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Highlights of Economic Survey 2017
- Demonetisation may affect supplies of certain agricultural products like sugar, milk, potatoes and onions
- Demonetisation to affect growth rate by 0.25-0.5 per cent, but to have long-term benefits
- Efforts to collect taxes on disclosed and undisclosed wealth should not lead to tax harassment
- Farm sector to grow at 4.1 per cent this fiscal, up from 1.2 per cent last year
- Fiscal gains from GST will take time to realise
- Fiscal windfall likely from Pradhan Mantri Garib Kalyan Yojana, low oil price
- GDP growth for next fiscal pegged at 6.75-7.5 per cent
- Growth rate of industrial sector to moderate to 5.2 per cent this fiscal, from 7.4 per cent last fiscal
- Growth this fiscal to be 6.5 per cent
- Growth to return to normal as new currency comes in circulation
- GST, other structural reforms should take the trend growth rate to 8-10 per cent
- Income Tax net could be widened gradually by encompassing all high income earners
- Prescribes cut in individual I-T rates, real estate stamp duties
- Tax administration could be improved to reduce discretion and improve accountability
- Time table for cutting corporate tax should be accelerated
- Universal Basic Income Scheme is an alternative to plethora of state subsidies for poverty alleviation.

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