News WrapGet Handpicked Stories from our editors directly to your mailbox

Economic Survey 2018: 'GST revenues doing well with 12 per cent growth,' tweets Chief Finance Adviser

File photo. Photograph:( Others )

WION Web Team Delhi, India Jan 29, 2018, 08.04 AM (IST)

Shortly after Union Finance Minister Arun Jaitley tabled the Economy Survey in the Parliament today, Chief Financial Adviser Arvind Subramanian took to Twitter sharing key points of the survey.

This year's survey was expected to analyze the GST implementation and the demonetisation move in detail. 

"GST shows cooperative federalism; 'technology' is powerful, must be used for other reforms involving states: agriculture, power, DBT. India went from 'crony socialism to stigmatised capitalism' hence recent actions on twin balance sheet noteworthy," tweeted Subramanian. 


Subramanian noted capital raising (public and private) to have "increased substantially".


According to Subramanian, some of the key areas and policy agenda for the upcoming fiscal year would include supporting agriculture, GST stabilisation, recapitalisation, privatisation of Air-India and combatting macroeconomic pressures. 


"GST revenues are doing well: 12 per cent growth, better buoyancy than previous taxes," noted Subramanian. 



Subramanian also highlighted some of the major achievements of the past year; implementing GST, responding quickly to transitional challenges, tackling long-festering twin balance sheet challenge featured on top of the list. 


Arvind Subramanian held a press conference a short while ago to share more details about the Economic Survey.