The Economic Survey 2017-18 has highlighted 10 new facts about the Indian economy: There has been a large increase in registered indirect and direct taxpayers; The formal non-agricultural payroll is much greater than believed; The prosperity of the states is correlated with their international and inter-state trade; India’s firm export structure is substantially more egalitarian than in other large countries; The clothing incentive package boosted exports of ready-made garments; Indian society exhibits strong son “Meta” preference; There is substantial avoidable litigation in the tax arena which government action could reduce; To re-ignite growth, raising investment is more important than raising saving; Own direct tax collections by Indian states and local governments are significantly lower than those of their counterparts in other federal countries; The footprint of climate change is evident and extreme weather adversely impacts agricultural yields.

(Hindustan Times)