Finance Minister files economic survey
Posted on: 31/Jan/2017 4:58:42 PM
Finance Minister Arun Jaitley has filed the economic survey for the year 2016-17 at the Lok Sabha today. This contains descriptive report on the economic status of the nation. In this, it is stated that the overall production in the country in 2016-17 will be 7.1 percent. During the period 2017-18, the growth in economy will be of 6.75 to 7.50 percent. The growth in GDP rate is 6.5 percent. It is important to make amendments in labors tax policy.
During fiscal year 2018, customs tax will be 0.1 percent lesser. It is imperative to make changes in policies to meet the changes caused by demonetization announcement.
In 2016-17, there will be 5.2 percent reduction in industry sector, it further states.
