Eco Survey: Growth back on track; 50% rise in indirect taxpayers under GST

GDP growth pegged at 6.75% this year, 7-7.5% in FY19; 12% revenue growth projected; risk factors: oil price spike, pvt investment recovery delay

In the Economic Survey for 2017-18, which was tabled in Parliament on Monday, Chief Economic Advisor Arvind Subramanian struck an optimistic note about economic growth going forward. The Survey noted that there were “robust signs of growth” in the second half of the financial year, and predicted that growth for the full 2017-18 financial year would be 6.75 per cent year on year, higher than the Central Statistics Office’s prediction of 6.5 per cent. 

The Survey further estimated that the fading of shocks to economic activity like demonetisation together with a recovery in global demand and some domestic policy actions would