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Economic Survey 2018-19: Key Highlight with Details, Union Budget Nirmala Sitharaman

Economic Survey 2018-19: Key Highlight with Details, Union Budget Nirmala Sitharaman
Economic Survey 2018-19: Key Highlight with Details, Union Budget Nirmala Sitharaman

Economic Survey 2018-19: Key Highlight with Details, Union Budget Nirmala Sitharaman

Economic Survey 2018-19 Key Highlight with DetailsThe Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman tabled the Economic Survey 2018-19 in Parliament Thursday, projected GDP (gross domestic product) growth at 7 per cent in the 2019-20 fiscal year from an estimated 6.8 per cent in the previous year.

Economic Survey 2018-19 estimates the fiscal deficit to be 5.8%. Significantly, Nirmala Sitharaman will present the first Union Budget of the second term of the Modi government on Friday.

Economic Survey 2018-19 Budget: Highlight with Details

  • Economic Survey Outlines strategic Blueprint to achieve Prime Minister’s Vision for $5 trillion Economy
  • Economic Survey Calls for a Sustained 8% Growth Rate for India to Become a USD 5 Trillion Economy by 2024-25.
  • Debt recovery mechanism strengthened with the enactment of Insolvency and Bankruptcy Code (IBC), 2016
  • Economic Survey 2018-19: General Government (Centre plus States) has been on the path of fiscal consolidation
  • India undertaking one of the world’s largest renewable energy expansion programmes
  • 10.6 million foreign tourists arrive in India 2018-19 compared to 10.4 million in 2017-18
  • Government’s intervention essential to leverage Data as a ‘Public Good’, to unlock its benefit for larger betterment of Society: Economic Survey
  • Expenditure on Social Services increased by more than one percentage points as proportion of GDP during the last five years: Economic Survey
  • Headline inflation based on CPI-C declined to 3.4 per cent in 2018-19; has continued declining trend for fifth straight financial year; below 4.0 per cent in the last two years
  • Over 9.5 crore toilets built across India since the launch of Swachh Bharat Mission
  • Performance of the banking system improved as NPA ratios declined and credit growth accelerated
  • A Robust and Resilient Infrastructure Needed to Create a Ten Trillion Dollar Economy by 2032
  • Nourishing Dwarfs to become Giants: Reorienting policies for MSME Growth
  • Incident of train collisions has come down to zero in 2018-19 in Indian Railways says The Economic Survey 2018-19
  • India’s Demography at 2040 : Planning Public Good Provision for the 21st Century
  • National priority should be to shift from ‘land productivity’ to ‘irrigation water productivity’ and give special thrust to Micro Irrigation
  • Deregulating labour law restrictions
  • Economic Survey recommends Investment in Well-Functioning Legal System, given its Potential Economic and Social Multiplier Effect
  • Priority for the Government is to ensure access to sustainable and clean energy sources;
  • India follows a holistic approach towards its 2030 Sustainable Development Goals (SDGs)
  • Survey stresses reducing economic policy uncertainty in the country to promote investment
  • India need to increase its per capita energy consumption at least 2.5 times to increase its Real Per Capita GDP by $5000 per capita to enter the Upper-middle Income Group
  • Effective Use of Technology for Welfare Schemes – Case of MGNREGS
  • India’s foreign exchange reserves continue to be comfortable
  • Economic Survey calls for Redesigning a Minimum Wage System in India for Inclusive Growth
  • Appropriate policy measures needed to lower the overall lifetime ownership costs of Electric Vehicles
  • Application of behavioural economics can play key role in success of public policies and programmes: Economic Survey

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