The Economic Survey for 2017-18 paints the picture of an economy that gives reason for both optimism and caution. But capitalising on these favourable factors while remaining vigilant to other macroeconomic threats, including a key risk in the form of persistently high oil prices, would require exemplary economic stewardship. Also Read Arvind Subramanian on Economic Survey 2018: the key takeawaysOn the fiscal front, the survey contends that the Centre needs to reappraise its priorities. Devoting an entire chapter to ‘Climate, Climate Change and Agriculture’, the CEA and his team have stressed on the dangers climate change poses to the outlook for farm growth. Citing job creation and education as key priorities, the Survey sets out a plan for rapid economic expansion by recommending that policymakers keep their sights trained on strengthening “the only two truly sustainable engines — private investment and exports.”

Source: The Hindu January 29, 2018 18:33 UTC