Budget 2018, Economic Survey 2017-18 and other Important Facts and Figures in 2018 Current Affairs:
Budget and Economic Survey are crucial documents every aspirant of RBI Grade B, NABARD Grade A and UPSC have to study, a considerable number of questions come from these two documents alone. Most of the questions from these documents are factual in nature and one must remember the maximum facts and data mentioned in these documents to excel in the exams, this document is a sincere attempt to demystify both these documents along with other important factual topics like GDP estimates by various organizations in 2018, Ranking and Index; Important Loan Agreements between India and various organizations in 2018 etc…to help the reader in remembering the facts and data in a smart way.
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BUDGET 2018 – Facts and Figures at a Glance
| Revised Estimates of Budget Expenditure in 2017-18 | Rs 21.57 Lakh Crore |
| Growth in Outward Direct Investment from India | USD 15 Billion per year |
| Total amount to be spent by Ministries for creation of livelihood and infrastructure in rural areas in 2018-19 | Rs 14.34 Lakh Crore |
| Target of Institutional Credit to Agricultural Sector for 2018-19 | Rs 11 Lakh Crore |
| Institutional Credit to Agricultural Sector achieved in 2017-18 | Rs 10 Lakh Crore |
| Budgetary allocation for Infrastructure sector in 2018-19 | Rs 5.97 Lakh Crore |
| Bharatmala Pariyojana approved for completing 35000 Kms in Phase-1 to improve road connectivity in interior, backward areas and border areas of the country | Outlay Rs 5.35 Lakh Crore |
| MUDRA Yojana 2015 statistics as per 2018-19 budget 76% accounts – Women > 50% accounts – SC, ST and OBCs |
Rs 4.6 lakh crore from 10.38 crore loans |
| Target for 2018-19 for lending under MUDRA Yojana | Rs 3 Lakh Crore |
| Under Smart Cities Mission 100 Cities have been selected | Outlay Rs 2.04 Lakh Crore |
| Railway Capital Expenditure for 2018-19 | Rs 1,48,528 Crore |
| Budgetary Expenditure on health, education and social protection in 2018-19 | Rs 1.38 Lakh Crore |
| Revitalizing Infrastructure and Systems in Education by 2022 scheme for research related infrastructure investments in premiere educational institution | Outlay Rs 1 Lakh Crore over next 4 years |
| Dis-investment target for 2018-19 | Rs 80,000 Crore |
| Projected Loans to Self Help Groups by March 2019 | Rs 75,000 Crore |
| Total Loans to Self Help Groups in 2016-17 | Rs 42,500 Crore |
| 187 projects have been sanctioned under Namami Gange Programme | Outlay Rs 16,713 Crore |
| Through Saubagya Scheme 4 crore households have been provided with electricity connection. | Outlay Rs 16,000 Crore |
| Establishment of Funds for Fisheries – Fisheries and Aquaculture Infrastructure Development Fund Animal Husbandry – Animal Husbandry Infrastructure Development Fund |
Total Corpus Rs 10,000 Crore |
| Budgetary allocation for creation and augmentation of telecom infrastructure | Rs 10,000 Crore |
| Allocation of National Social Assistance Programme | Rs 9975 Crore |
| Outlay for Textile Sector | Rs 7148 Crore |
| Total outlay for National Rural Livelihood Mission in 2018-19 | Rs 5750 Crore |
| Budgetary allocation of digital India programme | Rs 3073 Crore |
| 96 deprived irrigation districts taken up under PM Krishi Sichai Yojana – Har Khet Ko Pani | Outlay Rs 2600 Crore |
| Agri – Market Infrastructure Fund for development of infrastructure of 22000 rural Haats and 585 APMCs | Outlay Rs 2,000 Crore |
| Allocation for Ministry of Food Processing Industries in 18-19 | Rs 1400 Crore |
| Bamboo termed as “Green Gold”, restructured bamboo mission announced | Outlay Rs 1290 Crore |
| Allocation for National Health Policy 2017 to build 1.5 Lakh health and wellness centers across the country | 1200 Crore |
| Amount allocated to support nutritional support to TB patients @ Rs 500 per month | Rs 600 Crore |
| “Operation Greens” – to address challenge of price volatility of perishable commodities like Tomatoes, Onion and Potatoes | Outlay Rs 500 Crore |
| Organized cultivation of highly specialized medicinal and aromatic plants by FPOs and VPOs in large clusters of 1000 hectares will be encouraged | Outlay Rs 200 Crore |
| 100% exemption from tax for companies registered as Farmer Producer Companies for a period of five years from 2018-19 with an annual turnover | Rs 100 Crore |
| Investment Limit under Pradhan Mantri Vaya Vandana Yojana enhanced | Rs 15 Lakhs |
| National Health Protection Scheme – AYUSHMAN Bharat to cover approximately 50 crore poor and vulnerable beneficiaries | Rs 5 Lakh per family per year for secondary and tertiary hospitalization |
| Exemption of Interest Income on deposits held with banks and post offices held by Senior Citizens | Up to Rs 50,000 (existing Rs 10,000) |
| Deduction limit for health insurance or medical expenditure for senior citizens | Rs 50,000 |
| Standard deductions enhanced for Salaried Class | Rs 40,000 |
| Payments exceeding what amount in cash by Trusts and Institutions is subject to tax | Rs 10,000 |
| Total employment created by expenditure of ministries for creation of livelihood and infrastructure in rural areas in 18-19 |
321 Crore Person Days. 3.17 Lakh Kms of Rural Roads. 51 Lakh new rural houses. 1.88 Crore toilets. 1.75 crore new household electric connections. |
| Total tax payers at the beginning of the FY 2016-17 | 8.27 Crore |
| Food Grain Production | 275 Million Tonnes |
| Fruits and Vegetables Production | 300 Million Tonnes |
| Revised target for free LPG connections distribution under Ujjwala Scheme | 8 Crore (earlier 5 Crore) |
| Proposal for providing Wifi hotspots in rural connectivity to 5 crore people in rural areas | 5 Lakh Wifi hotspots |
| Development and Upgradation of existing rural Haats into Gramin Agricultural Markets to assist more than 86% of small and marginal farmers | Development of 22000 Haats |
| Ganga Gram Villages on bank of river ganga declared open defecation free | 4465 |
| Total length of track renewal targeted during 2018-19 | 3600 Kms |
| Prime Minister Research Fellow Scheme 2018, Btech Students will be identified each year from premiere institutions and help them to pursue PHDs from IITs with Handsome fellowships | 1000 Btech students |
| Redevelopment of major Railway Stations | 600 |
| Number of APMCs connected to e-NAM market, remaining by what deadline | 470 APMCs remaining by March 2018 |
| Aspirational Districts selected by government of India for converting them into model districts by improving them on various indices | 115 Aspirational Districts selected |
| Archaeological Survey of India will be developing monuments to enhance visitor experience | 100 Adarsh Monuments |
| Total Mega Food Parks in the Country | 42 |
| Number of prominent tourist destinations to be developed into iconic destinations for boosting tourism | 10 destinations |
| Key recommendation of FRBM Act accepted by GOI to bring down GOI debt to GDP ratio to | 40% |
| Reduced Corporate tax rate for companies with an annual turnover of Rs 50 Crore in FY 2015-16 and to companies with an annual turnover up to Rs 250 Crore in 2016-17 | 25% |
| Growth of Direct Taxes in 2017-2018 till January 2018 | 18.7% |
| Growth of Direct Taxes in 2016-2017 | 12.6% |
| Percentage contribution from government of India towards wages of all new employees in EPF for all sectors for next three years | 12% |
| Proposal of Long Term Capital Gains on investments exceeding 1 Lakh | Tax rate @ 10% |
| Social Welfare Surcharge of the aggregate duties of customs on imported goods to provide additional assistance to social welfare schemes of the GOI | 10% |
| Proposal for Amendments to EPFO act to reduce women workforce EPFO contribution for first three years | 8% |
| “Health and Education Cess” on personal income tax, to take care of education and health care needs of people in BPL. Estimated increase in collection of Rs 11,000 Crore | 4% (existing 3%) |
| Fiscal deficit for 2018-19 | 3.3% of GDP |
| Investment Period extended under Pradhan Mantri Vaya Vandana Yojana | March 2020 |
| Special Scheme to supports states in combating air pollution by subsidizing machinery for in-situ management of crop residue | New Delhi Uttar Pradesh Punjab Haryana |
| Facility extended to fisheries and animal husbandry farmers to help them meet their working capital needs | Kisan Credit Card |
| School similar to Navodaya Vidyalayas for imparting better education to tribal children in their own environment by 2022 | Eklavya Model Residential School |
| Proposal to expand the airport capacity handling to 1 billion trips per year under the scheme | NABH Nirman |
| Public Sector Insurance Companies to be merged into a single entity | United India Insurance Co National Insurance Co Oriental Insurance Co |
| Education Cess and Secondary and Higher Education Cess abolished | Import Goods |
| Change of Name of CBEC – Central Board of Excise and Customs | Central Board of Indirect Taxes and Customs |
| Bamboo grown outside forest areas eliminated from definition of | Trees |
| Fund under National Housing Bank funded from priority sector lending shortfall and full serviced bonds authorized by GOI | Affordable Housing Fund |
| Modern train sets with state of art amenities and features to be commissioned in 2018-19 | Integrated Coach Factory, Perambur |
| Indigenous 5G test bed established | IIT Chennai |
Economic Survey 2017-18 Highlights
| Indian Economic Survey is published by | Ministry of Finance |
| Global Economy is expected to accelerate at what rate in 2018 | 3.7% |
| Indian Economy growth forecast by Economic Survey for FY 2019 | 7-7.5% |
| Loans available under Kisan Credit Card for Small and Marginal Farmers at Interest rate subvention of | 2% for a period up to 6 months |
| Agricultural growth rate estimation for 2017-18 | 2.1% |
| What is the averaged Real Agriculture growth since 1960 | 2.8% |
| Averaged retail inflation in 2017-18 | 3.3% |
| Consumer Price Index based headline inflation averaged | 3.3% (lowest in 6 years) |
| Insurance Sector Penetration in India as in 2016 | 3.49% |
| India’s World Trade is projected at what percentage in 2018 | 4% |
| Industrial Growth rate in 2017-18 is estimated at | 4.4% |
| GVA growth rate for agricultural and allied sector for 17-18 | 4.9% |
| GVA growth rate at basic prices in 2017-18 is expected at | 6.1% |
| For every 1 degree rise in temperature | Fall in Income Kharif : 6.2% Rabi : 6.0% |
| Compounded annual growth rate of Indian Logistics Industry | 7.8% |
| Service Sector estimated growth rate in 2017-18 | 8.3% |
| Gross NPA ratio of Scheduled Commercial Banks as in September 2017 | 10.2% |
| Gender Disparity in Agricultural land Holding by Women | 12.8% |
| Rebate of State Levies (ROSL) has increased export of readymade garments (man-made fibers) by | 16% |
| Agriculture contribution to GDP as per ES 2017-18 | 16% |
| Climate Change could reduce average annual agricultural income by | 15% to 18% |
| Climate Change could reduce annual agricultural income in un-irrigated areas by | 20% to 25% |
| Percentage of Agriculture Workers in total workforce by 2050 | 25.7% |
| Ratio of Domestic Savings to GDP in 2016 | 26% |
| Ratio of Gross Fixed Capital Formation to GDP | 26.4% |
| Minimum budgetary allocation set by government of India for women beneficiaries across all schemes and developmental activities | 30% |
| Top 1% firms of India account for what percentage of total exports, which is less compared to many countries | 38% |
| Employment in Agriculture | 49% |
| Percentage of Indian Population to be urbanized by 2050 (as per World Bank) |
50% |
| GST has increased the number of Unique tax payers by what percentage | 50% |
| Percentage of the net sown area under un-irrigated or rain fed | 52% |
| Internal Trade constituted what percentage of the GDP | 60% |
| Sanitation coverage in rural areas has increased from 39% in 2014 to what percentage in 2017 | 76% |
| Percentage of the firms which are purely informal in the country | 87% |
| Balance Sheet Size of the NBFC sector as in September 2017 | 20.7 Lakh Crore |
| Total Interest Rate Subvention approved in 2017-18 | Rs 20,339 Crore |
| Minimum Support Price of Onion till december 2017, export of which was allowed only on letter of credit | USD 850 per MT |
| As per report Financial and Economic Impact of SBM in India it was estimated by the UNICEF that an Open Defecation Free village in rural area saves how much amount per year | Rs 50,000 |
|
Net Cropland Area of India |
179.8 Million Hectares (9.6% of global NCA) |
| Production of Kharif Food Grains (expected) | 134.7 million tonnes |
| Estimated Rice Production as per ES 2017-18 | 110.2 million MT |
| Area sown under rabi crop during 2017-18 | 61.78 million hectares in January 2018 |
| Number of Unique GST registrants as in December 2017 | 9.8 Million |
| Land brought under micro irrigation in 2017-18 (approximately) | 8,40,000 hectares |
| As per ES 2017-18 all India installed capacity of power generation | 3.3 Lakh MW (approx) |
| Employment generation in 2017-18 under MGNREGA act | 4.6 Crore households – 177.8 crore person days as in January 2018 54% – women 22% – SC17% – ST |
| Life expectancy increased by how many years between 1990- 2015 | 10 Years |
| Rank of India in terms of patent filing in the world | 7th largest |
| Indian Tractor Industries have emerged as the largest in the world which account for how much of world’s total tractor production | 1/3rd |
| National Women Farmers’ day | October – 15th |
| As per economic survey which are considered crucial in improving the climate for economic growth | Private Investments and Exports |
| Three Areas of Focus in the medium term, as per economic survey 2017-18 | Employment Education Agriculture |
| Eight Core Infrastructure Supportive Industries which have total weight of 40% in IIP | Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity |
| Digitalization of High Courts in the country | National Judicial Data Grid |
| Increased rural to urban migration by men | Feminization of Agriculture |
| States which constitute 70% of the total Indian exports | Telangana Tamilnadu Karnataka Maharashtra Gujarat |
| Increase in Crop Diversification is observed in | Himachal Pradesh and Jharkhand |
| Country with high FDI in India in 2017-18 | Mauritius |
|
The 4Rs to resolve Twin Balance Sheet Problem |
Recognition Resolution Recapitalization Reform |
| NHB RESIDEX for 50 cities released every quarter launched in 2007 is published by | National Housing Bank |
|
7 sustainable goals focused by VNR report published by India in July 2017 |
1 – No Poverty 2- Zero Hunger 3- Good Health and Well Being 5 – Gender Equality 9 – Industry, Innovation and Infrastructure 14 – Life Below Water 17 – Partnership for the Goals |
|
Small Savings Schemes amalgamated for better control and implementation of the schemes |
Post Office Savings Scheme Social Security Schemes Savings Certificates |
| State with the largest share in exports of goods and services | Maharashtra |
| Chairman of 15th Finance Commission | N K Singh |
| Economic Survey 2017-18 is compiled by | Arvind Subramanian |
|
Color of the Economic Survey |
Pink to lay special emphasis on gender and son meta preference |
Ranking and Index in 2018
| Name of the Report | Publishing Organization | Rank of India | Rank – 01 |
| VERY IMPORTANT RANKING AND INDEX | |||
| Global Phosphorous Pollution Index | Water Resources Research | 2nd | China |
| Global Firepower List 2017 | Global Firepower | 4th / 133 | USA |
| Most Attractive Market for Investments | Pricewaterhouse Coopers (PwC) | 5th | USA |
| Largest Economy in the World | World Economic Outlook IMF |
6th | USA |
|
Commonwealth Innovation Index |
Commonwealth heads of government meeting and World Intellectual Property Rights Organization | 10th / 53 | United Kingdom |
| New Born Mortality Rate | UNICEF | 12th in 52 lower middle income countries | Japan – Safest Country |
| Global Wealthiest City | New World Wealth | Mumbai – 12th | New York |
| Global Manufacturing Index 2018 | World Economic Forum | 30th / 100 | Japan |
|
Global Startup Ecosystem 2017 |
Startup Blink | 37th / 125 Bengaluru, Mumbai and New Delhi featured in the list |
USA |
| Global Democracy Index 2017 | Economic Intelligence Unit | 42nd / 167 | Norway |
| Global Intellectual Property Index 2018 | US Chambers of Commerce | 44th / 50 | USA |
| Inclusive Internet Index 2018 | Economic Intelligence Unit Commissioned by Facebook | 47th / 86 | Sweden |
| MasterCard Women Entrepreneurs Index | MasterCard | 52nd | New Zealand |
|
Inclusive Development Index |
World Economic Forum | 62nd / 74 Developing Countries Category |
Developing Economies Lithuania Developed Economies Norway |
|
Global Multidimensional Poverty Index |
Oxford Poverty and Human Development Initiative | 66th | Andhra Pradesh at 51st Position |
|
Speed test Global Index 2018 |
Ookla |
Fixed Broadband 67th Mobile Internet 109th |
Fixed Broadband Singapore Mobile Internet Norway |
| World Economic Forum Energy Transition Index | World Economic Forum | 78th / 114 | Sweden |
| Global Corruption Perception Index 2017 | Transparency International | 81st / 180 | New Zealand |
| Global Talent Competitiveness Index 2018 | World Economic Forum | 81st / 119 | Switzerland |
| Economic Freedom Index 2018 | Heritage Foundation American based Think Tank |
130th / 180 | Hong Kong |
| World Happiness Report 2018 | UN Sustainable Development Solutions Network | 133rd / 156 | Finland |
| World Press Freedom Index – 2018 | Reporters without Borders | 138th / 180 | Norway |
| Environment Performance Index 2018 | World Economic Forum | 177th / 180 | Switzerland |
OTHER IMPORTANT RANKING AND INDEX |
|||
| India’s Best Gram Panchayat | Government of India | — | Digambarpur Gram Panchayat,WB |
| National Institutional Ranking Framework | HRD Ministry | — | IISc Bangalore Best Overall Institution IIT Madras Best Engineering CollegeIIM Ahmedabad Best Management Institution AIIMS Delhi Best Medical College |
| Healthy States Progressive India Report | NITI Aayig | — | Best Performer Large States Kerala, Tamilnadu, Punjab Best Performer Small States Mizoram |
| Forest and Tree Cover in India | India State of Forest Report 2017 | — | 10th in the world |
| Top Environment Think Tank of India | Think Tank and Civil Societies Program | CSE – Centre for Science and Environment | — |
| Top Ranked Facebook pages of Government Bodies, Ministries and Political Parties in India | Uttar Pradesh CM Yogi Adityanath FB page most popular among CMs of India | PM Narendra Modi is most popular Lok Sabha Memberand Sachin Tendulkar most popular Rajya Sabha Member |
|
| Fastest Growing Nation for Air Passenger Traffic by 2022 | Airports Council International | 2nd (7.5%) |
Vietnam (8.5%) |
| World’s Busiest Airport | Airport Council International | New Delhi 16th |
Hartsfield Jackson Atlanta Airport USA |
| World’s Best Airport | Skytrax, USA | Mumbai – 63rd | Changi Airport, Singapore |
| World’s busiest International Airport | — | — | Dubai International Airport |
| Quality of Living Index | Mercer | Hyderabad, India | Vienna, Austria |
| Most Trusted Brand of India | TRA Brands Trust Report 2018 | — | |
| Fastest Growing IT Services Brand in the World in 2018 | Brand Finance | — | TCS |
| Top 100 Global Technology Leaders | Thomson Reuters Corp | — | Microsoft |
| Most Valuable Company in India in terms of Market Capitalization | BSE Data | — | Tata Consultancy Services |
| Most Valuable BANK in India in terms of Market Capitalization | BSE Data | — | HDFC Bank |
| Most Attractive Employer Brand in India | Ranstad India | — | Microsoft India |
| Most Expensive City in the World | Knight Frank Wealth Report 2018 | Mumbai – 16th | Monaco |
| Worldwide Cost of Living 2018 | Economic Intelligence Unit | Bengaluru – 129 | Singapore City |
|
World’s Greatest Leaders 2018 |
Fortune Magazine | 20th – Indira Jaising 24th – Mukesh Ambani 43rd – Balkrishna Doshi |
Theo Epstein |
| Hurun Global Rich List | Hurun Ltd | 3rd | China (819 Billionaires) |
| Hurun Global Rich List | Hurun Ltd | 19th – Mukesh Ambani | Jeff Bezos |
| Most Vulnerable Country in terms of risk of cyber threats in 2017 | Internet Security Threat Report Symantec |
3rd | USA |
| List of Countries facing Web Borne Threats | Kaspersky Labs | 33rd | — |
| City with best 4G availability | Open Signal | — | Patna |
| Global Largest Auto Market | — | 4th | China |
| ICC – Test Rankings | ICC | Virat Kohli – 2nd | Steve Smith (Australia) |
| FIFA Rankings 2018 | FIFA | — | Germany |
| BWF World Ranking Badminton | BWF | Kidambi Srikanth – 3rd | Viktor Axelsen |
RAILWAYS RRB SYLLABUS PDF – GROUP D
Important Loan Agreements and MoUs
| Signed by | Signed with | Loan Amount | Purpose |
| World Bank | Government of India | USD 48 Million | Community led landscape management in Meghalaya |
| World Bank IBRD |
Government of India | USD 420 Million | Benefit of Small and Marginal Farmers in Marathwada and Vidarbha Dist of Maharashtra |
| World Bank | Paid up capital increased to USD 13 Billion |
IBRD – USD 7.5 Billion IFC – USD 3.5 Billion |
|
| World Bank | Government of India | USD 210 Million | Rural Road connectivity in Madhya Pradesh |
| World Bank | Government of India | USD 120 Million | Uttarakhand Water Supply for Peri- Urban Areas |
| World Bank | Government of India | USD 125 Million | Innovate in India for Inclusiveness Project |
| World Bank | Government of India | USD 125 Million (total 250 Million) | National Biopharma Mission |
| World Bank | Jal Marg Vikas Project | USD 375 Million | enhancing navigation on National Waterway – 1 from Varanasi to Haldia |
| World Bank | Nepal | USD 300 Million | Nepal Earthquake reconstruction |
| International Finance Corporation | PNB Housing Finance Limited | USD 800 Million | Green Affordable Housing in India |
| International Finance Corporation | Mahindra Renewables Pvt Ltd Acme Group Actis LLP |
USD 440 Million | Rewa Solar Park Development |
| Asian Development Bank | Government of India | USD 250 Million | Construction of all-weather roads in WB, MP, Assam, Odisha, Chhattisgarh |
| Asian Development Bank | Government of India | USD 80 Million | Boost employability of youth in Himachal Pradesh |
| Asian Development Bank | Government of India | USD 120 Million | Improve Railway Infrastructure in the Country |
| NABARD | Long term on-lending portfolio | Rs 80,000 Crore | Improve Rural Economy |
| NABARD | Odisha | Rs 372.51 | Irrigation and Rural Bridge Projects |
| AIIB | Government of India | USD 140 Million | Rural Road Connectivity in Madhya Pradesh |
| AIIB | Government of India | India top borrower of AIIB @ USD 1.5 Billion in 2017 | AIIB |
| European Investment Bank | Indian Renewable Energy Development Agency | EURO 150 Million | Second Line of Credit to finance Renewable Energy Projects in India |
| EXIM Bank of India | 15-Nation group in Africa | USD 500 Million | To fund various development projects in Africa |
| State Bank of India | Nepal | Rs 80 Billion | 900 MW Arun III Hydroelectric Project |
| Japan International Cooperation Agency | Government of India | Yen 45 Billion | Bangalore Water Supply and Sewage Project |
| Government of Srilanka | Government of India | USD 45.27 Million | Develop KKS Harbor in Srilanka |
GDP Estimates by Various Organization for 2018-19
| Organization | 2018-19 | 2019-20 |
| International Monetary Fund (World Economic Outlook) |
7.4% | 7.8% |
| World Bank | 7.3% | 7.5% |
| United Nations | 7.2% | 7.4% |
|
Reserve Bank of India |
Real GDP 2017-18 6.6% |
7.4% (Governor Urjit Patel estimated in a recent report) |
| Economic Survey 2017-18 | 6.5% – 6.75% | 7% – 7.5% |
| Asia Development Bank | 7.3% | 7.6% |
| Confederation of Indian Industry | 7.3% – 7.7% | |
| Organization for Economic Cooperation and Development (OECD) | 7.2% | |
| HSBC | 7% | 7.6% |
| DBS Bank | 6.6% | |
| CRISIL | 7.5% | |
| National Council for Applied Economic Research (NCAER), Indian Economy Think Tank | 7.5% | |
| NOMURA | 7.5% | |
| FICCI | 7.4% | |
| Deutsche Bank | 7.5% | |
| IMF World Growth Estimate | 3.6% | 3.9% |
| Morgan Stanley | 7.5% | 7.7% |
