From the impact of GST rollout and extreme weather to lower tax collections by states and Indians' yearning for a male child, chief economic adviser Arvind Subramanian has identified ten new facts for the economy in the 2017-18 Economic Survey. ET takes a look at the new findings:50% rise in unique indirect taxpayers post GST, 1.8 million more individual income-tax fi lers since November'16Over 30% workforce when formality is defined in terms of social security, over 50% based on GST netStates that export more globally & trade more with other states, tend to be richerTop 1% firms account for 38% exports in India compared with 72%, 68%, 67% and 55% of exports in Brazil, Germany, Mexico, and the USRelief from embedded state taxes in 2016 buoyed readymade garments' exports by 16%Parents keep having children till they get the desired number of sons. Sex ratio skews in favour of males if it is the last child but in favour of females if it is not the lastOnly 0.2% of cases accounted for 56% of the value at stake while 66% of pending cases (each less than Rs 10 lakh) account for only 1.8% of the value at stakeGrowth slowdowns are preceded by investment slowdowns but not necessarily by savings slowdownsImpact of extreme temperature increases and rainfall deficiencies is twice as large in unirrigated areas than irrigated onesThis share is low relative to the direct taxation powers they actually have

Source: Economic Times January 29, 2018 19:30 UTC