FM Arun Jaitley tables Economic Survey 2015-16; FY16 GDP growth seen at 7.6%

NEW DELHI: The Economic Survey for 2015-16 was on Friday tabled in Parliament by Union Finance Minister Arun Jaitley.


The Economic Survey is the Finance Ministry’s view on the annual economic development of the country that gives a broad idea on the macro-economic data, which will impact the budget decisions.

The survey, a flagship annual document of the Ministry of Finance, reviews the developments in the economy over the previous 12 months, which summarises the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.

(With ANI inputs)ANI inputs)

12:20 PM

(Image Courtesy: PIB)


12:19 PM

# Bank appetite for additional bond issue seen limited

# Expect some slippage from fiscal deficit in near term

# Fertiliser subsidy should shift to direct cash transfer

# India’s fiscal space is constrained

# CAD at 1-1.5% expected

# Chances of FY17 growth rising significantly not high

# 7th Pay Commission, OROP to have higher implication on FY17 spending


12:17 PM

# India must plan for major currency readjustment in Asia

# Tax base should widen to over 20% from the current 5.5%

# Higher property tax rates to check realty speculation

# Reasonable taxation needed on farm, realty income

# Need to phase out tax exemptions

# FY17 expected to be challenging on fiscal front

# India needs to focus on supplies for food security

# Current RBI policy rate seems neutral

# FY16 subsidy bill seen below 2% of GDP


12:15 PM

# FY17 GDP growth between 7-7.5%

# FY16 GDP seen at 7.6%

# Low impact of seventh Pay Commission on inflation

# Fiscal deficit seen at 3.9%

# 8% growth possible in couple of years

# Long term growth protential 8-10%

# Global demand to hit growth in near term

# Foreign demand seen weak

# AprJ-an trade gap 106.8 billion

# FY17 expected to be challenging

# India stable amid gloomy globa markets

# FY16 fiscal gap target seems achievvable

# Long run growth potential 8-10%

# Confidence in price stability

# Cad at 1.4% of Apirl – September