BREAKING NEWS: Economic Survey tabled, FY18 GDP growth in range of 6.75%-7.5%

Chief Economic Adviser Arvind Subramanian tabled the economic survey 2016-17, a detailed documents which outlines the performance of Indian economy and paves way forward for the Indian Government.

The Economic Survey is the official report card of the economy and will serve as the guiding map for the Government on how to focus on the economic growth, suggesting policy changes. It basically sets the tone for the Union Budget.

It is presented a day before the Budget, which is largely prepared on basis on this annual document.

Here are the main highlights:
The survey details, cash ban and rise in oil prices risks to FY 18 GDP growth

Three main downside risks to FY18 GDP growth forecast

Sees FY18 GDP growth in range of 6.75-7.5%

Expect fiscal windfall from banned notes not returned

Demonetisation a risk to FY18 GDP growth forecast

Rise in global trade tensions risk to FY18 GDP growth

Sharp rise in prices in FY 18 may limit monetary easing headroom

Currency shortage to effect supply of some products

Outlook for GST collections must be cautious

Need to seriously consider universal income basic data

Muted non tax revenue and Govt salaries to weigh heavy on FY18 fiscal map

Agri sector to grow by 4.1% in FY18