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Economic Survey Of India 2015-16 Pdf Highlights

Latest Economic survey of India news 2015-16 .Economic survey is also prepared ahead of the union budget and it has been present by the finance minister and it covers the major points related to the growth and development of the economy.

Economic Survey Of India  2016 Pdf Highlights

Union Budget (29th February 2016), the Finance Minister Arun Jaitley today (26th February 2016) tabled the Economic Survey 2015-2016 in Lok Sabha, which outlines the broad direction of the Budget and the economic performance of the country. It has been revealed that GDP growth rate in India is seen in range of 7 to 7.75 per cent in 2016-17 (it expects Indian economy to grow 7-7.5 percent in the fiscal year to March 2017).Bankers adda The Economic Survey, the basis for Arun Jaitley’s budget for the fiscal year starting April 1, projected India to grow 8 percent in the next couple of years. The survey was prepared by the finance ministry’s chief economic adviser Arvind Subramanian. Following are the highlights of Economic Survey 2015-16.

Imp Points to Remember

  • GDP growth rate for 2015-16 to be in the range of 7% to 7.75 %
  • Fiscal deficit of 3.9 pc achievable
  • Inflation rate pegged at  4.5 to 5 pc
  • Current account deficit seen around 1-1.5% of GDP

Highlights of the survey

  • India haven of stability amidst gloomy global landscape.
  • Crude oil prices to be about USD 35 a barrel next fiscal, as against USD 45 this year.
  • Low inflation takes hold, price stability has increased.
  • Pay Commission implementation not to destabilise prices.
  • Challenging external environment to cast shadow on economic policies.
  • Subsidy bill to be below 2% of GDP next fiscal.
  • Concerned over delay in GST Bill.
  • Balance sheets of corporate, banks remain stressed; need 4Rs: Recognition, Recapitalisation, Resolution and Reform.
  • Suggests revival of domestic demand as foreign capital outflow likely.
  • Sees good performance by industrial, infrastructure, corporate sectors due to recent reform.
  • More investment in health, education; focus on agriculture.
  • Government tax revenues to be higher than budgeted.
  • Exports slowdown to continue; pick up in next fiscal.
  • India should resist protectionist measures in trade.
  • Suggests reform package for fertiliser sector.
  • GDP growth next fiscal to be between 7-7.75%
  • Current account deficit at 1-1.5%, forex reserves at USD 351.5 bn in mid-Feb.
  • PSU banks’ capital need at Rs 1.8 lakh crore by FY19.
  • 3.9% fiscal deficit target achievable this year, coming year to be challenging.
  • Proposes widening of tax net from 5.5% of earning individuals to more than 20%
  • Services sector growth in 2015-16 seen at 9.2%
  • Projects retail inflation at 4.5-5% for 2016-17.
  • Growth this fiscal to be 7.6%, long-term potential at 8-10% if exports grow rapidly.

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2014-2015 Economic Survey Of India Highlights

According to the survey which has been prepared by the finance ministry secretary Arvind subramaniayan the Economy of India is expected to grow by 8%. It is very good news for the economic as the current growth rate is only 5% and the growth in GDP however does not reflect the overall growth in the standard of living but it does related to the growth prospects and better export in India. Government is planning for the several economic aspects but the result for any has not been seen yet. Now after the Economic survey has been tabled the growth of the country for 8% is awaited and it also going to attract more FDI for India which will eventually add to its growth domestic products. According to the economic survey the fiscal growth of 4.1% can be achieved by the country. Here are some of the important news about the Economic survey of India.

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Highlights of Economic survey 2014-2015

  1. It has been presented by the finance ministry and has been prepared by the Arvind subramanan who is the secretary of the finance ministry, government of India. He is also a noted economist in India.
  2. Government will adhere to fiscal deficit target of 4.1 per cent of GDP in 2014/15
  3. Government is planning to ensure expenditure control to reduce fiscal deficit
  4. Economic growth at market prices seen between 8.1 – 8.5 per cent in 2015/16 on basis on new GDP calculation formula.
  5. Now it is possible to see the growth of the GDP in the double digit. But it is still awaited by the people and all.
  6. Current account deficit of the government of India is expected to reach below one percent of the GDP.
  7. Government is planning to curb the inflation but we have seen that there is no any change in the inflator transaction of the country. It is planning to bring down the inflation between 0.5 to 1%. (WPI inflation)
  8. CPI inflation is being targeted to bring down at a rate of 5 to 5.5% annually which is good for the growth f the country. It is yet to be achieved.
  9. India can balance short-term imperative of boosting public investment to revitalize growth with fiscal discipline
  10. Outlook for external financing is correspondingly favorable is being developed by the government.

These are some of the highlights of economic survey that the candidates should read and understand for their upcoming examinations.

Some important points to remember about economic survey 2015.Economic survey is also presented each year by the government of India and it is presented by the finance mister prior to the presentation of the union budget. It contains what growth prospects of the country in terms of GDP and economy. It is basically a research based on the economy of the country and it is prepared any some economist and is presented by the finance mister each year. It tells the current GDP and expected GDP and fiscal deficits, revenue deficits etc and what steps the government wish to take to curb the inflation and to promote the growth in the country. There are questions which are asked in the examination related to the economic survey and this time it will be asked form the economic survey 2015 and candidates should learn the highlighted points here which will help them learn the concepts from here. Here are some of the important concepts and numbers that the candidates should remember as in the examinations figures are asked and you must be aware of the expected figures for the GDP fiscal deficits etc in the coming years.

Economic survey highlights 2016

FISCAL DEFICIT

  • India has decided to meet its medium-term fiscal deficit target of 3 percent of GDP
  • Government is planning to reduce its to fiscal deficit target of 4.1 percent of GDP in 2014/15
  • Government is also planning to curb its expenditure control to reduce fiscal deficit
  • It is also focusing on the Expenditure control and expenditure switching to investment key

GROWTH

  • In the year 2015-16 GDP growth is expected to seen at over 8 percent per annum
  • Double digit economic growth trajectory now a possibility
  • Economic growth at market prices seen between 8.1 – 8.5 percent in 2015-16 on new GDP calculation formula. It is yet to be achieved.
  • Total stalled projects are projected at about 7 percent of GDP, mostly in private sector

Some REFORMS

  • There is scope for big bang reforms now according to the government.
  • According to the survey, India can increase public investments and still hit its borrowing targets

INFLATION

Inflation is the general price rise and it is important to curb it for any economy. It is required by the government of India to curb the inflation if it wants the smooth functioning of the economy and the enhanced foreign investment in the country. It is committed to take the following steps as mentioned in the economic survey to improve the health of inflation in the country and how it can curb that in the coming financial year.

  • According to the government and survey, Inflation shows declining trend in 2014-15
  • Inflation likely to be below central bank target by 0.5 – 1 percentage point for the WPI inflation
  • Lower inflation opens up space for more monetary policy easing
  • Government and central bank need to conclude monetary framework pact to consolidate gains in inflation control
  • Consumer inflation in 2015/16 likely to range between 5-5.5 percent

FISCAL CONSOLIDATION

It is an act on how the government can control the excess expenditure to reduce the gap between te revenue and the expenditure of the movement it is planning to take the following steps to improve the fiscal consolidation in the country.

  • Government remains committed to fiscal consolidation
  • Outlook for external financing is correspondingly favorable according to the government
  • India can balance short-term imperative of boosting public investment to revitalize growth with fiscal discipline

CURRENT ACCOUNT DEFICIT

It also considers the debts that the government has been paying on various loans that it has borrowed from the foreign banks and entities.

  • According to survey, government Estimated CAD at about 1.3 percent of GDP in 2014-15 and less than 1.0 percent of GDP in 2015-16. It is yet to achieve.

SUBSIDIES

  • Government is planning to reduce the subsidies on various items that it is currently paying to reduce the deficit and improve its revenue.

 LIQUIDITY

According to the government and survey, the liquidity conditions in the country are well enough for the country for the coming financial year 2015-16.

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