TIL Desk/Business/New Delhi/ Chief Economic Adviser Arvind Subramanian address a press conference after the Economic Survey 2018-19 expected to regain India’s GDP growth to be between 7-7.5% in 2018-19, from 6.75%.
Here are the highlights:-
– This year oil prices went up that affected consumption and govt. finances and also held back real economic activity.
– We think of the twin balance sheet challenges having 4 ‘R’s — Recognition, Resolution, Recapitalisation and Reforms. I think now we are well ahead on all of them.
– Government does not have to do anything radical; just finishing what it has started already would be a very ambitious and fantastic agenda to complete.
– Temporary effects of GST, note ban are over.
– Policy agenda for the year ahead-support agriculture, stabalise GST, complete TBS actions with reforms, privatise Air-India and head-off macro economic pressures and possibility of a ‘sudden stall’ from rising oil prices and sharp correction in stock prices.
