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Economy Revival

Summary

100%

GDP- 2018

7.327 %

GDP- 2018

7.327 %

Current Account Deficit: Aug - Oct 2018

$19.1 Bn

Current Account Deficit: Aug - Oct 2018

$19.1 Bn

Direct Tax Collection: 2017-18

₹ 10,02,741 Cr

Direct Tax Collection: 2017-18

₹ 10,02,741 Cr

Indirect Tax Collection (till Nov'18)

₹ 15,16,966 Cr

Indirect Tax Collection (till Nov'18)

₹ 15,16,966 Cr

Manufacturing PMI (Nov'18)

54

Manufacturing PMI (Nov'18)

54

Service PMI (Nov'18)

53.7

Service PMI (Nov'18)

53.7

Index of Industrial Production -IIP Growth Data (Oct '18)

132.4

Index of Industrial Production -IIP Growth Data (Oct '18)

132.4

Now India Stands as 6th Largest Economy in the world

India's growth rate in GDP averaged at 7.3% during 2014-18

GDP Growth of 8.2% in Q1 of FY 2018-19

India’s GDP in Current Prices increased by 31% between 2013 & 2017 while the Global GDP increased by 4%

Growth in India’s share in World GDP increased to 3.1% in 2017 from 2.43% in 2013.

India Climbed to the 40th rank World Economic Forum’s Global Competitiveness Index

India's ranking in Ease of doing business reached to 77 in 2018 from 142 in 2014

Public Sector Bankss recapitalized by infusing ₹2,11,000 crore to support credit growth & job creation

Number of registered taxpayers increased over 1.2 Cr post GST from 65 Lakhs before GST.

5-Fold jump in FDI inflows in last 3 years, from $1.3 billion in 2015-16 to $6.2 billion (₹43,400 cr) in 2017-18

6.85 Cr IT Returns filed in 2017-18 from 3.79 Cr in 2013-14

55% growth in Average tax paid by corporates; from 32.38 Lakh in 2014-15 to 49.95 Lakh in 2017-18

Contineous Growth in Direct Tax Collection; 1002741 Cr in 2017-18, 849713 Cr in 2016-17

Amount of GST collected till November, 2018 Rs.15,169,660,000,000

India’s forex reserves booming at 418.94 billion US dollars

FDI jumped from 36.5 billion USD in 2013-14 to 60.08 billion USD in 2016-17

Overall inflation has reduced from 8.48% in April 2014 to 4.58% in April 2018

Food inflation has fallen from 9.19% in April 2014 to 3.07% in April 2018

India’s GDP in Current Prices increased by 31% between 2013 & 2017 while the Global GDP increased by 4%

Small traders and consumers benefitting with end of multiplicity of taxes and fragmented tax regimes. Reduction in cascading effect of taxes. Overall reduction in prices.

Moody's ranked india at 39 spot - upgraded India sovereign credit rating from Baa3 to Baa2 for the first time in 14 years

OpEd

Key Highlights of Union Budget 2019-20
IRC-ADMIN Jul 5 2019 1:42PM

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