CII Director General Chandrajit Banerjee said in New Delhi that the Survey provides new ideas for building a positive momentum for growth in the coming year and for faster growth thereafter.
"Therefore, adjusting the base for double and triple counting, the GST has increased the number of unique indirect taxpayers by more than 50 percent -a substantial 3.4 million", it said.
Edited excerpts: What should be the action points for the government in the coming fiscal year?
The Economic Survey 2017-18, released Monday, has indicated demonetisation in 2016 helped boost aggregate household savings which found their way to the markets.
The survey underlined that the economy began to accelerate in the second half of the year and can clock 6.75 percent growth this fiscal due to the launch of transformational Goods and Services Tax reform July 1, 2017, and the new Indian Bankruptcy Code, which resolves the long-festering Twin Balance Sheet issue by now sending major stressed companies for resolution under the new code.
The comprehensive annual document on the Indian economy, which was tabled on Monday in the Parliament by Finance Minister Arun Jaitley, said that country's economic growth is expected to grow between 7 and 7.5% in the fiscal year 2019, while flagging concerns over rising crude oil price.
Measures to drive investments and exports will not only revive growth but also create large scale employment opportunities, it added.
While the growth of Service Sector as a whole is expected to be at 8.3 per cent in 2017-18, the growth in Services exports was 16.2 per cent in H1 of 2017-18. The central government is trying to further push the sector through initiatives such as Startup India, the survey noted.
Subramanian also told Arup Roychoudhury and Indivjal Dhasmana in an exclusive interaction he saw a three-rate goods and services tax in the next three years. So I think we need to watch oil prices very carefully. Just as the clothing sector has seen higher exports on the back of incentive package, we hope that the government extends similar incentives to other sectors as well, the release further said.
Large increase in voluntary registrations under GST, especially of small enterprises has led to greater formalization of the economy.
Here are the five main tax predictions made in Economic Survey 2018.
As with his murderous father, he suffers from anger and alcoholism as the result of trying to boring his pain. Flanagan co-wrote and directed the 2017 Netflix movie, which stars Carla Gugino and Bruce Greenwood.
US President Donald Trump says he is willing to speak under oath with Russian Federation probe chief Robert Mueller , reports say. Trump shrugged off questions about Sessions' interview at the White House , telling reporters: "I'm not at all concerned".
This includes measures to curb family sponsorship of immigrants and an end or change to the visa lottery programme. The White House presented the offer as a major concession aimed at attracting enough votes from Democrats.
Navalny himself served three jail sentences of 15 days, 25 days and 20 days for organising unauthorised protests past year . The opposition leader urged Muscovites not to give up. "You are not going there for me, it's for you and your future".
It was an electric touch to the Pelicans' hottest stretch of the season, polishing off their seventh in over the past eight games. For New Orleans , the possibility of the franchise's first playoff trip since 2015 is now in serious jeopardy.
The flames and explosion caused by this dubious experiment were immortalized by the store's CCTV cameras. An iPhone user in Nanjing City, China visited an electronics store to replace the battery of his device.
The Finnish company had launched the Nokia 7 back in October in China and the phone has not been launched in other markets yet. In addition, it will also come with an 18:9 display and thin bezel design that is seen as a feature on most smartphones now.
The Eagles quarterback said Friday he tore the LCL as well as the ACL in his left knee late in a Week 14 win over the Rams. He threw for 352 yards and three touchdowns in a 38-7 win over the Minnesota Vikings in the NFC Championship Game.
Snapchat will enable people to share and view its content outside of its app, Snapchat's parent company Snap announced on Tuesday. Snapchat has been suffering from declines in certain metrics that indicate fewer members are using the app every day.
Citi card members will have access to purchase pre-sale tickets through Citi's Private Pass Program beginning at 10 a.m. The Colonial Life Arena announced Monday that Stapleton's "All-American Road Show" will stop in Columbia on October 25.
After 38 minutes, Padraig Amond scored the game's opener, when the Irish striker nodded home at the back post. West Ham were without several injured first-choice players and an upset always looked on the cards.
Some of the rivalry tweets held previous year between Reliance Jio and many others telecom service providers. Under this segment, the costliest plan costs Rs. 449 and comes with 91 days validity with 136GB data.
They said: "Due to a gas leak in the Strand, WC2 businesses and hotels are being evacuated as a precaution". The discovery saw approximately 1,450 people being evacuated from the nearby Heaven nightclub and a hotel.
Tesla CEO Elon Musk has now confirmed the official date for the inaugural launch of SpaceX's Falcon Heavy . The first Falcon Heavy mission will even use two refurbished boosters from previous Falcon 9 missions.
Forsyth recently visited the Kutupalong refugee camp in Bangladesh's Cox Bazar. "This moment is not safe to go back", he said. They point to the case of Richardson, whose appointment has backfired by fuelling worldwide criticism of the state counsellor.
Musk hopes to use the Falcon Heavy to send tourists around the Moon, and to send supplies to Mars for a manned mission . Musk tweeted out the flight is aimed for February 6 from Apollo launchpad 39A at Cape Kennedy.
French meteorologists say the months of December and January were the third wettest ever since records began in 1900. It's enough to worry Joao de Macedo, janitor at a residential building in Paris's upscale 16th Arrondissement.
Sun Life Financial INC boosted its holdings in shares of Freeport-McMoRan by 96,340.0% in the 2nd quarter. (NYSE: FCX ). Its up 0.19, from 0.95 in 2017Q2. 55 funds opened positions while 102 raised stakes. (NASDAQ:NEWS) for 197,669 shares.
Gounder, who had led the Nabha jailbreak with five other prisoners in November 2016, continued to elude police. Prema Lahoria is a Jalandhar-based gangster who assisted Gounder in many killings, according the police.
This comes after Nelly reportedly admitted to having unprotected s*x with Monique Green , but says it was consensual. The woman says Nelly responded, "No, I'm just frustrated, I'm not used to not getting my way, just do it".
Many on social media used good dose of sarcasm to attack the Hindu right-wing groups for protesting against Padmaavat . He was detained by the police Karni Sena members protested outside a cinema in Lucknow around the same time today.
Leader McConnell has found this out. "Great to see how hard Republicans are fighting for our Military and Safety at the Border". As the meal progressed, an outline of an agreement was struck, according to one person familiar with the discussion: Mr.
It is now sitting at two minutes to midnight , scientists from the Bulletin of the Atomic Scientist announced this afternoon. In an uncharacteristic move, the scientists moved the clock by 30 seconds in 2017 , to 2½ minutes to midnight.
Settling down in Portland on their return to the United States it would be a decade before Le Guinn had her first book published. She published more than 20 novels, a dozen poetry collections, seven essay collections and 13 children's books.