Pre-Budget Economic Survey

The responsible revenue and expenditure projections are to be lauded, but efforts on trade and fiscal targets fall short

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Vision document in July to provide road map for next 3-5 years as well as for 'Amrit Kaal'

A pre-budget expectations survey showed increasing demand for making investments more attractive in the pharmaceutical industry.

Many of their ideas, such as DBT, diesel deregulation, bad bank, flexible inflation targeting have been launched, some of them partially; others such as UBI, printing more money haven't taken off

The revised fiscal glide path, as per the Survey released on Thursday, envisages achieving fiscal deficit of 3 per cent of GDP by FY 2020-21

To push the agenda for resource efficiency, the Survey has asked for the formulation of a national policy on the same

Non-tax revenues have the potential to expand and make up for the revenue shortfall, said CEA Krishnamurthy Subramanian

It also has business indicators spanning from start-ups to logistics, and from resources to competitiveness

In the two years of the IBC, real estate was the top sector, with 20 per cent of the insolvency cases being registered

The Survey praised the government's performance on the provision of certain last-mile goods, combined with behavioural changes

The Survey advocated creating a real-time data base of rural distress, using the MGNREGS job demand data

This is an important insight into price situation in the economy, especially when inflation in health and education was more than the average general CPI

The data from the NSO shows the share of food and beverages has reduced from 33.2 per cent of private consumption in 2011-12 to 30 per cent in 2017-18 - a reduction of over three percentage points

It warned that if the impact of the stress in the NBFC sector spilled over this year, it might lead to lower credit offtake from NBFCs

This savings behaviour also gives a key degree of freedom to policymakers as the savers and the borrowers can be disentangled

It also suggested a re-look at capital gains tax, levied on profits from the sale of shares in unlisted companies

The Survey explicitly addresses the issue of a high investment rate substituting labour

Supports Code on Wages Bill, approved by Cabinet on Wednesday, to rationalise minimum wages; calls present system complex, with 1,915 wages for various job categories across states