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Economic Survey 2018, HDFC Q3 Results et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jan 29, 2018 12:29 PM 1 min read
Editorial

Economic Survey 2018 released - increase in tax net and non-farm payroll; Reliance Jio to raise $2.2bn debt (in foreign currency) to finance RCom transaction; HDFC net profit jumps 233% in Q3 to INR56.70 bn; Japan's financial regulator to inspect all cryptocurrency exchanges after Coincheck’s hacking incident; Trump administration consider nationalizing US's 5G network, to reduce dependencies on other countries for network infrastructure.

End of Day Wrap-up (Monday / January 29, 2018) #EconomicSurvey2018 #tax #investment #saving #RBI #Reliance #Jio #RCom #HDFC #Coincheck #Japan #Trump #5G #China #US #Transfin

 

The Economic Survey released today anticipates an acceleration in India's growth to 7-7.5% by 2018-19. This reinstates International Monetary Fund's view that India will regain the title of being the world's fastest growing major economy in the coming fiscal year. The positive outlook is fueled by expectations of recovery after the shocks of GST and demonetization. Another positive comment is the significant increase in number of entities (private and corporate) coming within the tax net - both direct and indirect taxes, courtesy the combined effect of a crackdown by tax authorities as well as roll-out of GST. Non-farm payroll when measured according to tax net (vs. social security as earlier) shows a considerable increase.   

However investment and savings numbers to date look grim, the survey confirms considerable slowdown in agriculture and only a mild recovery in manufacturing. Lack of timely justice has been marked as a key headwind towards ease of doing business.