Budget Session 2018 updates: Economic Survey sets agriculture, stronger GST, recapitalisation of banks as agenda for 2018-19

Policy should focus on agriculture, stabalising GST, privatisation of Air-India: Arvind Subramanian | ANI

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:Chief Economic Adviser pic.twitter.com/xYjSl1msUV

— ANI (@ANI) January 29, 2018

AAP MPs boycott President’s speech in Parliament | IANS

AAP MPs on Monday boycotted President Ram Nath Kovind’s address to a joint sitting of the Parliament on the first day of the Budget Session, as a protest against the disqualification of 20 party MLAs, IANS reported.

According to the news agency, Aam Aadmi Party Lok Sabha members Sadhu Singh, Bhagwant Mann and Rajya Sabha members Sanjay Singh, Sushil Gupta and N.D. Gupta raised slogans near a Gandhi statue in the Parliament premises, holding placards.

They were protesting against a sealing drive in Delhi, the Central government’s decision of allowing FDI in single-brand retail and the Election Commission’s decision to disqualify 20 Delhi AAP MLAs, it added.

AAP MPs including @BhagwantMann Sadhu Singh @SanjayAzadSln @AAPNDGupta @DrSushilGuptaMP protesting against Sealing, FDI in Retail & Disqualification of 20 Delhi MLAs inside the Parliament Campus.#AAPMarch4Traders pic.twitter.com/eHSSTz8BZ8

— AAP (@AamAadmiParty) January 29, 2018

Govt need not take any radical steps, just finish what started, says Arvind Subramanian

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: Arvind Subramanian, Chief Economic Adviser #EconomicSurvey2018 pic.twitter.com/3R14t1CZL6

— ANI (@ANI) January 29, 2018

Important steps have been taken to remove hurdles: Arvind Subramanian

From the very 1st survey onwards we've spoken about the twin balance sheet challenges, under capitalised banks which held back growth for a very long time. This year a series of very important steps are being taken: Arvind Subramanian, Chief Economic Adviser #EconomicSurvey2018 pic.twitter.com/fBnzrB6D2G

— ANI (@ANI) January 29, 2018

Rise in oil prices affected held back real economic activity: Arvind Subramanian

This year oil prices went up that affected consumption and govt finances and also held back real economic activity: Chief Economic Adviser Dr Arvind Subramanian pic.twitter.com/Nc71QBdeUa

— ANI (@ANI) January 29, 2018

Top 1% of Indian exporters account for 38 percent of exports: Arvind Subramanian

Indian exports are much less concentrated by firms: Top 1% of Indian exporters account for 38 percent of exports. Share much greater in other countries: 72, 68, 67, and 55 % in Brazil, Germany, Mexico, & USA, respectively #economicsurvey18 https://t.co/5qf2Hu6Lfx pic.twitter.com/8L2QWv0EGX

— Arvind Subramanian (@arvindsubraman) January 29, 2018

WATCH: Chief Economic Advisor Arvind Subramanian discuss the Economic Survey in detail

Sensex up 320 pts on Economic Survey growth projections | PTI

According to PTI, the benchmark Sensex maintained its early upward trend and was trading over 320 points higher after the Economic Survey said India is likely to clock 7-7.5 percent growth in 2018-19, up from 6.75 percent in the current fiscal.

The 30-share barometer, after scaling a new peak of 36,410.60 points in late morning trade on optimistic buying, succumbed to profit-booking at record levels and gave up a part of the gains.

It was trading at 36,370.92 at 1300 hours, up 320.48 points, or 0.89 percent, after the Economic Survey was tabled in Parliament, the news agency said.

Indian parents continue to have children until they have a son, reveals Economic Survey

Here is a list of ten key facts revealed in the Economic Survey:

Services growth for FY18 likely to be 8.3%: Economic Survey | CNN-News18

#Budget2018: Eco Survey - Services growth for FY18 likely to be 8.3%. Employment, education, agriculture to be focus area for medium term.

— News18 (@CNNnews18) January 29, 2018

‘Extreme weather adversely impacts agriculture yields’

#EconomicSurvey2018 New facts on the Indian Economy: Extreme weather adversely impacts agriculture yields.

— ANI (@ANI) January 29, 2018

Inflation remained moderate during 2017-18

Economic Survey 2017-18: Inflation in the country continued to moderate during 2017-18. Consumer Price Index(CPI) based headline inflation averaged 3.3 per cent during the period which is the lowest in the last six financial years.

— ANI (@ANI) January 29, 2018

Maharashtra, UP, Tamil Nadu and Gujarat see maximum GST registrants: Economic Survey 2017-18 | ANI

Economic Survey 2017-18: Maharashtra, UP, Tamil Nadu and Gujarat are the states with the greatest number of GST registrants. UP and West Bengal have been large increases in the number of tax registrants compared to the old tax regime. #EconomicSurvey2018

— ANI (@ANI) January 29, 2018

Preliminary analysis of the GST data reveals a 50% increase in no of indirect taxpayers: Economic Survey 2017-18

#Economic Survey 2017-18: A preliminary analysis of the GST data reveals that there has been a 50% increase in no. of indirect taxpayers, besides a large increase in voluntary registrations, especially by small enterprises. #EconomicSurvey2018

— ANI (@ANI) January 29, 2018

Rajya Sabha adjourned till 1 February | ANI

Rajya Sabha adjourned till 1st Feburary

— ANI (@ANI) January 29, 2018

Supporting agriculture; stabilising GST, and recapitalisation should be focus of economic policy

Policy Agenda for coming year: support agriculture; stabilize GST; finish resolution + recapitalization; privatize Air-India; head off macro-economic pressures. #economicsurvey18 https://t.co/VAfz77JvGp

— Arvind Subramanian (@arvindsubraman) January 29, 2018

Economic Survey predicts rise in export, private investment

Outlook
Upside potential: exports, pick-up in private investment
Factors to be watched: high/rising oil prices, sharp corrections of stock prices, “sudden stall” of capital flows #economicsurvey18 https://t.co/VAfz77JvGp

— Arvind Subramanian (@arvindsubraman) January 29, 2018

India added 1.8 million new Individual Income tax filers post GST, demonetisation: Arvind Subramanian

Post-demonetization and GST increase in new tax filers (over and above natural increase) of about 1.8 million and some boost to individual income tax collections (Ch 1, Box 2) #economicsurvey18 https://t.co/VAfz77JvGp pic.twitter.com/kMCeRt886y

— Arvind Subramanian (@arvindsubraman) January 29, 2018

GST revenues are doing well, witness 12% growth: Arvind Subramanian

GST revenues doing well: 12 percent growth, better buoyancy than previous taxes (Box 7, Ch. 1., Vol. 1) #economicsurvey18 https://t.co/VAfz77JvGp pic.twitter.com/wgROVrWmab

— Arvind Subramanian (@arvindsubraman) January 29, 2018

Robust and broad-based signs of revival visible in economic activity, says Arvind Subramanian

Robust and broad-based signs of revival in economic activity #economicsurvey18 https://t.co/VAfz77JvGp pic.twitter.com/63cvnFvsPJ

— Arvind Subramanian (@arvindsubraman) January 29, 2018

Growth reviving after temporary decoupling: Arvind Subramanian

Growth reviving after temporary decoupling, but nascent macro pressures (oil prices, fiscal) #economicsurvey18 https://t.co/VAfz77JvGp pic.twitter.com/ZHyh24qq6m

— Arvind Subramanian (@arvindsubraman) January 29, 2018

GST one of the major achievements of 2017, says Arvind Subramanian

Major achvmnts of past year 1) Implmntng GST, respnding quickly to transitional challnges 2) Tacklng longfestering Twin Balance Sheet challnge by sendng stressd debtors to IBC & bank recap
Validation: first sovereign upgrade in 14 years#economicsurvey18 https://t.co/VAfz77JvGp

— Arvind Subramanian (@arvindsubraman) January 29, 2018

Arun Jaitley tables Economic survey, says GDP expected to grow at 7.0 to 7.5% in 2018-19 | ANI

Economic Survey 2017-18: A series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19 #EconomicSurvey2018

— ANI (@ANI) January 29, 2018

FM Arun Jaitley tables Economic Survey 2017-18; Lok Sabha adjourned till 1 Feb

Economic Survey 2017-18 tabled in Lok Sabha by FM Jaitley pic.twitter.com/dnsM3PRxHZ

— ANI (@ANI) January 29, 2018

Economic Survey is a round-up of the year’s activity: Madan Sabnavis

The Economic Survey is nothing but a roundup of everything that has happened in the economy, says Madan Sabnavis, Chief Economist, CARE Ratings. However, the report is gathered at high frequency when it comes out on a quarterly basis. The Economic Survey is a comprehensive document that gives you economic data up to date but this is already known to the public.

The second part of the Survey is the ideology of the Chief Economic Advisor, Arvind Subramanian.  He will give his own view on how he looks at the economy and what should be done. It is prescriptive in nature and may not be followed by government at all. Subramanian may say fiscal prudence should be 3 percent. However, the Finance Minister Arun Jaitley may not take that into account while announcing the Budget. What Subramanian is saying is a theoretical point of view that is provided.  

I don’t expect anything from the Economic Survey. We get all the information from government and other sources. The Economic Survey is keeping it all together The Central Statistics Office (CSO) had said GDP of 6.5 percent is expected for the current year. The Survey will maintain that figure and not make any changes to it. We won’t know anything about the future of the economy from the Survey.

Finance Minister Arun Jaitley to present Economic Survey soon

Finance minister Arun Jaitley will table the Economic Survey in Parliament today. News18 brings an explainer on why the annual financial exercise is important. @Rounak_T https://t.co/pEilp1ihN1

— News18 (@CNNnews18) January 29, 2018

Finance Minister Arun Jaitley to present Economic Survey soon

Finance minister Arun Jaitley will table the Economic Survey in Parliament today. News18 brings an explainer on why the annual financial exercise is important. @Rounak_T https://t.co/pEilp1ihN1

— News18 (@CNNnews18) January 29, 2018

BJP Parliamentary Party Executive meeting at 2.30 pm today; NDA allies to meet at 3.30 pm

In the meanwhile, the BJP Parliamentary Party Executive meeting will take place today at 2.30 pm and another meeting of NDA allies at 3.30 pm, ANI reported

BJP Parliamentary Party Executive Meeting to take place today at 2.30 pm and another meeting of NDA allies at 3.30 pm.

— ANI (@ANI) January 29, 2018

Vice-president M Venkaiah Naidu addresses joint sitting of Lok Sabha and Rajya Sabha

In his short address to a joint sititng of Lok Sabha and Rajya Sabha, Vice-president M Venkaiah Naidu said that the dream of India doesn’t belong to one particular party or organisation, and that all parties must work together.

Kovind ends address, says parties must work together to bring simultaneious elections

President Kovind ended his joint address highlighting the importance of all parties to work together and the govt’s fight against corruption. 

Kovind said, “A sustained debate is required on the subject of simultaneous elections and all political parties need to arrive at a consensus on this issue.”

Our fight against corruption is continuing. In the past one year, registration of about 350,000 suspicious companies have been cancelled: President Ram Nath Kovind

— ANI (@ANI) January 29, 2018

Under Udaan, 56 airports and 31 helipads are being connected to commercial flights: Kovind

After Independence, while only 76 Airports were connected to Commercial flights, under 'Udaan' 56 Airports and 31 Helipads are being connected to commercial flights within 15 months only: President Ram Nath Kovind #UnionBudget2018 pic.twitter.com/YkaEoNL0sw

— News18 (@CNNnews18) January 29, 2018

Being part of Australia Group, Wassenar Arrangement a major accomplishment: Kovind

“Last year, India joined Missile Technology Control Regime, and this year we are part of the Wassenar Arrangement. We are also part of Australia Group. This success has come after a lot of effort, and is one of the main accomplishments of my government,” says Kovind

पिछले वर्ष Missile Technology Control Regime में शामिल होने के पश्चात् भारत को इस वर्ष Wassenar Arrangement और Australia Group में भी सदस्य के रूप मे शामिल किया गया है। यह सफलता लंबी जद्दोजहद के बाद मिली है और मेरी सरकार की एक महत्त्वपूर्ण उपलब्धि है — राष्ट्रपति कोविन्द

— President of India (@rashtrapatibhvn) January 29, 2018

Transport is a key focus of this government: Kovind

Towards quality infrastructure. pic.twitter.com/7KruzdMIec

— PMO India (@PMOIndia) January 29, 2018

India has always remained the First Responder in times of crises: Kovind

Service to humanity is an integral part of India’s cultural heritage. Because of these values, India has always remained the First Responder in times of crises, such as the earthquake in Nepal, flood calamity in Sri Lanka and drinking water crisis in Maldives.: President Kovind

— PMO India (@PMOIndia) January 29, 2018

Power generation has exceeded target: Kovind

Ensuring power availability to all. pic.twitter.com/p9zPN6rUY8

— PMO India (@PMOIndia) January 29, 2018

Aadhaar has helped eliminate the middlemen, secure the rights of the poor: Kovind

#UnionBudget2018 - Aadhaar has helped in securing the rights of the poor by eliminating middlemen. At present, digital payments are being carried out in more than 400 schemes of the government: President Ram Nath Kovind https://t.co/cs5TI69yVW

— News18 (@CNNnews18) January 29, 2018

Govt increased minimum wage of labourers by more than 40 percent: Kovind

Government increased minimum wage of labourers by more than 40 per cent: President Ram Nath Kovind #BudgetSession pic.twitter.com/1zScPWZ2ME

— ANI (@ANI) January 29, 2018

Kumbh Mela was included in ‘Intangible Cultural Heritage of Humanity’ by UNESCO: Kovind

#KumbhMela was included in ‘Intangible Cultural Heritage of Humanity’, #Ahmedabad is India’s first ‘Heritage City’ and #Chennai is part of 'Creative Cities' by @UNESCO: President Kovind #BudgetSession pic.twitter.com/UxJbwIV7lF

— DD News (@DDNewslive) January 29, 2018

Govt started Start Up India, Stand Up India and Skill India to help the youth: Kovind

Our nation is the youngest nation. My govt started Start Up India, Stand Up India, Skill India and Pradhanmantri Mudra Yojana to help the youth of the country to realise their dreams & make them self employed: President Kovind #BudgetSession

(Image courtesy: DDNews/Twitter) pic.twitter.com/X5SRG3RzMh

— IBTimes 🇮🇳 (@ibtimes_india) January 29, 2018

Government committed to strengthen, modernise school and higher education system: Kovind

#UnionBudget2018 - Education provides the foundation for building the future of the nation. My government is committed to strengthening and modernising school and higher education system in the country: President Ram Nath Kovind pic.twitter.com/FwynxXhHQb

— News18 (@CNNnews18) January 29, 2018

‘I hope the Triple Talaq Bill will be passed soon’: Kovind | ANI

I hope the Triple Talaq Bill will be passed soon so that the Muslim women can live a life of dignity and without fear: President Ram Nath Kovind #BudgetSession pic.twitter.com/DEQnf6VLya

— ANI (@ANI) January 29, 2018

Work under Pradhanmantri Gram Sadak Yojana accelerated to bring everyone closer to development: Kovind

To bring everyone closer to development, work under 'Pradhanmantri Gram Sadak Yojana' is being done speedily. In 2014 only 56% villages were connected to roads, today more than 82% villages have road connectivity with the majority being in remote areas: Pres Kovind #BudgetSession pic.twitter.com/JuFeukCE1A

— ANI (@ANI) January 29, 2018

2.70 Lakh Common Service Centers have been set up across the nation: Kovind

2.70 Lakh Common Service Centers have been set up across the nation. These Centers provide digital service at low rates for various services even in the far off remote areas: President Ram Nath Kovind #BudgetSession pic.twitter.com/rtJYEFHNSU

— ANI (@ANI) January 29, 2018

Govt committed to double income of farmers by 2022: Ram Nath Kovind

Addressing a joint sitting of both Houses of the Parliament, President Ram Nath Kovind said that the govt is committed to double the farmers’ income by 2022.

During his joint address to both Lok Sabha and Rajya Sabha, Kovind highlighted the achievements of the NDA government. He said that the govt approved a bill granting working woman paid maternity leave of 26 weeks.

He also said that India should pay tribute to Mahatma Gandhi on his 150th birth anniversary by making India completely clean.

The government is committed to double the income of farmers by the year 2022: President Ram Nath Kovind #BudgetSession pic.twitter.com/1Ydo4cw5Ph

— ANI (@ANI) January 29, 2018

President Ram Nath Kovind addresses joint sitting of Lok Sabha and Rajya Sabha

Delhi: President Ram Nath Kovind addresses both the Houses of the Parliament at the commencement of #BudgetSession pic.twitter.com/gzQnUWGBi1

— ANI (@ANI) January 29, 2018

President Ram Nath Kovind arrives at Parliament | ANI

Delhi: President Ram Nath Kovind arrives at the Parliament. He will be addressing both the Houses at the commencement of #BudgetSession pic.twitter.com/u0NRklFQ9n

— ANI (@ANI) January 29, 2018

Budget 2018 explained: What is Economic Survey of India?

The Economic Survey is an annual publication of the Finance Ministry which reviews the nation’s growth over the last 12 months. It  is presented to both houses of Parliament during the Budget Session and serves as a preview of the policy recommendations that could find a place in the Union Budget that follows it. The survey reviews all the government schemes, plans and measures undertaken by various departments of the governments, goals achieved, not achieved, as well what should be expected in the upcoming fiscal year.

President Ram Nath Kovind leaves for Parliament, will address joint sitting of Lok Sabha and Rajya Sabha

President Ram Nath Kovind leaves for Parliament. He will address the Joint Sitting of both Houses of Parliament shortly. #BudgetSession pic.twitter.com/X5Q6XbGXMC

— ANI (@ANI) January 29, 2018

Modi asks parties to make full use of parliamentary committees and discuss budget | ANI

We should make use of our system of parliamentary committees and discuss aspects of the #Budget. We should think about the well-being of rural India, farmers, Dalits, tribal communities and labourers: PM Modi pic.twitter.com/x7GOFNI3RI

— ANI (@ANI) January 29, 2018

Modi arrives at Parliament, says Budget 2018 will fulfill everyone’s aspirations

Speaking to the press outside the Parliament, Prime Minister Narendra Modi said that the current budget will fufill everyone’s aspirations.

“India is on a growth path. All credit rating agencies have improved ratings for India,” Modi said.

The prime minister also said that all parties should come together and support the Union Budget 2018. “The country is above the party,” Modi said asking all parties to come together and discuss ways to how to extend the benefits of the budget to the people.

This budget session is important. The world is extremely optimistic about India. The budget will add new vigour to India’s development and will fulfil aspirations of people: PM @narendramodi

— PMO India (@PMOIndia) January 29, 2018

Economic Survey effect: Sensex opens at record High, climbs over 307 Points; Nifty At 11,146

#Sensex Opens At Record High, Climbs Over 307 Points, Nifty At 11,146 Ahead of #EconomicSurvey, #BudgetSessionhttps://t.co/kOriKy0oja pic.twitter.com/SRLmnMmMXr

— Outlook India (@Outlookindia) January 29, 2018

CEA Arvind Subramanian to address media at 1.30 pm today

Chief Economic Advisor Arvind Subramanian will present highlights of the Economic Survey 2018 around 1.30 pm today at a press conference at the National Media Centre in the national capital.

I will be presenting highlights of the #economicsurvey18 at a press conference at the National Media Center at 130 pm today. https://t.co/lvVcCTQdLi

— Arvind Subramanian (@arvindsubraman) January 29, 2018

President Ram Nath Kovind to address joint sitting of Rajya Sabha and Lok Sabha today

The Budget Session of the Parliament will kick-off with President Ram Nath Kovind addressing a joint sitting of the Rajya Sabha and Lok Sabha. Kovind’s address will be broadcast live on television as well as on Facebook.

Second part of Budget Session will resume on 5 March after recess on 9 Feb

Following a recess after 9 February, Parliament will meet again from 5 March to 6 April. After the recess, she said, there would be 23 sittings and 82 hours when more discussions on the functioning of various ministries were expected.

Economic Survey to be tabled today

The first leg of the session will be between 29 January and 9 February during which the government will present the economic survey on 29 January, followed by the Union Budget on 1 February.

First part of Budget Session to begin today

Lok Sabha Speaker Sumitra Mahajan said the House would have eight sittings in the first part of the budget session starting Monday, during which 19 out of a total of 36 hours would be devoted on the discussion on the vote of thanks to the President’s address and the Union Budget for 2018-19.