Economic Survey projects GDP growth at 6.75%-7.5% for 2017-18

Follow up demonetisation by bringing land and real estate into the GST, suggests the survey

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Chief Economic Adviser Dr Arvind Subramanian

BS B2B Bureau New Delhi

Last Updated : Feb 01 2017 | 10:19 AM IST

The Economic Survey 2017, presented in Parliament yesterday, has projected the real GDP growth for 2017-18 in the range of 6.75 percent to 7.5 percent. Stating that the adverse impact of demonetisation on GDP growth will be transitional, Finance Minister Arun Jaitley, said, “Once the cash supply is replenished, which is likely to be achieved by end March 2017, the economy would revert to the normal.”

The Economic Survey points out that demonetisation will have both short-term costs and long-term benefits. Briefly, the costs include a contraction in cash money supply and subsequent, albeit temporary, slowdown in GDP growth; and benefits

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