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Page 1
Economic Survey
Chapter wise
Economic Survey –Volume
Chapter wise summary document
Volume 2
Page 2
Economic Survey
Chapter wise
Economic Survey –Volume
Chapter wise summary document
Volume 2
Volume 2 of Economic Survey (2018
Topics covered:-
1. State of the economy......................................................
2. Fiscal Developments....................................................
3. Monetary management and
4. Price and Inflation............................................................
5. Sustainable development and Climate Change.................
6. External Sector.............................................................
7. Agriculture and Food Management
8. Industry and Infrastructure.............................
9. Services Sector...............................................................
10. Social Infrastructure, E
Volume 2 of Economic Survey (2018-19)
economy..................................................................
................................................................
Monetary management and Financial Intermediation.......................
......................................................................
development and Climate Change.......................
..................................................................................
Agriculture and Food Management............................................
Industry and Infrastructure.............................................................
................................................................................
Social Infrastructure, Employment and Human Development........
..........................1
.............................4
.........................6
.......................11
.......................13
..........................21
.......................25
.......................34
.........................43
opment.................50
Page 3
Economic Survey
Chapter wise
Economic Survey –Volume
Chapter wise summary document
Volume 2
Volume 2 of Economic Survey (2018
Topics covered:-
1. State of the economy......................................................
2. Fiscal Developments....................................................
3. Monetary management and
4. Price and Inflation............................................................
5. Sustainable development and Climate Change.................
6. External Sector.............................................................
7. Agriculture and Food Management
8. Industry and Infrastructure.............................
9. Services Sector...............................................................
10. Social Infrastructure, E
Volume 2 of Economic Survey (2018-19)
economy..................................................................
................................................................
Monetary management and Financial Intermediation.......................
......................................................................
development and Climate Change.......................
..................................................................................
Agriculture and Food Management............................................
Industry and Infrastructure.............................................................
................................................................................
Social Infrastructure, Employment and Human Development........
..........................1
.............................4
.........................6
.......................11
.......................13
..........................21
.......................25
.......................34
.........................43
opment.................50
Chapter 1- State of the economy in 2018
View
Global economic Scenario:
? India’s contribution to GDP of
Economies and world economy
? World Economic Outlook
economy will be boosted mainly by the growth in India and China and
their increasing weights in
? World output declined to 3.6% in 2018
Indian Economic Scenario:
? India is still the fastest growing major economy and 7th largest
economy in terms of GDP in 2018
? India’s GDP at current international dollar with
ranks 3rd in the world.
? Growth of India’s GDP moderated to 6.8% in
2017-18.
Various reasons behind moderation
? “Agriculture and allied”
contraction in food prices.
? Lower growth in trade,
service related to broadcasting.
? Moderation in public administration and defence sectors
? Election related uncertai
? Deceleration in manufacturing sector has hindered growth of
industry sector. IIP of manufacturing sector grew at 0.3%
compared to 7.5% in the s
? Slowdown in auto sec
? Stress in NBFC’s also contributed to slowdown.
? Trade deficit increased from US$ 162.1 billion in 2017
billion in 2018-19.
? FDI inflows grew by 14.2% in 2018
attracting FDI equity infl
were the major categories.
? Direct taxes grew by 13.4
corporate tax. However, indirect taxes fell short of budget estimates
by about 16% following a shortfall in GST revenues.
SUMMARY DOCUMENT
State of the economy in 2018-19 : A Macro
India’s contribution to GDP of Emerging Markets and Developing
and world economy has increased over the years.
utlook report of IMF states that growth of world
economy will be boosted mainly by the growth in India and China and
their increasing weights in world’s income.
World output declined to 3.6% in 2018
fastest growing major economy and 7th largest
y in terms of GDP in 2018-19.
India’s GDP at current international dollar with PPP adjustments
Growth of India’s GDP moderated to 6.8% in 2018-19 from 7.2% in
Various reasons behind moderation are mainly due to:
“Agriculture and allied”- Decline in rabbi crop production and
contraction in food prices.
Lower growth in trade, hotel, transport, communication and
vice related to broadcasting.
Moderation in public administration and defence sectors.
Election related uncertainty may have contributed too.
Deceleration in manufacturing sector has hindered growth of
r. IIP of manufacturing sector grew at 0.3%
compared to 7.5% in the same quarter of previous year.
Slowdown in auto sector.
Stress in NBFC’s also contributed to slowdown.
increased from US$ 162.1 billion in 2017-18 to US$ 184
ows grew by 14.2% in 2018-19. Among the top sectors
attracting FDI equity inflows, services, automobiles and chemicals
were the major categories.
by 13.4% owing to improved performance of
, indirect taxes fell short of budget estimates
by about 16% following a shortfall in GST revenues.
1
Page 4
Economic Survey
Chapter wise
Economic Survey –Volume
Chapter wise summary document
Volume 2
Volume 2 of Economic Survey (2018
Topics covered:-
1. State of the economy......................................................
2. Fiscal Developments....................................................
3. Monetary management and
4. Price and Inflation............................................................
5. Sustainable development and Climate Change.................
6. External Sector.............................................................
7. Agriculture and Food Management
8. Industry and Infrastructure.............................
9. Services Sector...............................................................
10. Social Infrastructure, E
Volume 2 of Economic Survey (2018-19)
economy..................................................................
................................................................
Monetary management and Financial Intermediation.......................
......................................................................
development and Climate Change.......................
..................................................................................
Agriculture and Food Management............................................
Industry and Infrastructure.............................................................
................................................................................
Social Infrastructure, Employment and Human Development........
..........................1
.............................4
.........................6
.......................11
.......................13
..........................21
.......................25
.......................34
.........................43
opment.................50
Chapter 1- State of the economy in 2018
View
Global economic Scenario:
? India’s contribution to GDP of
Economies and world economy
? World Economic Outlook
economy will be boosted mainly by the growth in India and China and
their increasing weights in
? World output declined to 3.6% in 2018
Indian Economic Scenario:
? India is still the fastest growing major economy and 7th largest
economy in terms of GDP in 2018
? India’s GDP at current international dollar with
ranks 3rd in the world.
? Growth of India’s GDP moderated to 6.8% in
2017-18.
Various reasons behind moderation
? “Agriculture and allied”
contraction in food prices.
? Lower growth in trade,
service related to broadcasting.
? Moderation in public administration and defence sectors
? Election related uncertai
? Deceleration in manufacturing sector has hindered growth of
industry sector. IIP of manufacturing sector grew at 0.3%
compared to 7.5% in the s
? Slowdown in auto sec
? Stress in NBFC’s also contributed to slowdown.
? Trade deficit increased from US$ 162.1 billion in 2017
billion in 2018-19.
? FDI inflows grew by 14.2% in 2018
attracting FDI equity infl
were the major categories.
? Direct taxes grew by 13.4
corporate tax. However, indirect taxes fell short of budget estimates
by about 16% following a shortfall in GST revenues.
SUMMARY DOCUMENT
State of the economy in 2018-19 : A Macro
India’s contribution to GDP of Emerging Markets and Developing
and world economy has increased over the years.
utlook report of IMF states that growth of world
economy will be boosted mainly by the growth in India and China and
their increasing weights in world’s income.
World output declined to 3.6% in 2018
fastest growing major economy and 7th largest
y in terms of GDP in 2018-19.
India’s GDP at current international dollar with PPP adjustments
Growth of India’s GDP moderated to 6.8% in 2018-19 from 7.2% in
Various reasons behind moderation are mainly due to:
“Agriculture and allied”- Decline in rabbi crop production and
contraction in food prices.
Lower growth in trade, hotel, transport, communication and
vice related to broadcasting.
Moderation in public administration and defence sectors.
Election related uncertainty may have contributed too.
Deceleration in manufacturing sector has hindered growth of
r. IIP of manufacturing sector grew at 0.3%
compared to 7.5% in the same quarter of previous year.
Slowdown in auto sector.
Stress in NBFC’s also contributed to slowdown.
increased from US$ 162.1 billion in 2017-18 to US$ 184
ows grew by 14.2% in 2018-19. Among the top sectors
attracting FDI equity inflows, services, automobiles and chemicals
were the major categories.
by 13.4% owing to improved performance of
, indirect taxes fell short of budget estimates
by about 16% following a shortfall in GST revenues.
1
Drivers of the growth: Consumption has always been a strong and major
driver of growth in the economy for India.
? Especially private final consumption has always been a strong and
major driver of growth in the economy
share of private consumption in G
consumption has undergone some change over time.
Changing pattern of consumption in India
? The pattern of consumption has undergone some change over
time – from essentials to luxuries and from goods to services
This shows an increase in discretionary spending by the
households as compared to the necessities.
? This shift is also visible in the change in pattern of
consumption of goods to services
share of goods in total fina
? The share of non-food expenditure has increased
expenditure share increasing for education, medical, conveyance
and durable goods.
? Second component of consumption is the government final
consumption expenditure (GFCE). Growth of GFCE decelerated from
15.0 per cent in 2017-18 to 9.2 per cent in 2018
? The third major component
(Gross Capital Formation) accounts for nearly 32 per cent of GDP,
within which fixed investment (Gross fixed capital formation)
accounts for about 29 per cent of GDP.
? Green shoots (fresh investments) in the investment a
be taking hold as also seen in the pickup in credit growth to industry.
Credit to, large and micro, small & medium enterprises has also
witnessed pickup in growth.
? Investment rates have been declining since 2011
investment rate in services is displaying signs of bottoming out. In
2017-18, investment rate in services sector became the highest.
SUMMARY DOCUMENT
Consumption has always been a strong and major
driver of growth in the economy for India.
Especially private final consumption has always been a strong and
major driver of growth in the economy (approx 60 %). Although the
share of private consumption in GDP remains high, the pattern of
ndergone some change over time.
Changing pattern of consumption in India
The pattern of consumption has undergone some change over
from essentials to luxuries and from goods to services.
s shows an increase in discretionary spending by the
households as compared to the necessities.
This shift is also visible in the change in pattern of spending from
consumption of goods to services. There has been a decline in
share of goods in total final consumption.
food expenditure has increased with the
expenditure share increasing for education, medical, conveyance
Second component of consumption is the government final
consumption expenditure (GFCE). Growth of GFCE decelerated from
18 to 9.2 per cent in 2018-19.
The third major component of demand is investment. Investment
(Gross Capital Formation) accounts for nearly 32 per cent of GDP,
within which fixed investment (Gross fixed capital formation)
accounts for about 29 per cent of GDP.
Green shoots (fresh investments) in the investment activity appear to
be taking hold as also seen in the pickup in credit growth to industry.
Credit to, large and micro, small & medium enterprises has also
growth.
Investment rates have been declining since 2011-12, though the
rate in services is displaying signs of bottoming out. In
18, investment rate in services sector became the highest.
2
GFCE comprises
government’s (revenue)
expenditure on
compensation of
employees, net
purchase of goods and
services and
consumption of fixed
capital
Page 5
Economic Survey
Chapter wise
Economic Survey –Volume
Chapter wise summary document
Volume 2
Volume 2 of Economic Survey (2018
Topics covered:-
1. State of the economy......................................................
2. Fiscal Developments....................................................
3. Monetary management and
4. Price and Inflation............................................................
5. Sustainable development and Climate Change.................
6. External Sector.............................................................
7. Agriculture and Food Management
8. Industry and Infrastructure.............................
9. Services Sector...............................................................
10. Social Infrastructure, E
Volume 2 of Economic Survey (2018-19)
economy..................................................................
................................................................
Monetary management and Financial Intermediation.......................
......................................................................
development and Climate Change.......................
..................................................................................
Agriculture and Food Management............................................
Industry and Infrastructure.............................................................
................................................................................
Social Infrastructure, Employment and Human Development........
..........................1
.............................4
.........................6
.......................11
.......................13
..........................21
.......................25
.......................34
.........................43
opment.................50
Chapter 1- State of the economy in 2018
View
Global economic Scenario:
? India’s contribution to GDP of
Economies and world economy
? World Economic Outlook
economy will be boosted mainly by the growth in India and China and
their increasing weights in
? World output declined to 3.6% in 2018
Indian Economic Scenario:
? India is still the fastest growing major economy and 7th largest
economy in terms of GDP in 2018
? India’s GDP at current international dollar with
ranks 3rd in the world.
? Growth of India’s GDP moderated to 6.8% in
2017-18.
Various reasons behind moderation
? “Agriculture and allied”
contraction in food prices.
? Lower growth in trade,
service related to broadcasting.
? Moderation in public administration and defence sectors
? Election related uncertai
? Deceleration in manufacturing sector has hindered growth of
industry sector. IIP of manufacturing sector grew at 0.3%
compared to 7.5% in the s
? Slowdown in auto sec
? Stress in NBFC’s also contributed to slowdown.
? Trade deficit increased from US$ 162.1 billion in 2017
billion in 2018-19.
? FDI inflows grew by 14.2% in 2018
attracting FDI equity infl
were the major categories.
? Direct taxes grew by 13.4
corporate tax. However, indirect taxes fell short of budget estimates
by about 16% following a shortfall in GST revenues.
SUMMARY DOCUMENT
State of the economy in 2018-19 : A Macro
India’s contribution to GDP of Emerging Markets and Developing
and world economy has increased over the years.
utlook report of IMF states that growth of world
economy will be boosted mainly by the growth in India and China and
their increasing weights in world’s income.
World output declined to 3.6% in 2018
fastest growing major economy and 7th largest
y in terms of GDP in 2018-19.
India’s GDP at current international dollar with PPP adjustments
Growth of India’s GDP moderated to 6.8% in 2018-19 from 7.2% in
Various reasons behind moderation are mainly due to:
“Agriculture and allied”- Decline in rabbi crop production and
contraction in food prices.
Lower growth in trade, hotel, transport, communication and
vice related to broadcasting.
Moderation in public administration and defence sectors.
Election related uncertainty may have contributed too.
Deceleration in manufacturing sector has hindered growth of
r. IIP of manufacturing sector grew at 0.3%
compared to 7.5% in the same quarter of previous year.
Slowdown in auto sector.
Stress in NBFC’s also contributed to slowdown.
increased from US$ 162.1 billion in 2017-18 to US$ 184
ows grew by 14.2% in 2018-19. Among the top sectors
attracting FDI equity inflows, services, automobiles and chemicals
were the major categories.
by 13.4% owing to improved performance of
, indirect taxes fell short of budget estimates
by about 16% following a shortfall in GST revenues.
1
Drivers of the growth: Consumption has always been a strong and major
driver of growth in the economy for India.
? Especially private final consumption has always been a strong and
major driver of growth in the economy
share of private consumption in G
consumption has undergone some change over time.
Changing pattern of consumption in India
? The pattern of consumption has undergone some change over
time – from essentials to luxuries and from goods to services
This shows an increase in discretionary spending by the
households as compared to the necessities.
? This shift is also visible in the change in pattern of
consumption of goods to services
share of goods in total fina
? The share of non-food expenditure has increased
expenditure share increasing for education, medical, conveyance
and durable goods.
? Second component of consumption is the government final
consumption expenditure (GFCE). Growth of GFCE decelerated from
15.0 per cent in 2017-18 to 9.2 per cent in 2018
? The third major component
(Gross Capital Formation) accounts for nearly 32 per cent of GDP,
within which fixed investment (Gross fixed capital formation)
accounts for about 29 per cent of GDP.
? Green shoots (fresh investments) in the investment a
be taking hold as also seen in the pickup in credit growth to industry.
Credit to, large and micro, small & medium enterprises has also
witnessed pickup in growth.
? Investment rates have been declining since 2011
investment rate in services is displaying signs of bottoming out. In
2017-18, investment rate in services sector became the highest.
SUMMARY DOCUMENT
Consumption has always been a strong and major
driver of growth in the economy for India.
Especially private final consumption has always been a strong and
major driver of growth in the economy (approx 60 %). Although the
share of private consumption in GDP remains high, the pattern of
ndergone some change over time.
Changing pattern of consumption in India
The pattern of consumption has undergone some change over
from essentials to luxuries and from goods to services.
s shows an increase in discretionary spending by the
households as compared to the necessities.
This shift is also visible in the change in pattern of spending from
consumption of goods to services. There has been a decline in
share of goods in total final consumption.
food expenditure has increased with the
expenditure share increasing for education, medical, conveyance
Second component of consumption is the government final
consumption expenditure (GFCE). Growth of GFCE decelerated from
18 to 9.2 per cent in 2018-19.
The third major component of demand is investment. Investment
(Gross Capital Formation) accounts for nearly 32 per cent of GDP,
within which fixed investment (Gross fixed capital formation)
accounts for about 29 per cent of GDP.
Green shoots (fresh investments) in the investment activity appear to
be taking hold as also seen in the pickup in credit growth to industry.
Credit to, large and micro, small & medium enterprises has also
growth.
Investment rates have been declining since 2011-12, though the
rate in services is displaying signs of bottoming out. In
18, investment rate in services sector became the highest.
2
GFCE comprises
government’s (revenue)
expenditure on
compensation of
employees, net
purchase of goods and
services and
consumption of fixed
capital
Investment rate in agriculture still continues to lag behind and now is
half the investment rate in the industry sector.
? There has been a decline in savings rate as well, with the household
sector entirely contributing to the decline
SUMMARY DOCUMENT
Investment rate in agriculture still continues to lag behind and now is
half the investment rate in the industry sector.
been a decline in savings rate as well, with the household
sector entirely contributing to the decline.
3
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