The Economic Survey 2016-17 presented in Parliament on Tuesday projected the economy to grow in the range of 6.75% to 7.25% in the next fiscal year 2017-18 in the post-demonetisation year. Photo: Priyanka Parashar/MintNew Delhi: The Economic Survey 2016-17 presented in Parliament on Tuesday projected the economy to grow in the range of 6.75% to 7.50% in fiscal year 2017-18 post demonetisation. Also read: Economic Survey 2017 identifies apparel, leather sectors to drive jobs growthThe Economic Survey pointed out that demonetisation will have both short-term costs and long-term benefits. The Economic Survey 2016-17 also advocated the concept of Universal Basic Income (UBI) as an alternative to the various social welfare schemes in an effort to reduce poverty. Subramanian, who has prepared the survey, had earlier said that UBI that guarantees a minimum income to every citizen is an “exciting idea” and he will further elaborate his thoughts on the topic in the Economic Survey.

Source: Mint January 31, 2017 07:55 UTC