The Survey gave an eye-opening analysis of internal migration and internal trade
Survey calls note ban a reverse helicopter drop, whose impact will be clear over a one-year horizon
It adds, states haven't tried to keep rates low & simple; revenue collection remains a key challenge
The Survey had a series of short notes on economic policy issues. A few of them are excerpted below:
Peninsular states to hit their crest earlier than northern ones
Survey adds, India could use low-skill sectors to boost export
Cautions against fiscal activism; FRBM Act important, but needs some modifications
Jewellery sector will be most disappointed if no relief comes from Budget, especially after note ban
Economic Survey recommends re-imposition of conditions on transfer of funds from Centre to states
The government has taken a number of steps to facilitate digital economy
It adds, Bengaluru and Jaipur are collecting no more than 5 to 20% of the potential
If the Budget is in sync with the Survey, we could see fiscal deficit at 3% of GDP by March 2018
Survey is more categorical as far as the options the govt has with regard to fiscal consolidation
Economic Survey outlines barriers to restoring high growth
Focus is on Universal Basic Income; even if it can't be implemented now, it can certainly be debated
No path-breaking or innovative ideas; focus is only on existing schemes of Modi govt
He adds that endeavour was to make Survey with 'some drama, some tragedy and some comedy'
According to Survey, protection of intellectual property right remains a challenge
Says note ban hit property sales hard in last two months; makes a case for bringing realty under GST
Municipalities that have generated more resources have delivered more basic services, it added