey has also pointed out that extreme weather adversely impacts agricultural yields in the country.
Overall, the Survey has presented a good projection of Indian economy in the next financial year.